Bill > HB1732

This bill establishes the "Kamaaina Homes Program" within the Hawaii Housing Finance and Development Corporation (HHFDC) to address the state's housing crisis by providing funding to counties. This program will allow counties to purchase voluntary deed restrictions from eligible homebuyers, meaning homeowners agree to certain conditions on their property in exchange for financial assistance. The goal is to create a dedicated supply of housing for local residents, particularly workforce housing for essential workers, and to prevent outmigration due to high housing costs. The program is designed to be an investment, with counties potentially selling their equity in deed restrictions in the future. The bill also makes several amendments to existing laws, including exemptions from certain procurement and conveyance tax requirements for transactions related to this program, and clarifies the use of the dwelling unit revolving fund. The program is set to sunset on June 30, 2032, and the HHFDC is required to report on its evaluation to the legislature before that date.

Budget and Finance, Housing and Urban Affairs, Justice

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1732&year=2026