HI HB490

Requires the insurance commissioner to study the feasibility of mutual insurance models for condominium associations in Hawaii to obtain property insurance required under Hawaii Revised Statutes section 514B-143.

Study shall include examining whether condominium associations can join mutual insurance companies located in other states.

Insurance commissioner must submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days before the 2026 regular legislative session.

Addresses Hawaii condominium owners' challenges with insurance coverage, including rate increases exceeding 1,300 percent in single years, by exploring alternative insurance solutions.