HI SB1145

Requires preliminary plans and specifications for Hawaii Housing Finance and Development Corporation housing projects to include a restrictive covenant ensuring units designated as affordable housing remain affordable in perpetuity.

Adds a new requirement that housing developments cannot be located within a special flood hazard area as identified on current Federal Emergency Management Agency flood insurance rate maps.

Adds definition of "affordable housing" referencing section 201H-57 and clarifies definition of "government assistance program" in the housing exemption statute.

Updates section 201H-41 to require private developers' housing projects to satisfy the new affordable housing perpetuity requirement and flood hazard area restrictions.

Effective date: July 1, 2050.