HI HB2554

Requires each county to authorize construction of specified new housing units annually from fiscal year 2019-2020 through fiscal year 2029-2030: Honolulu (2,588 units), Hawaii County (1,961 units), Maui County (1,395 units), and Kauai County (529 units).

Reduces a county's transient accommodations tax revenue allocation by 1 percent for each fiscal year the county fails to authorize the required number of new housing units, beginning the following fiscal year.

Allows counties to recoup revenue reductions at a rate of 1 percent per year if the county meets or exceeds the required housing unit authorizations in subsequent years.

Addresses Hawaii's projected housing shortage of 64,693 units statewide from 2015-2025 by requiring counties to proactively authorize housing production rather than reactively approve individual projects.

Effective date: January 1, 2050.