HI HB272

Excludes units in time share projects from condominium owner-occupant purchase requirements by adding time share units to the definition of "residential unit" exclusions under section 514B-95.

Increases the minimum percentage of residential units that must be offered to owner-occupants during the 30-day initial sales period from 50% to 90% in sections 514B-95.5, 514B-96, and 514B-98.

Requires that designated owner-occupant units constitute a proportionate representation of all residential units by square footage, number of bedrooms and bathrooms, floor level, and lanai availability.

Applies new owner-occupant sale requirements to condominium conversions of existing structures, with first right of purchase offered to current occupants who submit an affidavit and earnest money deposit.

Effective date: July 1, 2050.