HI HB1732

Establishes the "Kamaaina Homes Program" within the Hawaii Housing Finance and Development Corporation to provide counties with funding to purchase voluntary deed restrictions on properties from eligible homebuyers, creating dedicated workforce housing for local residents.

Counties can receive annual allocations up to $20 million total from the dwelling unit revolving fund, with a required county match of at least $1 for every $3 of state funds, and contributions to homebuyers capped at 8% of property appraised value.

Deed restrictions run with the land in perpetuity and require properties to be occupied by at least one person who works 30+ hours per week at a qualified Hawaii business, is retired/disabled after previously meeting work requirements, or is a relative of such a person.

Program prioritizes workers in labor shortage professions including government workers, healthcare workers, educators, law enforcement officers, correctional facility staff, and agricultural field workers.

Properties with deed restrictions are exempt from environmental impact statement requirements, conveyance taxes, and public procurement code requirements, and counties may bring civil actions or claim 50% of appreciated property value against non-compliant homeowners.