HI HB272

Amends the definition of "residential unit" in Hawaii Revised Statutes Section 514B-95 to exclude any unit in a project where time share use is permitted under Section 514E-6.

Increases the minimum percentage of residential units that must be designated and offered for sale to prospective owner-occupants from 50 percent to 90 percent during the thirty-day period following initial sale of a condominium project.

Updates publication requirements in Section 514B-95.5 to require announcements or advertisements to specify that at least 90 percent (formerly 50 percent) of units being marketed will be offered only to prospective owner-occupants during the initial thirty-day sales period.

Maintains existing protections for current occupants in converted buildings, requiring each unit be first offered to individuals occupying the unit prior to conversion who submit an owner-occupant affidavit and earnest money deposit.

Takes effect July 1, 2050.