Bill > HB2200

This bill aims to address Hawaii's housing crisis by prohibiting certain entities from purchasing single-family residences, which are defined as properties with one to four dwelling units, with some exceptions like unoccupied foreclosed properties or those used as a principal residence by an owner within the purchasing entity. A "covered entity" is defined as a partnership, corporation, or real estate investment trust that owns at least ten single-family residences, pools investor funds, and has at least $30 million in net value or assets under management, excluding non-profits like community land trusts and entities primarily involved in construction or rehabilitation. The bill requires these covered entities to report acquisition dates of single-family residences and whether subsequent purchasers own other single-family residences, with penalties of up to half the property's fair market value for violations and a $20,000 fine for failure to report accurate information. Additionally, purchasers from covered entities must certify they are not covered entities themselves, and the Department of Commerce and Consumer Affairs is tasked with establishing reporting procedures, forms, and rules, with enforcement by the Attorney General.

Housing and Urban Affairs

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2200&year=2026