Establishes a five-year dwelling unit revolving fund equity pilot program to address high demand for for-sale housing units in Hawaii.
The bill establishes a five-year dwelling unit revolving fund equity pilot program to address the high, unmet demand for for-sale housing units by Hawaii residents. The program is funded by the dwelling unit revolving fund and targets residents who own no other real property, receive no gift funds, and work in professions facing labor shortages. The Hawaii housing finance and development corporation may purchase equity in for-sale housing development projects, reducing the price paid by eligible buyers.
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