Establishes a rent-to-own program for housing units in Hawaii, allowing renters to purchase the unit at a fixed price.

This bill amends Hawaii Revised Statutes to establish a rent-to-own program for housing units. Participants can rent units for sale in fee simple or under a long-term lease on state or county land. Renters can credit a portion of their rent toward the purchase of the unit. The sales price is fixed for the first ten years, after which the participant must purchase the unit or forfeit their right to continue renting. If the participant does not purchase within the ten-year period, the unit will be made available to another purchaser or renter.

Establishes a rent-to-own program for housing units in Hawaii, allowing renters to purchase the unit at a fixed price.

This bill amends Hawaii Revised Statutes to establish a rent-to-own program for housing units. Participants can rent units for sale in fee simple or under a long-term lease on state or county land. Renters can credit a portion of their rent toward the purchase of the unit. The sales price is fixed for the first ten years, after which the participant must purchase the unit or forfeit their right to continue renting. If the participant does not purchase within the ten-year period, the unit will be made available to another purchaser or renter.