Bill > SB469

This bill addresses Hawaii's housing challenges by establishing a new Homeless Services Special Fund and modifying the state's conveyance tax (property sales tax) structure to generate revenue for affordable housing and homeless services. The bill increases conveyance tax rates for properties valued over $600,000, with significantly higher rates for properties valued at $10 million or more, and creates a separate tax rate schedule for multifamily residential properties. The bill also establishes new tax exemptions for properties conveyed to organizations with affordability requirements, certain nonprofit organizations, and owner-occupants or renter-occupants. The collected conveyance taxes will be allocated across several funds, including the Land Conservation Fund, Rental Housing Revolving Fund, Affordable Homeownership Revolving Fund, Homeless Services Special Fund, and Dwelling Unit Revolving Fund. Counties will be allowed to apply for matching funds from the Affordable Homeownership Revolving Fund, provided they have a comprehensive affordable housing plan that includes identifying available lands, infrastructure needs, and ensuring perpetual affordability of housing projects. The legislation aims to address Hawaii's high housing costs, homelessness crisis, and the need for sustainable funding for affordable housing and homeless services, with a particular focus on properties owned by out-of-state investors.

Health and Social Services

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=469&year=2026