Bill > SB80

This bill establishes a new Dwelling Unit Revolving Fund Equity Program administered by the Hawaii Housing Finance and Development Corporation (HHFDC) to help address housing affordability. The program allows the HHFDC to purchase equity in for-sale housing development projects, effectively reducing the purchase price for eligible buyers. Eligible buyers must be Hawaii residents who do not own other real property, receive no gift funds, and work in professions facing shortages such as healthcare, education, law enforcement, or agricultural fields. The program requires that if a buyer sells their unit within thirty years, they must repay the HHFDC's equity and share of appreciated unit value. The bill also amends existing law to clarify that the Dwelling Unit Revolving Fund can be used for purchasing equity and providing interim financing. Additionally, the bill repeals the previous five-year pilot program for this type of housing assistance, replacing it with this more permanent equity program. The HHFDC is authorized to establish criteria for prioritizing eligible buyers and will prioritize government housing projects, with the goal of making homeownership more accessible to essential workers facing financial challenges in Hawaii's competitive real estate market.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=80&year=2026