HI SB2442

Establishes a new nonjudicial power of sale foreclosure process in Chapter 667 for condominium and planned community associations to collect unpaid common expense assessments without court intervention.

Requires associations to provide notice of default after 60 days of nonpayment, followed by a notice of intention to foreclose giving owners 35 days to cure the default or enter a payment plan requiring 10% down plus monthly payments of current assessments plus 10% of arrears.

Mandates public sale of units at state facilities with at least 21 days' notice published in newspapers, mailed to owner and creditors, and posted on the property; sales proceed to costs, association fees, association claim, then junior lienholders and remaining owner balance.

Limits liability of foreclosure purchasers for pre-acquisition unpaid common expenses to regular periodic assessments capped at a specified dollar amount, excluding late charges, fines, penalties, and attorney's fees.

Clarifies that association liens have priority over all liens except government tax liens and mortgages recorded before the association lien notice, and authorizes associations to maintain money judgments without waiving lien rights.