Bill > HB1824

This bill allows condominium associations with fewer than twenty units to waive the requirement for a reserve study, which is a financial plan for future maintenance and repairs, to be reviewed by an independent professional every three years. This waiver can be approved if a majority of unit owners vote for it at a meeting, provided the association continues to provide annual reserve information to owners and the decision to waive the review is recorded and available to them. The bill aims to reduce financial burdens on very small associations while maintaining transparency and owner protections.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1824&year=2026