# Hawaii SB 1044: RELATING TO THE STABILIZATION OF PROPERTY INSURANCE.

Hawaii SB 1044, RELATING TO THE STABILIZATION OF PROPERTY INSURANCE., is a 2025–2026 Regular Session (Year 1) Senate bill sponsored by Jarrett Keohokalole (Democratic); status signed, last action 2025-07-07 (Act 296, 07/07/2025 (Gov. Msg. No. 1407).); PRIA reads it as touching household money (as of 2026-10-27).

- Canonical: https://policyrisk.com/state-bill/HI-SB1044-2025
- As of: 2026-10-27
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Hawaii SB 1044
- State: Hawaii
- Session: 2025–2026 Regular Session (Year 1)
- Title: RELATING TO THE STABILIZATION OF PROPERTY INSURANCE.
- Status: signed
- Chamber: Senate
- Introduced: 2025-01-17
- Last action: 2025-07-07, Act 296, 07/07/2025 (Gov. Msg. No. 1407).
- Sponsor: Jarrett Keohokalole (Democratic)
- Cosponsors: 9
- Subjects: HPIA, HHRF, DBEDT, HGIA, Property Insurance, Hurricane Insurance Coverage, Condominiums, Condominium Loan Program, Condominium Loan Revolving Fund, Condominium Loan Loss Reserves Program, Community Development Financial Institutions, Reports, Reimbursable General Obligation Bonds, Appropriations, CPC, FIN
- Touches household money: yes
- Roll calls: 10 (220 yes, 0 no in all)
- Economic provisions PRIA read: 14

## Summary

Expands the powers of the Hawaii Property Insurance Association and reactivates the Hawaii Hurricane Relief Fund to help stabilize the property insurance market in the State. Establishes the Condominium Loan Program and the Condominium Loan Revolving Fund, to be administered by the Hawaii Green Infrastructure Authority on behalf of the Department of Business, Economic Development, and Tourism, for the purpose of providing financing for essential repairs and deferred maintenance to condominium associations. Abolishes the Condominium Loan Revolving Fund on 6/30/2047. Establishes the Condominium Loan Loss Reserves Program to incentivize lenders to provide loans at competitive rates and terms to allow condominium associations to make necessary maintenance and repairs. Requires the Insurance Commissioner to conduct a study to develop long-term solutions to help stabilize the property insurance market in the State. Requires reports to the Legislature. Authorizes the issuance of reimbursable general obligation bonds to facilitate the initial issuance of policies to condominium associations. Appropriates funds. (CD1)

