HI SR84

Requests the Federal Housing Administration (FHA) to amend regulations reducing barriers to condominium project approvals to increase mortgage financing availability for first-time homebuyers in Hawaii.

Notes that Hawaii has high real estate costs with January 2018 median prices of $772,000 for single-family homes and $430,000 for condominiums on Oahu.

Identifies that FHA approval of condominium projects is significantly more complicated than approval for conventional and Veterans Benefits Administration financing, preventing many Hawaii first-time homebuyers from accessing FHA-backed mortgages.

Directs transmission of certified copies to the Assistant Secretary for Housing - Federal Housing Commissioner, members of Hawaii's congressional delegation, and the Governor of Hawaii.