HI HB2526

Creates a one-time nonrefundable income tax credit equal to 50% of costs for retrofitting residential structures with wind-resistant windows, doors, and roofing certified to withstand 200+ mph winds, or for building hurricane shelters meeting FEMA standards.

Reduces the general excise tax rate by half on sales of newly constructed concrete residential housing projects certified as hurricane-resistant with components rated for 200+ mph sustained winds.

For high-rise condominiums, the reduced GET rate applies only to the incremental cost of hurricane-resistant windows, doors, roofing, and structural components exceeding standard building code requirements.

Applies to taxable years beginning after December 31, 2026, and sunsets on December 31, 2030.

Responds to climate change predictions that Category 5 hurricanes with 200 mph winds could occur annually by 2080, while Hawaii's approximately 200,000 wooden stand-alone houses and limited refuge shelters leave residents vulnerable.