Title 28, Property

[§514E-10.3] Time share owners association; budgets and reserves. (a) For each fiscal year, the plan manager, or the board of the association if there is no plan manager, shall adopt an operating budget and distribute copies to all members of the association. The budget shall con…

§514E-10.5 Consultant review of developer filing. The director may contract with private consultants in connection with the review of the filing required of time share developers pursuant to section 514E-10(a) and (e). The cost of contracting private consultants shall be borne by…

§514E-11 Prohibited practices. It is a violation of this chapter for any sales agent or acquisition agent of time share units or plans to: (1) Fail to comply with the disclosure requirements set forth in section 514E-9 or any rule adopted pursuant thereto; (2) Use any promotional…

§514E-11.1 Deceptive trade practices. It shall constitute an unfair or deceptive practice, within the meaning of chapter 480, for any developer, acquisition agent, or sales agent of time share units or plans to: (1) Use any promotional device, including but not limited to enterta…

§514E-11.2 Power to enjoin. (a) Whenever it shall appear to the director, upon complaint or otherwise, that any person has engaged in, is engaged in, or is about to engage in any act, practice or transaction in violation of this chapter or the rules of the director adopted pursua…

[§514E-11.3] Remedies; sales voidable; when and by whom. Every sale or transfer made in violation of this chapter shall be voidable at the election of the purchaser. Without limiting any other remedy of the purchaser, the person making the sale or transfer and every director, off…

[§514E-11.4] Defense to action. In the event a purchaser of a time share interest brings an action for damages under this chapter or under chapter 480, pursuant to section 514E-11.1, it shall be a defense to the action that: (1) The seller offered in writing to cancel the sale of…

§514E-12 Civil penalty; suspension or revocation of registrations. (a) For any cause authorized by law, including but not limited to a determination by the director that any person has violated any provision of this chapter or any rule adopted by the director pursuant to this cha…

[§514E-12.5] Statutory or common-law remedies. Nothing in this chapter shall limit any statutory or common-law right of any person to bring any action in any court for any act involved in the development, sale, exchange, or purchase of a time share interest, or right of the State…

[§514E-13] Authority of director. The director and the several counties may adopt rules and forms, pursuant to chapter 91, to effectuate the purpose of this chapter and to implement its provisions. The director shall submit an annual report to the legislature. [L 1980, c 186, pt …

[§514E-14] Preexisting time share units and plans. Time share units and time share plans for existing units which were created in a project prior to June 29, 1980, shall, within six months after June 29, 1980, comply with this chapter, except as to section 514E-5. [L 1980, c 186,…

[§514E-15] Severability. If any provision of this chapter or the application thereof to any person or circumstance, is held invalid, the invalidity thereof shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or…

§514E-16 Deposit of purchaser's funds, notes, and contracts into escrow. (a) All funds and any negotiable instruments and purchase money contracts received before closing from or on behalf of purchasers or prospective purchasers in connection with the purchase or reservation of t…

§514E-17 Release of purchaser's funds, notes, and contracts from escrow without a closing. A purchaser's funds, negotiable instruments, and purchase money contracts may be released from escrow without a closing as follows: (1) If a purchaser or developer gives a valid notice of c…

§514E-18 Release of purchaser's funds, notes, and contracts from escrow upon closing. (a) Upon the closing of the escrow for the sale of a time share interest, the purchaser's funds and any negotiable instruments and purchase money contracts made by the purchaser shall be deliver…

§514E-19 Protection of purchasers from blanket liens. (a) An escrow for the sale of a time share interest in a time share ownership plan may close only if the requirements of any one of the following alternatives for protecting the purchaser have been satisfied: (1) The time shar…

§514E-2 Status of property. (a) The temporal division of any interest in real property shall not, in and of itself, affect its status as real property. (b) Whether a time share plan is a time share ownership plan or time share use plan, for purposes of chapter 467 a time share in…

§514E-2.5 Licensing of sales agents and acquisition agents. (a) Except as provided in section 467-2, no sales agent shall act or assume to act as a real estate salesperson or a real estate broker without a license previously obtained under and in compliance with chapter 467 and t…

§514E-20 Effect of recording a nondisturbance agreement. When a nondisturbance agreement has been executed by the lienholder and recorded, the lienholder, its successors, and anyone who acquires the property through foreclosure or by a deed, assignment, or other transfer in place…

§514E-21 Effect of recording a notice of time share plan. When a notice of time share plan is recorded, claims by creditors of the developer and claims upon, or by successors to, the interest of the title holder who executed the notice of time share plan, shall be subordinate to …

§514E-22 General requirements for trusts. If time share units are required to be conveyed to a trustee pursuant to section 514E-19, the trust instrument must provide for at least the following: (1) Title to the time share units must be transferred to the trustee before the purcha…

§514E-23 Requirements for trustees. If time share units are conveyed to a trustee pursuant to section 514E-19, the following requirements shall be met: (1) The trustee must be a bank, savings and loan association, or a trust company meeting the requirements of any rules adopted b…

