Bill > HCR79

This concurrent resolution requests the Insurance Commissioner to conduct a statewide study on title insurance, focusing on its potential impacts on home ownership affordability. The resolution acknowledges that title insurance is a risk management tool protecting property buyers from unknown claims that might affect property value or ownership rights, but recognizes that the upfront costs can create significant financial barriers for prospective homeowners. Specifically, the Insurance Commissioner is asked to examine the potential effects of reforming or eliminating title insurance requirements statewide as a means of reducing obstacles to home ownership. The resolution further requires the Insurance Commissioner to submit a comprehensive report detailing findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days before the 2026 regular session. The study is part of a broader effort to explore ways to make home purchasing more accessible, particularly by addressing the financial challenges associated with closing costs and insurance requirements.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HCR&billnumber=79&year=2025