HI HR82

Requests the Hawaii Housing Finance and Development Corporation (HHFDC) Chairperson to establish a task force to study the feasibility of an equity conversion mortgage program for elderly kupuna homeowners.

Task force is directed to examine the proposed Kupuna Home Equity Conversion Mortgage Program from House Bill 1306 and research eligibility requirements, consumer protections, housing transition processes, and cost limits.

Task force composition includes the HHFDC Board Chairperson (chair), Director of Commerce and Consumer Affairs, Director of Human Services, and Executive Director of Hawaii Public Housing Authority, with authority to invite additional members with relevant expertise.

Task force must submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2026 Regular Session convenes.

Addresses kupuna living on fixed incomes who face medical bills and home ownership costs by exploring how equity conversion mortgages could allow seniors to access home equity without selling or taking traditional loans.