HI HB382

Requires board members of condominium associations to disclose substantial financial interests in third-party providers prior to taking any action directly affecting both the association and that provider.

Defines "financial interest" to include ownership interests in businesses, creditor interests in insolvent businesses, employment or prospective employment, ownership of real or personal property, loans or debtor interests, and directorships or officerships in businesses.

Prohibits board members from soliciting, accepting, or receiving gifts in any form from third-party providers when the gift could reasonably be inferred to influence their duties or reward their actions.

Expands the investigative and enforcement powers of the Hawaii Real Estate Commission to enforce the new disclosure and gift prohibition requirements through cease-and-desist orders and injunctions.

Establishes penalties for violations including misdemeanor charges with fines up to $10,000 and imprisonment up to one year, plus civil penalties up to $10,000 per violation.