THE SENATE
S.B. NO.
76
THIRTY-THIRD LEGISLATURE, 2025
STATE OF HAWAII
A BILL FOR AN ACT
relating 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 its title and subsections (a) through (b) to read as follows:
"[[Struck through: []]§201H-181[[Struck through: ]]] Rent-to-own program. (a) The corporation may establish a rent-to-own program under which dwelling units that are for sale[Underlined: :]
[Underlined: (1)] [Underlined: In fee simple; or]
[Underlined: (2)] [Underlined: Leasehold on state or county land under a lease with an initial term of not less than ninety-nine years,]
may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received toward the purchase of the unit.
(b) The sales price shall be established at the beginning of the rental term and shall remain fixed for the first [[Struck through: five]] [Underlined: ten] years after the rental agreement is executed. 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: ten-year] 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 Statutory material to be repealed is bracketed and stricken.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 upon its approval.
INTRODUCED BY:
_____________________________
Report Title:
Housing; Rent-to-Own Program; Fee Simple; Leasehold
Description:
Clarifies that the dwelling units eligible for the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of not less than ninety-nine years. Increases the time period that the sales price of dwelling units under the Rent-to-Own Program shall remain fixed from five years to ten years after the rental agreement is executed.
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