HI HB1026

Amends Hawaii Revised Statutes § 171-6 to expand the Board of Land and Natural Resources' authority to approve rental reductions or waivers for public land leases requiring substantial demolition or infrastructure costs.

Allows rental reductions or waivers up to 20 years for resort, commercial, industrial, other business, or residential leases when the lessee must demolish existing improvements or provide basic infrastructure (drainage, sewer, water, electricity, and utilities).

Limits the rental reduction or waiver amount to not exceed the lessee's total expenditures for demolition or infrastructure provision.

Takes effect July 1, 2019, and expires June 30, 2024, after which the statute reverts to its prior form unless reenacted.

Addresses situations where expired leases from the 1940s left aged improvements (such as hotels) requiring costly demolition ($8-10 million) or where unimproved lands need substantial infrastructure investment before development can occur.