HI SB40

Amends Section 201H-38, Hawaii Revised Statutes, to modify requirements for housing projects exempt from zoning and construction standards.

Replaces references to "legislative body" with "county" throughout the provision regarding project approval procedures.

Adds new requirement that for-sale housing projects must perpetually restrict units to "qualified residents" as defined in Section 201H-32 who are owner-occupants and own no other real property.

Removes income restrictions for qualifying for-sale housing projects while maintaining the requirement that buyers be first-time homebuyers with no other property ownership.

Takes effect May 6, 2137.