HB 47 Summary

• Exempts homeowner-developers from annual developer reporting requirements under Hawaii Revised Statutes chapter 514B if their development consists of not more than two units.

• Applies exemption only when the developer resides in one unit as their principal place of residence and the initial sale of the other unit has been completed.

• Relieves qualifying homeowner-developers from paying the annual $50 filing fee previously required until all units were sold.

• Effective date is January 1, 2050.