Establishes a five-year dwelling unit revolving fund equity pilot program to address the high demand for for-sale housing units in Hawaii.

This bill amends Hawaii law to establish a five-year dwelling unit revolving fund equity pilot program. The 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 professions facing shortages. The Hawaii Housing Finance and Development Corporation may purchase equity in for-sale housing development projects, reducing the price for eligible buyers.

Establishes a five-year dwelling unit revolving fund equity pilot program to address the high demand for for-sale housing units in Hawaii.

This bill amends Hawaii law to establish a five-year dwelling unit revolving fund equity pilot program. The 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 professions facing shortages. The Hawaii Housing Finance and Development Corporation may purchase equity in for-sale housing development projects, reducing the price for eligible buyers.