HI HB475

Requires all association managers for homeowners' associations, planned community associations, cooperative housing corporations, and condominium unit owners' associations to obtain a license beginning July 1, 2027

Establishes an Association Manager Licensing Board within the Department of Commerce and Consumer Affairs to set licensure requirements, grant or deny licenses, adopt rules, and take disciplinary action

Exempts employees or contractors who work under the supervision of a licensed association manager from the licensing requirement

Creates an association managers recovery fund to compensate individuals injured by violations committed by licensed association managers, with damages capped at an unspecified amount per claim

Addresses concerns that approximately 360,000 Hawaii residents (one in four) live in common interest ownership communities managed by volunteer boards with limited expertise in financing, property management, or engineering