Establishes a workforce housing regulatory sandbox program to accelerate housing development.

The bill establishes a workforce housing regulatory sandbox program to be administered by the Hawaii housing finance and development corporation. The program allows for temporary regulatory flexibility for eligible workforce housing projects, subject to defined conditions and expiration. The program includes an advisory council to provide nonbinding guidance and recommendations. Developers must ensure that housing remains affordable and is not used as short-term rentals. The program is voluntary for counties and expires on June 30, 2031.

Establishes a workforce housing regulatory sandbox program to accelerate housing development.

The bill establishes a workforce housing regulatory sandbox program to be administered by the Hawaii housing finance and development corporation. The program allows for temporary regulatory flexibility for eligible workforce housing projects, subject to defined conditions and expiration. The program includes an advisory council to provide nonbinding guidance and recommendations. Developers must ensure that housing remains affordable and is not used as short-term rentals. The program is voluntary for counties and expires on June 30, 2031.