Establishes a framework for permanently affordable for-sale housing in Hawaii.

This bill aims to preserve the long-term affordability of government-assisted for-sale housing units in Hawaii. It establishes a framework for designating and regulating permanently affordable for-sale housing, including price indexing to allow homeowners to build equity while preserving affordability. The bill sets eligibility criteria for buyers, restricts the resale of designated units, and outlines procedures for the corporation to purchase the property. It also amends existing statutes to implement these changes, effective July 1, 2050.

Establishes a framework for permanently affordable for-sale housing in Hawaii.

This bill aims to preserve the long-term affordability of government-assisted for-sale housing units in Hawaii. It establishes a framework for designating and regulating permanently affordable for-sale housing, including price indexing to allow homeowners to build equity while preserving affordability. The bill sets eligibility criteria for buyers, restricts the resale of designated units, and outlines procedures for the corporation to purchase the property. It also amends existing statutes to implement these changes, effective July 1, 2050.