SB491

Establishes an accessory dwelling unit financing and deed restriction program in Hawaii.

The bill establishes an accessory dwelling unit financing and deed restriction program under the Hawaii Housing Finance and Development Corporation. It allows the corporation to allocate funds to counties for grants to eligible homeowners or homebuyers to finance construction costs, development costs, and nonrecurring closing costs associated with the construction of an accessory dwelling unit. The corporation can also purchase deed restrictions from eligible homeowners or homebuyers.