## Bill overview: provisions PRIA read

- More homes can get state insurance: benefit, medium. Registered condominium associations can seek property insurance through the state association for qualifying Hawaii property. The association may also offer statewide coverage for property types facing a market failure, with the insurance commissioner’s approval. The commissioner must designate eli…
- More homes qualify for hurricane coverage: benefit, medium. The hurricane relief fund’s eligible residential property is no longer limited to properties with one to four units. Qualifying residential condominiums can also receive coverage if their association is registered, the units meet the law’s definition, and the property is residential and insurable.…
- More property insurance options for businesses: benefit, medium. With the insurance commissioner’s approval, the property insurance association may offer coverage for commercial risks. The association’s plan sets the coverage limits, so this creates another possible source of property insurance for businesses that meet the plan’s requirements.
- Insurers gain flexibility to offer coverage: benefit, low. The hurricane fund can create incentives for insurers to offer hurricane coverage, including excluding some premiums from assessments. Insurers no longer need the insurance commissioner’s permission for certain residential multi-peril coverage, and a related coverage restriction is removed. These c…
- State study of property insurance: benefit, low. Starting July 1, 2025, Hawaii provides up to $100,000 for the insurance commissioner’s property-insurance market study. The money comes from state general revenues for fiscal year 2025–2026. The state can spend less if that is all the study needs.
- Study targets Hawaii insurance stability: benefit, low. Beginning July 1, 2025, the insurance commissioner must study long-term ways to stabilize Hawaii’s property insurance market. The study covers funding, oversight, insurance models, and condominium maintenance. Findings and recommendations are due at least 20 days before the 2026 and 2027 regular se…
- Insurance surcharges may raise bills: cost, medium. Insurers can add approved surcharges to recoup assessments for the state property insurance association or hurricane relief fund. The association surcharge is capped at 2% of the policy’s total premium; motor vehicle insurance is excluded. Hurricane fund surcharges apply to policies assessed, with…
- New limits on state condo coverage: cost, medium. The association’s plan sets condominium coverage terms, limits, deductibles, and pricing rules, and it can allow coverage denials. High-rise coverage cannot last more than 60 months, and the plan may bar coverage when identified maintenance problems seriously affect insurability. Applicants must pr…
- New insurer payments to hurricane fund: cost, medium. The hurricane relief fund may assess insurers up to 3.75% of certain Hawaii property and casualty premiums in a year without a covered event. After a covered event, the rate may reach 5% and include motor vehicle premiums until related claims and other obligations are settled. These assessments are…
- New rules for hurricane fund coverage: mixed, medium. The fund’s plan, with insurance commissioner approval, sets coverage limits and deductibles; the law removes former statutory coverage caps of $750,000 for residential property and $500,000 for business property. The law does not set replacement limits. The fund does not have to accept an applicati…
- Hawaii builds hurricane insurance reserves: mixed, medium. After securing $500 million in qualifying commitments or bonds, the hurricane fund must control or freeze rates and build reserves. If its accumulated net money falls below $400 million, commissioner-approved rates must restore it to $500 million as promptly as reasonably practicable. Hawaii can is…
- Low-cost loans help condo repairs: mixed, medium. Eligible condominium associations can get low-cost financing for repairs such as fire-safety work, pipes, and roofs. An association needs at least one lender denial and must have or plan to get full replacement property and hurricane insurance; loan terms can last up to 20 years, and the associatio…
- New recording fee replaces mortgage fee: mixed, low. The old special mortgage recording fee of 0.1% of secured debt, or a qualifying debt increase, is repealed. The board may instead activate a fee of up to $44 for each eligible land document recorded or filed. The fee needs insurance commissioner approval, can last no more than 36 months, and does n…
- Mixed changes to association insurer costs: mixed, low. The property insurance association can assess member insurers for extraordinary losses, with the insurance commissioner’s approval. Each insurer’s annual assessment is capped at 2% of its prior-year net direct written premiums, and collections can last up to 36 months. Insurers get at least 30 days…

## Sponsors and cosponsors

- Sponsor: Jarrett Keohokalole (Democratic), Senate
- Cosponsor: AQUINO
- Cosponsor: Stanley Chang (Democratic), Senate
- Cosponsor: Carol Fukunaga (Democratic), Senate
- Cosponsor: Troy N. Hashimoto (Democratic), Senate
- Cosponsor: Angus L.K. McKelvey (Democratic), Senate
- Cosponsor: Sharon Y. Moriwaki (Democratic), Senate
- Cosponsor: Karl Rhoads (Democratic), Senate
- Cosponsor: Herbert M. "Tim" Richards III (Democratic), Senate
- Cosponsor: Glenn Wakai (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-04-30 | House | House Floor Vote | pass | 50 | 0 |   |
| 2025-04-25 | Senate | The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS.... | pass | 4 | 0 |   |
| 2025-04-25 | House | The Conference Committee recommends that the measure be Passed, with Amendments.... | pass | 5 | 0 |   |
| 2025-04-08 | House | House Floor Vote | pass | 49 | 0 |   |
| 2025-03-31 | House | The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The ... | pass | 14 | 0 |   |
| 2025-03-18 | House | Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN... | pass | 49 | 0 |   |
| 2025-03-12 | House | The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The ... | pass | 8 | 0 |   |
| 2025-03-04 | Senate | Senate Floor Vote | pass | 25 | 0 |   |
| 2025-02-12 | Senate | The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENT... | pass | 13 | 0 |   |
| 2025-01-31 | Senate | The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENT... | pass | 3 | 0 |   |

