SB115

Increases the exemption amount for real property from attachment or execution in Hawaii.

The bill amends Hawaii Revised Statutes to increase the exemption amount for real property from attachment or execution. The exemption amount will rise to $90,000 for heads of families or individuals aged 65 and older, and to $60,000 for other individuals. This change aims to align the exemption with current valuation standards, considering inflation has increased by 300% since the last adjustment in 1978. The exemption applies to one parcel of real property per person, with the value determined by appraisal and excluding any liens or encumbrances. The bill takes effect on January 1, 2026.