Hawaii Administrative Code

(a) The requirements of this section shall be met if time share units are conveyed to a trustee under a lien payment trust established pursuant to section 514E-19, HRS. (b) The trustee shall be a bank, savings and loan association, or trust company authorized to do business in th…

(a) The time share instruments creating or regulating any time share plan in a condominium project or apartment building shall include provisions governing: (1) Voting rights of each time share owner in the time share owners association; (2) The manner in which each time share un…

(a) A prospective purchaser of any interest or interests in a time share plan shall, before signing a sales contract, be: (1) Provided with a copy of the disclosure statement which shall be a true, accurate, and complete reproduction or printing of the statement filed with and ac…

(a) The director shall issue a registration number for each time share plan in consecutive order of acceptance of the plan for registration pursuant to section 514E-10(a), HRS, and section 16-106-4(a). The registration number and the date of acceptance of the plan shall be printe…

(a) In accordance with the requirements of section 16-106-4(b) and (c), an acquisition agent and sales agent shall submit to the director an alphabetized list of the names, addresses, and telephone numbers of all employees and independent contractors who will be engaged in sellin…

In the event the director denies the registration of a developer, acquisition agent, sales agent, OPC, plan manager, or exchange agent, the director shall notify the applicant by letter of the director's action which shall include a concise statement of the reasons therefor and i…

These rules adopted by the real estate commission, hereafter referred to as "commission," are intended to clarify and implement chapter 514A, Hawaii Revised Statutes, to the end that the provisions thereunder may best be effectuated and the public interest most effectively served…

At the time of filing the notice of intention, the developer shall submit a copy of his disclosure abstract, which will become an exhibit to the initial public report issued by the commission. The disclosure abstract shall be dated. In the event there occurs any change or changes…

The commission may require filing of other documents, papers, data and information to complete the condominium registration file. Notes Haw. Code R. § 16-107-11 [Eff 6/12/81] (Auth: HRS § 514A-45) (Imp: HRS § 514A-39)

Notes Haw. Code R. § 16-107-12

Notes Haw. Code R. § 16-107-13

Notes Haw. Code R. § 16-107-14

Notes Haw. Code R. § 16-107-15

Five copies of each public report shall be furnished the developer by the commission at no charge; if additional copies are necessary, they will be secured by the developer at his expense. Copies of the public report shall be of the color prescribed by the commission. Notes Haw. …

A developer shall not make any representations to cause or lead a prospective purchaser to believe that the commission's public report is an approval of a project. Notes Haw. Code R. § 16-107-17 [Eff 6/12/81] (Auth: HRS § 514A-45) (Imp: HRS § 514A-36)

Copies of all public reports issued for the project shall be given to purchasers and prospective purchasers of a unit in the condominium project in a sale of such unit by the developer after a cancellation of an original sale or the repossession of such unit as in the case of an …

Sales contracts executed during any period the commission's most recent public report is not in effect may be rescinded at the option of the purchaser and all monies refunded to purchaser. Purchaser's right to rescind contained in this rule shall be voided thirty calendar days af…

Definitions of terms found in section 514A-3, HRS, shall be adopted by reference. In addition, the following definitions shall be included: "Apartment" means unit. "Apartment owner" means unit owner. "Administrative rules and regulations" means house rules. "Certificate of occupa…

Developers, agents, or developer's representatives are prohibited from making any offer for sale of residential units to a nonowner-occupant prior to issuance of the commission's preliminary or final public report for the project. Notes Haw. Code R. § 16-107-20 [Eff 6/12/81] (Aut…

Notes Haw. Code R. § 16-107-21

Notes Haw. Code R. § 16-107-22

Circulars, prospectus, brochures, pamphlets, leaflets, and all other advertising and promotional material on the condominium plan or project shall not be issued, circulated or published before a copy thereof shall have been previously filed with the commission. Such filing shall …

The commission's public report shall not be used for advertising purposes unless the report is used in its entirety. No portion of the report shall be underscored, italicized, or printed in larger or heavier type than the remainder of the report, unless the true copy of the repor…

The publication of announcement called for under HRS § 514A-102 shall be published not less than two days per week in two successive weeks. Notes Haw. Code R. § 16-107-25 [Eff 6/12/81] (Auth: HRS § 514A-45) (Imp: HRS § 514A-102)

