H.B. 565 Summary

• Requires sellers to provide a "vulnerable coastal property statement" for residential properties within sea level rise exposure areas as designated by the Hawaii climate change mitigation and adaptation commission

• Vulnerable coastal property statement must be signed by seller within six months before or ten calendar days after buyer's acceptance of purchase contract and delivered to buyer within ten calendar days of contract acceptance

• Buyer must acknowledge receipt and review of the statement with notarized signature on the purchase contract or separate document

• Statement must include four required disclosures addressing coastal erosion and sea level rise risks, availability of hazard maps, shoreline setback determination, and impacts to public beach access rights

• Amends existing real property disclosure requirements to add sea level rise exposure areas to the list of designated hazard areas sellers must disclose, effective July 1, 2050