HI SB580

Allows the Hawaii Housing Finance and Development Corporation to negotiate leases for multi-family residential, commercial, and mixed-use projects on public lands for terms up to 99 years, exceeding the previous 65-year limit.

Initial lease terms and any extensions combined cannot exceed 99 years total for residential, commercial, or mixed-use properties on state lands.

Upon lease expiration, the property may be offered at public auction, with the previous leaseholder given a right of first refusal if they match the highest bid offered.

Addresses Hawaii's affordable housing shortage by enabling longer-term leases to encourage developers to initiate housing and mixed-use development projects that provide affordable housing and economic benefits.