Establishes a dwelling unit revolving fund equity program to address high demand for for-sale housing in Hawaii.

The bill creates a dwelling unit revolving fund equity program to address the high, unmet demand for for-sale housing in Hawaii. The Hawaii Housing Finance and Development Corporation can purchase equity in for-sale housing development projects in the form of a second mortgage loan. Eligible buyers must be bona fide residents of Hawaii, own no other real property, and not receive gift funds. Eligible buyers must also work in a profession facing a shortage, such as healthcare workers, educators, law enforcement officers, or agricultural field workers.

Establishes a dwelling unit revolving fund equity program to address high demand for for-sale housing in Hawaii.

The bill creates a dwelling unit revolving fund equity program to address the high, unmet demand for for-sale housing in Hawaii. The Hawaii Housing Finance and Development Corporation can purchase equity in for-sale housing development projects in the form of a second mortgage loan. Eligible buyers must be bona fide residents of Hawaii, own no other real property, and not receive gift funds. Eligible buyers must also work in a profession facing a shortage, such as healthcare workers, educators, law enforcement officers, or agricultural field workers.