HI SB2699

Redefines "low-income" housing as household income no greater than 80% of Honolulu area median income and "moderate-income" as no greater than 120% of area median income for Hawaii Community Development Authority projects.

Requires the authority's affordable housing rules to be at least as strict and restrictive as the City and County of Honolulu's affordable housing requirements, including restrictions on title transfers, sales of units, and buyback provisions.

Allows developers to satisfy affordable housing requirements through construction of reserved housing on land outside the authority's jurisdiction on the same island, with priority given to locations within the development district, surrounding areas, central urban core, and then outlying areas.

Prohibits cash payments in lieu of providing reserved housing except for fractional units resulting from percentage calculations.

Takes effect July 1, 2050.