HB 2118 Summary

• Amends Hawaii Revised Statutes Section 514B-105(e) to modify condominium board borrowing authority for health and safety improvements.

• Exempts condominium boards from obtaining unit owner consent when borrowing for government-mandated equipment or improvements to common elements for health and safety purposes, provided at least 20 percent of unit owners reside outside the United States.

• Maintains existing requirements that written notice of borrowing purpose and use be sent to all unit owners and those representing 50 percent of common interest vote in all other circumstances.

• Takes effect July 1, 2035.