Bill > HB591

This bill requires managing agents for residential condominium properties over seventy-five feet in height to have commercial property management experience, addressing concerns about the competence and expertise of managing agents for high-rise residential properties. Currently, managing agents are only required to be licensed real estate brokers, which the legislature believes may not provide sufficient protection for association of apartment owners (AOAO) board members and unit owners from potential fraud, misrepresentation, or negligence. 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 existing requirements such as being a licensed real estate broker, maintaining a fidelity bond, registering with the commission, and reporting changes to their registration. The goal is to ensure that managing agents for taller residential buildings have the necessary professional expertise to effectively manage complex property maintenance, repairs, and financial responsibilities. The new requirement will take effect immediately upon the bill's approval, potentially raising the standard of property management for high-rise residential condominiums.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=591&year=2026