HI HB1267

Requires the Hawaii Housing Finance and Development Corporation (HHFDC) to initiate a rent-controlled housing pilot project to encourage affordable rental housing construction and evaluate rent control impacts on Hawaii's housing market.

Mandates each county establish rent control ordinances by 2018 limiting rents to no more than 30 percent of area median income for pilot project housing and pre-1990 constructed housing in five designated representative districts (two in Honolulu, one each in Maui, Kauai, and Hawaii counties).

Restricts annual rent increases to no more than a specified percentage of median market rate rent increase at intervals during tenant occupancy.

Establishes a five-member rent control board to review disputes regarding rent control applicability, authorized rent amounts, and relocation assistance for displaced tenants.

Appropriates unspecified funds for fiscal years 2017-2018 and 2018-2019 to administer the pilot project, which terminates December 31, 2023, with final reporting required before the 2024 legislative session.