## Actions (49)

- 2025-07-07: Act 296, 07/07/2025 (Gov. Msg. No. 1407). (Senate)
- 2025-07-07: Act 296, on 07/07/2025 (Gov. Msg. No. 1407). (House)
- 2025-05-02: Received notice of passage on Final Reading in House (Hse. Com. No. 821). (Senate)
- 2025-05-02: Enrolled to Governor. (Senate)
- 2025-05-01: Received notice of Final Reading (Sen. Com. No. 888). (House)
- 2025-04-30: Passed Final Reading, as amended (CD 1). Ayes, 25; Aye(s) with reservations: none . 0 No(es): none. 0 Excused: none. (Senate)
- 2025-04-30: Passed Final Reading as amended in CD 1 with none voting aye with reservations; none voting no (0) and Representative(s) Cochran excused (1). (House)
- 2025-04-25: Conference committee meeting to reconvene on 04-25-25 3:50 PM; Conference Room 224. (Senate)
- 2025-04-25: The Conference committee recommends that the measure be PASSED, WITH AMENDMENTS. The votes of the Senate Conference Managers were as follows: 4 Aye(s): Senator(s) Keohokalole, Moriwaki, Fukunaga, McKelvey; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Awa. (Senate)
- 2025-04-25: The Conference Committee recommends that the measure be Passed, with Amendments. The votes were as follows: 5 Ayes: Representative(s) Matayoshi, Yamashita, Chun, Tam, Pierick; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none. (House)
- 2025-04-25: Reported from Conference Committee as amended CD 1 (Conf. Com. Rep. No. 206). (Senate)
- 2025-04-25: 48 Hrs. Notice (as amended CD 1) 04-30-25. (Senate)
- 2025-04-25: Reported from Conference Committee (Conf Com. Rep. No. 206) as amended in (CD 1). (House)
- 2025-04-25: Forty-eight (48) hours notice Wednesday, 04-30-25. (House)
- 2025-04-24: Conference committee meeting to reconvene on 04-25-25 1:30PM; Conference Room 224. (Senate)
- 2025-04-23: Conference Committee Meeting will reconvene on Thursday 04-24-25 1:30PM in conference room 224. (House)
- 2025-04-22: Conference committee meeting to reconvene on 04-23-25 1:31PM; Conference Room 224. (Senate)
- 2025-04-21: Conference committee meeting scheduled for 04-22-25 1:30PM; Conference Room 224. (Senate)
- 2025-04-17: Senate Conferees Appointed: Keohokalole Chair; Moriwaki Co-Chair; Fukunaga, McKelvey, Awa. (Senate)
- 2025-04-17: Received notice of Senate conferees (Sen. Com. No. 829). (House)
- 2025-04-15: Received notice of appointment of House conferees (Hse. Com. No. 731). (Senate)
- 2025-04-14: House Conferees Appointed: Matayoshi, Yamashita Co-Chairs; Chun, Tam, Pierick. (House)
- 2025-04-10: Received from House (Hse. Com. No. 669). (Senate)
- 2025-04-10: Senate disagrees with House amendments. (Senate)
- 2025-04-10: Received notice of disagreement (Sen. Com. No. 779). (House)
- 2025-04-08: Passed Third Reading as amended in HD 2 with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Marten excused (2). Transmitted to Senate. (House)
- 2025-04-04: Reported from FIN (Stand. Com. Rep. No. 2010) as amended in HD 2, recommending passage on Third Reading. (House)
- 2025-04-04: Forty-eight (48) hours notice Tuesday, 04-08-25. (House)
- 2025-03-31: The committee on FIN recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 14 Ayes: Representative(s) Yamashita, Takenouchi, Grandinetti, Hussey, Keohokapu-Lee Loy, Kitagawa, Kusch, Lamosao, Lee, M., Miyake, Morikawa, Templo, Alcos, Reyes Oda; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Holt, Ward. (House)
- 2025-03-28: Bill scheduled to be heard by FIN on Monday, 03-31-25 3:15PM in House conference room 308 VIA VIDEOCONFERENCE. (House)
- 2025-03-18: Reported from CPC (Stand. Com. Rep. No. 1298) as amended in HD 1, recommending passage on Second Reading and referral to FIN. (House)
- 2025-03-18: Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Ward excused (2). (House)
- 2025-03-12: The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Kong, Marten, Tam, Pierick; Ayes with reservations: Representative(s) Iwamoto; Noes: none; and 2 Excused: Representative(s) Ichiyama, Lowen. (House)
- 2025-03-10: Bill scheduled to be heard by CPC on Wednesday, 03-12-25 2:00PM in House conference room 329 VIA VIDEOCONFERENCE. (House)
- 2025-03-06: Pass First Reading (House)
- 2025-03-06: Referred to CPC, FIN, referral sheet 19 (House)
- 2025-03-04: Report adopted; Passed Third Reading, as amended (SD 2). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House. (Senate)
- 2025-03-04: Received from Senate (Sen. Com. No. 247) in amended form (SD 2). (House)
- 2025-02-27: Reported from WAM (Stand. Com. Rep. No. 730) with recommendation of passage on Third Reading, as amended (SD 2). (Senate)
- 2025-02-27: 48 Hrs. Notice 03-04-25. (Senate)
- 2025-02-12: The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none. (Senate)
- 2025-02-10: The committee(s) on WAM will hold a public decision making on 02-12-25 10:01AM; Conference Room 211 & Videoconference. (Senate)
- 2025-02-07: Reported from CPN (Stand. Com. Rep. No. 88) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM. (Senate)
- 2025-02-07: Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. (Senate)
- 2025-01-31: The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 3 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Richards, Awa. (Senate)
- 2025-01-24: The committee(s) on CPN has scheduled a public hearing on 01-31-25 9:30AM; Conference Room 229 & Videoconference. (Senate)
- 2025-01-23: Referred to CPN, WAM. (Senate)
- 2025-01-21: Passed First Reading. (Senate)
- 2025-01-17: Introduced. (Senate)

