HI HB2203

Only current residents of Hawaii or former residents of Hawaii may obtain ownership interest in residential property in Hawaii.

Real estate brokers and salespersons licensed under Hawaii Revised Statutes chapter 467 must disclose this prohibition to any individual who is not a current or former resident attempting to purchase residential real estate.

Exemptions apply to property acquired through wills, devises, descent, or by operation of law, and to ownership interests that existed before the Act's effective date.

"Current resident" means an individual currently domiciled in Hawaii; "former resident" means an individual born, previously domiciled, registered to vote, or lived in Hawaii but currently domiciled outside Hawaii.

The moratorium automatically repeals on the last date of the Governor's final affordable housing proclamation, with the Governor required to notify the Chief Justice, Legislature, and Revisor of Statutes at least 20 days before expiration if no further proclamation will be issued.