Bill > HB849

This bill proposes several changes to Hawaii's condominium laws to increase transparency and unit owner participation in financial decisions. First, the bill requires that before a condominium association can borrow money, the specific terms of the loan must be sent to all unit owners, and a majority of unit owners must vote or provide written consent to approve the borrowing. Second, the bill mandates that any maintenance fee increases must be approved by a majority vote or written consent of unit owners before taking effect, ensuring that owners have a say in cost changes. Third, the bill introduces a new requirement for a forensic audit of the association's financial records, which must be conducted at least once every three years, with the first audit to be completed by June 30, 2026. The forensic audit results must be made available to all unit owners within 30 days of completion. These provisions aim to provide greater financial oversight, accountability, and unit owner involvement in condominium association management, giving owners more control and insight into the financial operations of their shared property.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=849&year=2026