Notes Haw. Code R. § 16-107-26

Notes Haw. Code R. § 16-107-27

Residential condominium projects built in a county zoned or designated hotel and resort areas shall be exempt from the provisions of Part VI, Sales to Owner-Occupants, of chapter 514A, HRS. Residential condominium projects situated in Waikiki shall not be exempt from the provisio…

The developer shall file with his notice of intention a copy of the newspaper announcement and proof of publication of announcement in the form of an affidavit from the newspaper agency or company. The affidavit shall contain the dates announcements appeared in the newspaper. Not…

If the parking stalls are designated as limited common elements, the developer shall submit with his notice of intention a definite parking assignment plan specifying the unit each parking stall is appurtenant to. The parking plan shall indicate whether each stall is a regular si…

The developer shall file with his notice of intention a specimen copy of the following forms which he proposes to use in connection with sales of residential units to owner-occupants: (1) Affidavit of intent to become an owner-occupant of a residential unit; (2) Reservation agree…

Prior to the issuance of a final public report, the developer shall file with the commission a copy of the complete construction plan and attached thereto shall be a verified statement of a registered architect or professional engineer of this State certifying that the plan is an…

At the time of filing the notice of intention, the developer shall submit a written explanation of the method of formula used in computing the percentage of common interest appurtenant to the condominium units. Notes Haw. Code R. § 16-107-5 [Eff 6/12/81] (Auth: HRS § 514A-45) (Im…

The floor area of the apartment or unit shall be computed and reported in the declaration and commission's public report as net living area. The net living area of the enclosed portion of the apartment shall be measured from the interior surface of the apartment perimeter walls. …

This subchapter implements the requirements of section 514A-83.6, HRS, that all condominium associations must follow budgets and establish statutory replacement reserves. These rules try to ensure that each owner in a condominium project pays a fair share of the short-term and lo…

Unless the context clearly indicates otherwise, the definitions in chapter 514A, HRS, apply to this subchapter and the following definitions apply to chapter 514A and this subchapter: "Asset" means any part of the association property. "Association property" means those parts of …

(a) The requirements of this section shall be subject to the transitional rules stated in section 16-107-64 and the emergency rules stated in section 16-107-67. (b) Each budget year, beginning in the 1993 budget year, the board of an existing association shall prepare and adopt a…

(a) Prior to January 1, 2000, an existing association shall collect at least fifty per cent of a full replacement reserve in its reserve account; and prior to the budget year beginning in 1997, an existing association shall collect at least twenty-five per cent of the amount whic…

(a) A board of directors of an association shall calculate the association's estimated replacement reserves based on a reserve study developed in compliance with this section. (b) The board shall compile a list of the association's assets. If the project's declaration and associa…

(a) An association shall establish at least one reserve account for its replacement reserves. Within the replacement reserve account, however, the association shall establish a separate designated fund or funds for each asset for which estimated capital expenditures or major main…

(a) An association whose replacement reserves and contingency reserves have been substantially depleted by an emergency shall have three budget years to re-establish a minimum of fifty per cent of a full replacement reserve. The three years shall be calculated from the end of the…

Nothing in this subchapter shall prohibit the establishment of a contingency reserve in compliance with this section. Unless a project's declaration or an association's bylaws provide otherwise, the board of directors may establish a contingency reserve in an amount the board con…

(a) Chapter 514A, HRS, and this subchapter shall override any contrary provisions in a project's declaration or an association's bylaws, or any other applicable documents regarding: preparation of budgets, calculation of reserve requirements, and assessment and funding of reserve…

Purchasers' monies received by an escrow prior to the issuance of a final public report shall be deposited in a trust fund with a bank, savings and loan association, or trust company authorized by the bank examination division, department of regulatory agencies, to do business un…

Replacement reserve and contingency reserve funds which an association collects from apartment owners become the property of the association. An owner who sells an apartment shall have no right to reimbursement of the replacement reserve and contingency reserve funds from either …

(a) The association's reserve study shall clearly disclose all assets for which funds are not included in the replacement reserve study because they are exempt association property. The reserve study shall also contain a brief explanation of why those assets are determined to be …

Provided an association assesses and collects sufficient funds to comply with the law and these rules, the association board may: (1) Transfer funds between the separate, designated funds required by section 16-107-66, subject to the requirements of that section; (2) Borrow funds…

An association board may lease rather than buy property to repair or replace any association property. Property which meets the definition of association property shall be deemed an asset of the association and must be included in the association's reserve study, regardless of wh…