HI HB1341

Creates a nonrefundable tax credit for insurers providing full property coverage (100% of insurable value) to Hawaii condominium owners and associations, covering windstorm, hurricane, hail, flood, fire, and localized perils

Tax credit equals 20% of the insurance premium tax for qualifying policies, with an additional 10% (totaling 30%) for insurers incorporated in Hawaii

Caps the aggregate annual tax credits at $5,000,000 across all insurers

Limits the tax credit to one claim per structure per taxable year, regardless of the number of policies written on that structure

Applies to taxable years beginning after December 31, 2025