HI HB1258

Establishes the Banyan Drive community development district under the Hawaii Community Development Authority jurisdiction, encompassing approximately 85 percent of east Hawaii's overnight visitor accommodations on state-owned land.

Creates a five-member Banyan Drive advisory committee consisting of the Hawaii county planning director, two members appointed by the governor from legislative lists, and two members appointed by the governor, with voting authority on district-specific issues.

Defines district boundaries from the shoreline at Lihiwai Street and Mamalahoa Highway to Kalanianaole Avenue, Kumai Street, and Ocean View Drive, designed to allow compatible coexistence of hotel, resort, commercial, residential, and public uses.

Establishes the Banyan Drive community development revolving fund to receive all revenues and legislative appropriations for the district, with interest credited to the fund and moneys used solely for district purposes.

Transfers fifteen leases in the Banyan Drive resort area (covering three resort hotels, three condominium facilities, one golf course, and one restaurant) from the Department of Land and Natural Resources to the Hawaii Community Development Authority effective July 1, 2011.