HI HB252

Requires managing agents for residential condominium properties exceeding 75 feet in height to have commercial property management experience.

Amends section 514B-132 of Hawaii Revised Statutes to add commercial property management experience as a new requirement for managing agents in high-rise residential condominiums.

Maintains existing requirements for managing agents including real estate broker licensing, registration with the commission, fidelity bond coverage ($500 per unit, minimum $20,000, maximum $500,000), and reporting obligations.

Addresses legislative finding that volunteer condominium board members lack comparable expertise to commercial property management professionals and need enhanced protections against incompetence and fraud.

Takes effect July 1, 3000.