## Bill text

- Bill Text: [PDF](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_CD1_.pdf)
- Original: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_.HTM), [PDF](https://data.capitol.hawaii.gov/sessions/session2025/bills/GM1407_.PDF)
- SB1044_CD1: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_CD1_.HTM)
- SB1044_HD1: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_HD1_.HTM)
- SB1044_HD2: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_HD2_.HTM)
- SB1044_SD1: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_SD1_.HTM)
- SB1044_SD2: [HTML](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_SD2_.HTM)

## Related bills

- HB 431: RELATING TO HOUSING. (signed)
- HB 420: RELATING TO REMEDIES. (signed)
- SB 1296: RELATING TO DISASTER RECOVERY. (signed)
- HB 830: RELATING TO HISTORIC PRESERVATION REVIEWS. (signed)
- HB 1064: RELATING TO FIRE PROTECTION. (signed)
- HB 943: RELATING TO HOMELESSNESS. (signed)

## Sources
- [Bill Text (PDF)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_CD1_.pdf)
- [Original (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_.HTM)
- [Original (PDF)](https://data.capitol.hawaii.gov/sessions/session2025/bills/GM1407_.PDF)
- [SB1044_CD1 (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_CD1_.HTM)
- [SB1044_HD1 (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_HD1_.HTM)
- [SB1044_HD2 (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_HD2_.HTM)
- [SB1044_SD1 (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_SD1_.HTM)
- [SB1044_SD2 (HTML)](https://data.capitol.hawaii.gov/sessions/session2025/bills/SB1044_SD2_.HTM)

## Related
- [HB 431: RELATING TO HOUSING.](https://policyrisk.com/state-bill/HI-HB431-2025)
- [HB 420: RELATING TO REMEDIES.](https://policyrisk.com/state-bill/HI-HB420-2025)
- [SB 1296: RELATING TO DISASTER RECOVERY.](https://policyrisk.com/state-bill/HI-SB1296-2025)
- [HB 830: RELATING TO HISTORIC PRESERVATION REVIEWS.](https://policyrisk.com/state-bill/HI-HB830-2025)
- [HB 1064: RELATING TO FIRE PROTECTION.](https://policyrisk.com/state-bill/HI-HB1064-2025)
- [HB 943: RELATING TO HOMELESSNESS.](https://policyrisk.com/state-bill/HI-HB943-2025)
- [Hawaii bills](https://policyrisk.com/states/hawaii/bills)
- [Hawaii state hub](https://policyrisk.com/states/hawaii)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/HI-SB1044-2025 (as of 2026-10-27).