Bill > HB1740

This bill, effective July 1, 3000, aims to enhance the long-term benefits of housing projects approved by the Hawaii Housing Finance and Development Corporation (HHFDC) by removing certain financial and ownership requirements for qualified residents and implementing perpetual deed restrictions. Specifically, it eliminates the need for qualified residents to demonstrate financial viability or ability to pay rent, as lenders and landlords already conduct such screenings, and removes the prohibition against qualified residents holding a majority interest in land. The bill also amends exemptions from various statutes, ordinances, and rules for certain HHFDC-developed housing projects, requiring that at least eighty percent of units be sold to qualified residents and owner-occupied for at least one year, with perpetual deed restrictions ensuring ongoing residency by individuals domiciled in the State, minimum one-year rental terms, and sales exclusively to qualified residents.

Agriculture and Natural Resources, Budget and Finance, Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1740&year=2026