Establishes a revolving fund equity program for for-sale housing units in Hawaii, targeting specific residents.

The bill establishes a five-year dwelling unit revolving fund equity program for the Hawaii Housing Finance and Development Corporation. This program aims to address the high, unmet demand for for-sale housing units by Hawaii residents, particularly those who own no other real property, receive no gift funds, and work in specific professions. The corporation can purchase equity in for-sale housing development projects, allocating the equity to specific units and reducing the price for eligible buyers. Buyers must repay the corporation's equity if they sell the unit within thirty years.

Establishes a revolving fund equity program for for-sale housing units in Hawaii, targeting specific residents.

The bill establishes a five-year dwelling unit revolving fund equity program for the Hawaii Housing Finance and Development Corporation. This program aims to address the high, unmet demand for for-sale housing units by Hawaii residents, particularly those who own no other real property, receive no gift funds, and work in specific professions. The corporation can purchase equity in for-sale housing development projects, allocating the equity to specific units and reducing the price for eligible buyers. Buyers must repay the corporation's equity if they sell the unit within thirty years.