HI HB2616

Establishes the Banyan Drive-Makaokū community development district on the Waiakea peninsula near Hilo, Hawaii, including Coconut Island (Moku Ola), to address blight and revitalize the culturally and historically significant area.

Creates the Banyan Drive-Makaokū redevelopment agency under the Hawaii Community Development Authority, with a chairperson appointed by the authority to implement district operations.

Establishes a dedicated special fund in the state treasury to receive revenues, grants, donations, and legislative appropriations for district administration, improvement, and maintenance.

Requires development to promote cultural activities, preserve Hawaiian archaeological and historic sites, consider climate change impacts, and coordinate with existing state and county policies.

Authorizes the authority to secure federal financial assistance, issue bonds, establish service fees, and conduct planning and infrastructure activities both within and outside the district.