Chapter 201H — Chapter 201H

[PART I. GENERAL PROVISIONS] §201H-1 Definitions. The following terms, wherever used or referred to in this chapter, shall have the following respective meanings, unless a different meaning clearly appears from the context: "Board" means the board of directors of the Hawaii housi…

§201H-10 Cooperative agreements with other governmental agencies. (a) The corporation may: (b) For the purpose of aiding and cooperating in the planning, construction, and operation of housing projects located within their respective territorial boundaries, any state or county ag…

§201H-100 Housing loan programs; fees. The corporation may establish, revise, charge, and collect fees, premiums, and charges as necessary, reasonable, or convenient, for its housing loan programs. The fees, premiums, and charges shall be deposited into the housing loan program r…

§§201H-102 to 201H-104 REPEALED. L 2013, c 135, §§5 to 7.

§201H-110 Loans; default. The corporation may:

§201H-12 Development of property. (a) The corporation, in its own behalf or on behalf of any federal, state, or county agency, may: For purposes of this subsection, "mixed-use developments" means a development that contains affordable residential dwelling units that may be combin…

§201H-14 Contracts with the federal government. (a) The corporation may: (b) It is the purpose and intent of this part to authorize the corporation to do any and all things necessary to secure the financial aid and the cooperation of the federal government in the undertaking, con…

F. Downpayment Loan Assistance Program §201H-161 Downpayment loans. (a) The corporation may make downpayment loans, either directly or through a nonprofit organization as defined in section 454F-1, to eligible borrowers who qualify for loans under section 201H-162. The downpaymen…

§201H-162 Qualifications for downpayment loans. (a) No person shall be qualified for a downpayment loan unless the person: (b) No person who owns in fee simple or in leasehold any other residential property within the State shall be eligible to become a borrower under this sectio…

G. Homebuyers' Club Program §201H-171 Homebuyers' club program. (a) The corporation may establish a homebuyers' club program for participants who are desirous of purchasing a home and who have adequate incomes but who lack sufficient funds for the downpayment and closing costs. T…

I. Dwelling Unit Revolving Fund §201H-191 Dwelling unit revolving fund. (a) There is created a dwelling unit revolving fund. The funds appropriated for the purpose of the dwelling unit revolving fund and all moneys received or collected by the corporation for the purpose of the r…

§201H-2 Hawaii housing finance and development corporation; establishment, staff. (a) There is established the Hawaii housing finance and development corporation to be placed within the department of business, economic development, and tourism for administrative purposes only. Th…

J. Rental Housing Revolving Fund §201H-201 Definitions. As used in this subpart, unless a different meaning is clearly required by the context: "Develop" or "development" means the planning, financing, or acquisition of real and personal property; demolition of existing structure…

§201H-202 Rental housing revolving fund. [Repeal and reenactment on June 30, 2030. L 2025, c 159, §8.] (a) There is established the rental housing revolving fund to be administered by the corporation. (b) An amount from the fund, to be set by the corporation and authorized by the…

§201H-204 Eligible projects. (a) [Repeal and reenactment on June 30, 2030. L 2025, c 159, §8.] Activities eligible for assistance from the fund shall include but not be limited to: (b) Preference shall be given to projects producing units in at least one of the following categori…

[K.] Affordable Homeownership Revolving Fund §201H-206 Affordable homeownership revolving fund. (a) There is established an affordable homeownership revolving fund to be administered by the corporation for the purpose of providing, in whole or in part, loans to nonprofit communit…

§201H-21 Duty to make reports. Except as otherwise provided by law, the corporation shall:

§201H-210 Renumbered as §201H-205.

[PART IV.] EXPENDITURES OF REVOLVING FUNDS UNDER THE CORPORATION EXEMPT FROM APPROPRIATION AND ALLOTMENT §201H-211 Expenditures of revolving funds under the corporation exempt from appropriation and allotment. Except as to administrative expenditures, and except as otherwise prov…

§201H-3 Board; establishment, functions, duties. (a) There is created a board of directors of the Hawaii housing finance and development corporation consisting of nine members, of whom six shall be public members appointed by the governor as provided in section 26-34. At least fo…

§201H-36 Exemption from general excise taxes. (a) [Repeal and reenactment on June 30, 2030. L 2018, c 39, §4.] In accordance with section 237-29, the corporation may approve and certify for exemption from general excise taxes any qualified person or firm involved with a newly con…

