HI SB1258

Requires real estate appraisers acting as arbitrators to record all arbitration awards, records of awards, and any supplementary, dissenting, or explanatory opinions with the bureau of conveyances within 90 days of determination and notification to parties.

Addresses lack of transparency in implementing Act 227 (Hawaii 2011), which requires appraisers to report the basis for awards and certify compliance with Uniform Standards of Professional Appraisal Practice.

Aims to increase public access to industrial and commercial leasehold valuation data that is currently withheld through confidentiality clauses in arbitration agreements.

Seeks to improve market efficiency by making leasehold rent and valuation information publicly available through the bureau of conveyances, similar to recorded sales transaction data.

Effective January 1, 2112.