HI HB996

Allows the Board of Land and Natural Resources to renegotiate extensions to existing disaster relief leases when less than five years remain on the lease term.

Extension renegotiations require the board to find that it is in the public interest and the lessee must make substantial improvements (renovation, rehabilitation, reconstruction, or construction costing at least 50% of the property's market value).

Clarifies that lessees may sublet part of leasehold premises without board approval, while subleasing the entire premises requires prior board approval.

Amends Hawaii Revised Statutes § 171-87 regarding disposition of public land to natural disaster victims by lease, with rental waived for the first two years.

Takes effect upon approval.