§201H-37 Exemption from tax on income and obligations. Income earned and obligations issued by a nonprofit entity determined to constitute a "public housing agency" pursuant to section 3(b)(6) of the United States Housing Act of 1937, as amended, and which income and obligations …

§201H-38 Housing development; exemption from statutes, ordinances, charter provisions, and rules. (a) The corporation may develop on behalf of the State or with an eligible developer, or may assist under a government assistance program in the development of, housing projects that…

§201H-4 General powers. (a) The corporation may: (b) In addition to other powers conferred upon it, the corporation may do all things necessary and convenient to carry out the powers expressly provided in this chapter. [L 2005, c 196, pt of §20; am L 2006, c 180, §15; am L 2009, …

§201H-41 Independent development of projects. (a) In any county, the corporation may develop or may enter into agreements to develop housing projects with an eligible developer if in the corporation's reasonable judgment a project is primarily designed for lower income housing. T…

§201H-44 Commercial, industrial, and other uses. (a) In connection with the development of any dwelling units under this chapter, the corporation may also develop commercial, industrial, and other properties if it determines that the uses can be an integral part of the developmen…

§201H-46 Co-mortgagor. For purposes of qualifying for a mortgage loan to finance the purchase of a dwelling unit under this part, a qualified resident as defined in section 201H‑32 may be assisted by a co-mortgagor who is a family member as defined by the corporation, and who may…

§201H-47 Real property; restrictions on transfer; waiver of restrictions. (a) The following restrictions shall apply to the transfer of real property developed and sold under this chapter, whether in fee simple or leasehold: (b) If the corporation waives its first option to repur…

§201H-50 Restrictions on use, sale, and transfer of real property; effect of amendment or repeal. (a) Restrictions on the use, sale, and transfer of real property shall be made as uniform as possible in application to purchasers of all real property, and restrictions shall be con…

§201H-6 Housing advocacy and information system. (a) The corporation, with the assistance of other agencies of the State and counties with related responsibilities, shall develop and maintain a housing advocacy and information system to aid the corporation in meeting the needs an…

§201H-7 Housing research. (a) The corporation may study the plans of any government regarding the clearing, replanning, or reconstruction of an area where unsafe or unsanitary dwelling or housing conditions exist. (b) The corporation may purchase materials for the development of …

[PART III.] FINANCING PROGRAMS A. General Provisions §201H-71 Bonds; authorization. (a) The corporation, with the approval of the governor, may issue from time to time bonds (including refunding bonds to pay, retire, or provide for the retirement of bonds previously issued by the…

§201H-72 Issuance of bonds for the development of infrastructure. (a) Without limiting section 201H-71, the corporation, pursuant to and in accordance with this subpart, section 46-80.1(a), or section 201H-191.5, may issue bonds for the purpose of financing the development of inf…

§201H-75 Trustee; designation, duties. (a) The corporation may designate a trustee for each issue of bonds secured under the same trust indenture; provided that the trustee shall be approved by the director of finance. (b) The trustee shall be authorized by the corporation to rec…

§201H-80 Housing finance revolving fund; bond revolving funds. (a) There is created a housing finance revolving fund to be administered by the corporation. Notwithstanding sections 36-21 and 201H-191, the proceeds in the fund shall be used for long-term and other special financin…

§201H-81 REPEALED. L 2014, c 132, §4.

§201H-85 REPEALED. L 2015, c 237, §3.

B. Housing Loan and Mortgage Program §201H-91 Definitions. The following words or terms as used in this subpart shall have the following meanings unless a different meaning clearly appears from the context: "Eligible borrower" means a person or family, without regard to race, cre…

§201H-94 Eligible loans. (a) The corporation shall establish requirements for property financed by an eligible loan, and may consider the location, age, condition, and other characteristics of the property. (b) The corporation shall establish restrictions on the terms, maturities…

§201H-95 Eligible project loans. (a) The corporation shall establish requirements for rental housing projects to be financed by an eligible project loan, and may consider the location, age, condition, and other characteristics of the project. (b) The corporation shall establish r…

§201H-97 Housing loan programs; procedures and requirements. (a) The corporation shall establish procedures for: (b) The corporation shall establish standards and requirements for: (c) The standards and requirements for the allocation of funds to mortgage lenders shall be adopted…