HI HB276

Homeowners who subdivide their property into a two-unit condominium are currently classified as developers, requiring annual reports and $50 fees until all units are sold

Exempts homeowner-developers from annual reporting requirements if the project has no more than two units, the developer has resided in one unit as their principal residence for at least 10 years, and the other unit's initial sale is complete

Amends Hawaii Revised Statutes Section 514B-58 to add this new exemption category alongside the existing exemption for developers who have sold all units

Requires developers to resume filing annual reports if conditions change (e.g., they no longer use the unit as principal residence)

Effective date set for July 1, 3000 (placeholder date indicating further legislative action needed)