HI SB826

Requires annual condominium association meetings be held at a location on the island that is convenient and readily accessible to unit owners.

Allows adjournment of initial annual meeting with up to two reconvened meetings within 90 days if quorum is not met, with the third meeting having a reduced quorum requirement of one-half the bylaws requirement.

Limits business at meetings with reduced quorum to adoption of tax resolutions and election of board members to fill expiring or expired positions.

Grants condominium association boards authority to terminate managing agent contracts, subject to unit owner override by majority vote at association meetings (with exceptions for commercial and hotel/resort units).

Requires associations with 100 or more units to prepare budgets and accounting on an accrual basis in accordance with generally accepted accounting principles, and mandates standardized forms for unit owner record requests and association responses.