HI HB865

Authorizes the Hawaii Housing Finance and Development Corporation (HHFDC) to establish a community land trust to sell homes to low- and moderate-income homebuyers.

Community land trust may hold title to land and lease it to qualifying households through long-term ground leases (up to 99 years) designed to preserve permanent affordability.

Trust retains first option to purchase any structural improvements on leased land at a formula-based price to ensure homes remain affordable for low- and moderate-income households.

Requires the community land trust to be member-based with a board of directors composed of equal numbers of lessees, non-lessee corporate members, and other designated persons, with a majority elected by corporate membership.

Trust may acquire property, buy and sell homes, adopt bylaws, and receive funding from donations, membership fees, state, county, or federal sources.