Title 28, Property

PART I. RIGHT OF FIRST REFUSAL §514C-1 Definitions. For purposes of this chapter unless the context indicates otherwise: "Condominium" means the ownership of single units, with common elements, located on property within the condominium property regime. "Condominium project" mean…

§514C-2 Right of first refusal. When the leased fee interest in land under a condominium project or cooperative project or any part thereof is to be sold to any party other than the association of owners or the cooperative housing corporation, the seller shall first provide the b…

PART II. VOLUNTARY CONVERSIONS [§514C-21] Definitions. As used in this part, unless the context requires otherwise: "Lessor" means any or all of the fee simple owners and other persons having legal or equitable ownership interests in the leased fee interest appurtenant to the var…

§514C-22 Power of association of owners to negotiate, purchase, and sell lessor's interest. (a) The association under chapter 514B may purchase the lessor's interest in the condominium project; provided that the declaration of condominium property regime shall either contain or b…

§514C-3 Improvements. The right of first refusal to purchase the leased fee interest in land created by this part shall be deemed to include the right to purchase the interest of the seller in any and all improvements on such land, other than the leasehold interest in any unit as…

§514C-4 Compliance with procedures not required when. Nothing in this part shall prohibit any lessor and association of condominium owners or cooperative housing corporation from agreeing to the sale and purchase of the leased fee interest or any part thereof. [L 1988, c 298, pt …

§514C-5 Offer to other prospective purchasers; time limit. No lessor shall sell the leased fee interest in any land under a condominium project or cooperative project containing one or more residential units or any part thereof to any party other than the association of owners or…

§514C-6 Powers of association of owners and cooperative housing corporation. (a) The association under chapter 514B or cooperative housing corporation may purchase the leased fee interest in the land; provided that at least sixty-seven per cent of the condominium unit lessees or …

§514C-6.5 Sales to individual lessees. Notwithstanding any other provision in this part to the contrary, a lessor may sell the leased fee interest in any land under a condominium project or cooperative project or any part thereof to individual condominium unit lessees or cooperat…

§514C-7 Violations; voidable sale. Any sale made that violates this part shall be voidable at the option of the association of owners or the cooperative housing corporation. If any sale is so voided, the association of owners or cooperative housing corporation shall then have the…

§514C-8 Exception. (a) This part shall not apply if the land under the condominium project or cooperative housing corporation subject to a leased fee interest is part of a larger tract of land and the lessor will not agree to sell the leased fee interest in the land in parts. (b)…

Part I. DIRECT FINANCING [§514D-1] Definitions. As used in this chapter, unless the context clearly requires otherwise: "Authority" means the Hawaii green infrastructure authority as established under section 196-63. "Community development financial institution" means an entity c…

PART II. CREDIT ENHANCEMENT THROUGH LOAN LOSS RESERVES [§514D-11] Condominium loan loss reserves program. (a) There is established within the authority the condominium loan loss reserves program to incentivize community development financial institutions, in accordance with this …

[§514D-12] Participating community development financial institutions; reserve account. (a) To participate in the condominium loan loss reserves program, an eligible community development financial institution shall enter into a participation agreement with the authority that set…

[§514D-13] Loans. (a) Except as otherwise provided by this chapter, the authority shall determine the recipient, amount, or interest rate of a loan under this part or the fees or other requirements related to the loan. (b) To qualify as a loan under this part, a loan shall: (c) F…

[§514D-14] Limitations on amounts retained in reserve accounts. The maximum aggregate amount the authority may retain on deposit in a reserve account shall not exceed five per cent of the aggregate outstanding principal balance of enrolled loans. On a regular basis, no less than …

[§514D-15] State's rights with respect to reserve account. (a) All of the money in a reserve account established under this part shall be the property of the State. (b) The State shall be entitled to earn interest on the amount of contributions made by the authority, borrower, an…

[§514D-16] Participating community development financial institution's annual reports. A participating community development financial institution shall submit an annual report to the authority. The report shall:

[§514D-17] Authority's annual report; audits. (a) The authority shall submit to the legislature an annual status report on the condominium loan loss reserves program's activities. (b) The condominium loan revolving fund shall be audited at least annually by a firm of independent …

[§514D-18] State liability prohibited. The State shall not be liable to a participating community development financial institution for payment of the principal, interest, or any late charges on a loan made by a participating community development financial institution to a quali…

[§514D-2] Powers; rulemaking. In addition to any other powers authorized by law, the authority may:

[§514D-3] Condominium loan program. There is established within the authority the condominium loan program to provide qualified condominium associations with low-cost financing, or refinancing for loans previously obtained, for maintenance or repair projects in accordance with th…

[§514D-4] Condominium loan revolving fund. (a) There is established in the state treasury the condominium loan revolving fund, into which shall be deposited: (b) Moneys in the condominium loan revolving fund shall be expended by the authority for:

[§514D-5] Loans; limitations and conditions. (a) Loans under this chapter shall be for financing, or refinancing previous loans that were used for, the following maintenance or repairs in a condominium project: (b) The loan agreement shall require that the qualified condominium a…

[§514D-6] Loans; eligibility. The authority may make loans directly to a condominium association that has:

[§514D-7] Annual reports. The authority shall submit a report to the legislature no later than twenty days prior to the convening of each regular session that details the progress of the condominium loan program, aggregate data on the loans issued under this part, and the balance…

[§514D-8] Gifts and grants. The authority may accept gifts, grants, and donations from any source for the purposes of this chapter. [L 2025, c 296, pt of §19]

§514E-1 Definitions. As used in this chapter, unless the context otherwise requires: "Acquisition agent" means any person, other than a developer or sales agent, who, for compensation, solicits or encourages others to attend a time share sales presentation or to contact a time sh…

§514E-1.5 Time share administrator; duties. The director shall appoint a time share administrator, who shall not be subject to chapter 76, to administer this chapter. The administrator shall be responsible for the performance of the duties conferred upon the director by this chap…

§514E-10 Registration required; developer, acquisition agent, plan manager, and exchange agent; registration renewal; title report; title holding trusts. (a) A developer shall not offer or dispose of a time share unit or a time share interest unless the disclosure statement requi…

[§514E-10.2] Limited permit. (a) Notwithstanding any other provision of this chapter, the director may issue a limited permit to a developer permitting the offer or sale, in this State, of an additional interest in a time share plan to an existing purchaser in the same time share…

[§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: Any violation of this section shall also constitute an unlawful or deceptive practice within the meaning of section 480-2; provided that in a…

§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:

§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:

§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:

§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…