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HI HB2625
Bill
Status
Introduced
1/28/2026
Primary Sponsor
Ikaika Hussey
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AI Summary
- Establishes the Vacant and Blighted Residential Property Redevelopment Program within the Hawaii Housing Finance and Development Corporation (HHFDC) to identify, acquire, and redevelop vacant and blighted residential properties into affordable rental housing
- Defines "vacant residential property" as unoccupied for 12+ months with visible signs of abandonment, and "blighted property" as structures unfit for habitation, condemned, or requiring rehabilitation costs exceeding 50% of pre-damage value
- Requires 80% of units in redeveloped projects to be rented to households at or below 100% area median income, with 25% of those reserved for households at or below 80% AMI, for a minimum of 30 years
- Provides development incentives including relaxed zoning standards (60-foot max height, 4.0 floor area ratio, no parking requirements), exemptions from impact fees and permit fees, and 15-year real property tax exemption for units serving households at 80% AMI or below
- Appropriates $25,000,000 into a new revolving fund for property acquisition and redevelopment plus $750,000 for administrative expenses for fiscal year 2026-2027, effective July 1, 2026
Legislative Description
Relating To Housing.
Appropriations ($)
Last Action
The committee(s) on HSG recommend(s) that the measure be deferred.
2/6/2026
Committee Referrals
Housing2/2/2026
Full Bill Text
No bill text available