Bill > HB252

This bill requires managing agents for residential condominium properties over seventy-five feet tall to have commercial property management experience, addressing a perceived gap in current regulations. The legislation stems from findings that volunteer condominium association board members may be vulnerable to incompetent or inexperienced property management, potentially exposing them to financial risks. Specifically, the bill amends existing law to add a new requirement that managing agents for high-rise residential properties must demonstrate commercial property management experience, in addition to current requirements such as being a licensed real estate broker, maintaining a fidelity bond, and registering with the appropriate commission. The bill aims to protect condominium owners by ensuring that managing agents for taller residential buildings have professional-level expertise in property management, beyond the current minimal licensing standards. The new requirement is intended to reduce the risk of fraud, misrepresentation, and financial losses for condominium associations, particularly those in buildings that are more complex to manage due to their height and potential structural complexity. The bill is set to take effect on July 1, 3000, which appears to be a placeholder date typical in draft legislation.

Business and Industry, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=252&year=2026