HI HB525

Expands the Hawaii Housing Finance and Development Corporation's rent-to-own program to include both fee simple properties and leasehold properties on state or county land with initial lease terms of at least 99 years

Extends the fixed sales price period from 5 years to 10 years, giving program participants twice as long to purchase their rental unit at the originally established price

Requires participants who do not purchase within the 10-year period to forfeit their right to continue living in the unit, which then becomes available to other buyers or renters

Effective date set for July 1, 3000 (placeholder date indicating legislative intent to negotiate actual implementation timing)