§514E-24 Additional requirements for lien payment trusts. (a) If a lien payment trust is established to meet the requirements of section 514E-19, then in addition to the requirements of section 514E-22, the trust instrument shall: (1) Require the deposit into trust of a lien paym…

§514E-25 Lien payment deposit. (a) The lien payment deposit shall consist of either: (1) Nondelinquent purchase money contracts from purchasers of time share interests in the time share plan; or (2) Other assets deposited into trust by the developer and approved by the director. …

§514E-26 Termination of a trust. (a) In the case of a time share use plan, the trust for the time share units shall be irrevocable during the time that any owner of a time share interest has a right to the occupancy of a time share unit, except as provided in subsection (c). (b) …

§514E-27 Alternative arrangements for purchaser protection. (a) In recognition of the impossibility or impracticability of a proposed time share plan satisfying some of the requirements of section 514E-19 because of factors over which the developer has little or no control, the d…

§514E-28 Requirements for surety bonds and letters of credit. Any surety bond or irrevocable letter of credit furnished to the director pursuant to section 514E-19 must be in an amount which is not less than one hundred ten per cent of the remaining principal balance of every ind…

§514E-29 Association; lien for delinquent assessments. (a) All time share plans shall have an association which shall be a nonprofit or not-for-profit corporation, a nonprofit or not-for-profit limited liability company, or any other entity organized on a nonprofit or not-for-pro…

§514E-3 Taxation. (a) The plan manager, if any, shall collect and pay real property and transient accommodations taxes due on the time share units or occupants under the plan manager's authority as the agent of the owners of the individual units or temporal divisions thereof. The…

§514E-30 Scope of chapter. This chapter applies to the offer and sale in Hawaii of time share interests in time share units located in Hawaii. If time share units are located outside of Hawaii, but any offer or sale is made within the State, this chapter, except for sections 514E…

[§514E-31] Private right of action. Nothing in this chapter shall be construed to preclude a person aggrieved by a violation of this chapter from filing an action in court for civil damages. A violation of this chapter shall be deemed a cause of action for the purpose of the cour…

[§514E-4] County authority. The several counties shall, by amendment of their zoning ordinances, limit the location of time share units, time share plans and other transient vacation rentals, within such areas as are deemed appropriate. [L 1980, c 186, pt of §1]

§514E-5 Geographic limitations. (a) Except as provided in this section, time share units, time share plans, and transient vacation rentals are prohibited. (b) Existing time share units, time share plans, and transient vacation rentals are not impaired by the provisions of this se…

§514E-5.5 Foreign time share plans; exemption. (a) A foreign time share plan may obtain an exemption from the requirements of this chapter as provided in this section. (b) The developer of a foreign time share plan shall pay an exemption fee of $100 and file the following minimum…

§514E-6 Time sharing in projects. (a) If the project in which the time share unit or time share plan is to be created contains an existing time share unit or time share plan, then time share units and plans [shall] be regulated according to the terms of the project instruments. (…

[§514E-6.5] Voting rights for time share units. Voting rights for any apartment units designated or sold as time share units shall be as provided in rules adopted by the director of the department of commerce and consumer affairs; provided the rules shall seek to provide reasonab…

[§514E-7] Maintenance charges. If time share units, or transient vacation rentals are located in the same project as private residential units, charges for the maintenance of common elements assessed against time share and transient vacation rental units may exceed the charges as…

§514E-8 Mutual right to cancel. Within seven calendar days after the execution of the contract to purchase an interest in a time share plan, or within seven calendar days after the purchaser's receipt of a disclosure statement required by this chapter, whichever occurs later, eit…

[§514E-8.5] Classes of time share interests. (a) A time share plan may establish classes of time share interests defined by characteristics as the developer shall determine, including but not limited to season, unit size, location, view, or otherwise. (b) If one or more of the ti…

[§514E-8.6] One-to-one use-right to use-night requirement. (a) A developer shall not offer or dispose of a time share unit or a time share interest unless the one-to-one use-right to use-night requirement is currently satisfied and will continue to be satisfied for the duration o…

§514E-9 Disclosure statement. (a) Any offering of a time sharing plan to the public shall disclose: (1) The name and address of the developer and of the time share units; (2) The name and address of the plan manager, if any, and a description of the plan manager's responsibilitie…

[§514E-9.1] Disclosure statement; prospective purchasers. The purchaser of a time share interest shall be provided a copy of the disclosure statement filed with and accepted by the director concurrently with the execution of a sales contract. The disclosure statement shall be pro…

[§514E-9.5] Exchange program; general provisions. (a) An exchange agent (including the developer if it is also an exchange agent) shall distribute not less than annually to each purchaser of a time share interest participating in the exchange program materials containing written …

[§514E-9.8] Time share interest owner referrals. (a) An owner of an interest in a time share plan duly registered under this chapter who is not licensed under chapter 467 and provides the name and address of a prospective purchaser or otherwise refers a prospective purchaser of a…