HI HB1009

Establishes a permanent Dwelling Unit Revolving Fund Equity Program allowing the Hawaii Housing Finance and Development Corporation to purchase equity in for-sale housing development projects, reducing the purchase price for eligible buyers

Requires eligible buyers to be Hawaii residents who do not own a majority interest in any residential real property, with potential additional qualifications including working in professions facing labor shortages and limiting gift funds to 35% of the unit purchase price

Mandates that buyers who sell their unit within 30 years must repay the corporation's equity plus its share of any property appreciation; repayment is also triggered by refinancing, transferring title, non-owner occupancy, or renting

Expands permitted uses of the Dwelling Unit Revolving Fund to include purchasing equity in for-sale housing projects and providing interim primary or secondary financing

Repeals the temporary pilot program established under Act 92 (2023) and replaces it with this permanent statutory framework, effective July 1, 3000