Bill > HB2162

This bill requires condominium associations to deposit at least ten percent of their annual revenue, excluding estimated replacement reserve assessments, into a total replacement reserves fund, which is money set aside for future repairs and replacements of common elements. The Real Estate Commission will be responsible for ensuring this minimum deposit is met and will allow unit owners, who are individuals owning a unit in the condominium, to file complaints if the requirement is not followed. Furthermore, board members of the association who fail to comply with this minimum deposit rule will be held personally responsible and could face a fine. This change aims to strengthen the financial stability of condominium associations by ensuring adequate funds are available for necessary maintenance and improvements.

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https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2162&year=2026