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HI SB3281
Bill
Status
1/26/2022
Primary Sponsor
Sharon Moriwaki
Click for details
AI Summary
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Increases the minimum percentage of residential condominium units that must be offered to prospective owner-occupants during the initial 30-day sales period from 50% to 90%
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Applies the 90% requirement across three Hawaii Revised Statutes sections: Section 514B-95.5 (announcement/advertisement), Section 514B-96 (developer designation), and Section 514B-98 (sale restrictions)
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Requires units offered to owner-occupants to constitute a proportionate representation of all residential units regarding square footage, bedrooms, bathrooms, floor level, and lanai availability
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Maintains existing exception for condominium conversions of existing structures, which must first be offered to current occupants who submit an owner-occupant affidavit and earnest money deposit
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Takes effect upon approval
Legislative Description
Relating To Condominiums.
Sale
Last Action
The committee on CPN deferred the measure.
2/23/2022