THE SENATE
S.B. NO.
2197
THIRTY-THIRD LEGISLATURE, 2026
STATE OF HAWAII
A BILL FOR AN ACT
Related to housing.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 201H-181, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) The sales price shall be established at the beginning of the rental term and shall remain fixed [[Struck through: for the first five years after the rental agreement is executed.]] [Underlined: during the option period established by the corporation.] During this period, the participant shall have the option of purchasing the unit at the designated sales price. If the participant does not elect to purchase the unit within the [[Struck through: five-year]] [Underlined: option] period, the renter shall forfeit the right to continue living in the unit and the unit shall be made available to another purchaser or renter."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050.
INTRODUCED BY:
_____________________________
Report Title:
HHFDC; Rent-to-Own Program; Option Period; Sales Price
Description:
Replaces the five-year period during which the sales price of a rent-to-own dwelling unit shall remain fixed with an option period established by the Hawaii Housing Finance and Development Corporation. Effective 7/1/2050.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.