Hawaii SB1056 aims to stabilize housing costs for renters by limiting annual rent increases.

Hawaii SB1056 seeks to improve housing stability for renters by capping annual rent increases. The bill prohibits landlords from raising the gross rental rate by more than seven percent plus the percentage change in the cost of living, or ten percent, whichever is less. If the annual allowable increase does not cover a landlord's yearly increase in operating and maintenance expenses, the base rent can be increased by an additional seven percent. The bill also limits the number of rent increases to two per twelve-month period for tenants who remain in occupancy.

Hawaii SB1056 aims to stabilize housing costs for renters by limiting annual rent increases.

Hawaii SB1056 seeks to improve housing stability for renters by capping annual rent increases. The bill prohibits landlords from raising the gross rental rate by more than seven percent plus the percentage change in the cost of living, or ten percent, whichever is less. If the annual allowable increase does not cover a landlord's yearly increase in operating and maintenance expenses, the base rent can be increased by an additional seven percent. The bill also limits the number of rent increases to two per twelve-month period for tenants who remain in occupancy.