§516-66 Lease rental. (a) In every case of an extension under section 516-65, the annual lease rental during the first thirty years shall not exceed an amount determined as follows:
(b) The annual rent payable under subsection (a) for and during the remaining period of the extended term shall be determined by mutual agreement of the lessor and the lessee or, if they fail to reach an agreement at least ninety days before the commencement of the period, by arbitration in accordance with chapter 658A. [L 1967, c 307, §39; HRS §516-66; am L 1975, c 184, §2(18); am L 2001, c 265, §4; am L 2018, c 18, §40]