Establishes a dwelling unit revolving fund equity pilot program to address high demand for for-sale housing in Hawaii.
The bill creates a five-year dwelling unit revolving fund equity pilot program to address high demand for for-sale housing in Hawaii. The program, funded by the dwelling unit revolving fund, targets residents who own no other real property, receive no gift funds, and work in a profession facing a shortage. Eligible professions include healthcare workers, educators, law enforcement officers, and agricultural field workers. The Hawaii Housing Finance and Development Corporation may purchase equity in for-sale housing projects, reducing the price for eligible buyers.
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