SB 1126 Summary

• Requires all sales or transfers of vulnerable coastal property to include a sea level rise hazard exposure statement executed by the purchaser or transferee, effective November 1, 2019.

• The exposure statement must include acknowledgment of seven specific items: risk of property loss from shoreline retreat, existence of hazard maps, shoreline certification processes, difficulties obtaining permits for shoreline protection, beaches as public trust resources, public right of access to shorelines, and department authority to remove encroaching vegetation.

• Mandates that all vulnerable coastal property statements be notarized and recorded in the bureau of conveyances.

• Amends Section 508D-15 to require sellers to disclose if residential real property lies within a sea level rise exposure area as officially designated by the Hawaii climate change mitigation and adaptation commission.

• Defines "vulnerable coastal property" as real property within the sea level rise exposure area as officially designated by the Hawaii climate change mitigation and adaptation commission; takes effect December 31, 2050.