Hawaii SB1408 amends the Hawaiian Homes Commission Act to increase the loan limit for Hawaiian home loans.
Hawaii SB1408 modifies the Hawaiian Homes Commission Act by raising the loan limit for direct loans provided by the Department of Hawaiian Home Lands. The bill increases the loan limit to 75% of the maximum single residence loan amount allowed in Hawaii by the Federal Housing Administration, up from the current 50%. This change aims to better align the loan limits with those set by the Federal Housing Administration. The bill also specifies that these amendments will not be repealed when certain previous acts take effect, pending approval from the United States Congress.
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