Establishes a voluntary coastal resilience acquisition and leaseback program to address coastal erosion and flooding.

The bill establishes the Hawaii coastal resilience acquisition and leaseback program to address chronic coastal erosion, flooding, and structural instability. The program allows for the voluntary acquisition of vulnerable coastal properties by the state or a qualified third party, with owners leasing back the property under short-term, renewable leases. The acquisition price is based on the hazard-adjusted residual value, and properties are subject to deed restrictions or conservation easements prohibiting redevelopment.

Establishes a voluntary coastal resilience acquisition and leaseback program to address coastal erosion and flooding.

The bill establishes the Hawaii coastal resilience acquisition and leaseback program to address chronic coastal erosion, flooding, and structural instability. The program allows for the voluntary acquisition of vulnerable coastal properties by the state or a qualified third party, with owners leasing back the property under short-term, renewable leases. The acquisition price is based on the hazard-adjusted residual value, and properties are subject to deed restrictions or conservation easements prohibiting redevelopment.