HI HB490

Requires the Insurance Commissioner to study the feasibility of mutual insurance models for condominium associations to obtain required property insurance under Hawaii law

Study must include examination of Hawaii condominium associations joining mutual insurance companies located in other U.S. states

Addresses insurance affordability crisis where some condominium owners have experienced rate increases exceeding 1,300% in a single year

Commissioner must submit findings, recommendations, and any proposed legislation to the legislature no later than 20 days before the 2026 regular session

Effective date of July 1, 3000 (placeholder date indicating bill requires further amendment)