Bill > HB525

This bill modifies Hawaii's Rent-to-Own Program by expanding the types of dwelling units eligible for the program and extending the fixed sales price period. Specifically, the bill clarifies that eligible units must be either fee simple properties (full ownership) or leasehold properties on state or county land with a lease term of at least 99 years. The bill changes the period during which the sales price remains fixed from five years to ten years, giving participants a longer timeframe to decide whether to purchase the unit. Under this program, a portion of the participant's rent is credited toward the potential purchase of the unit. If the participant does not choose to purchase the unit within the ten-year period, they must vacate the unit, and it will be made available to another potential buyer or renter. The bill is set to take effect on July 1, 3000, which appears to be a placeholder date typically used in legislative drafting to indicate a future implementation date.

Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=525&year=2026