Requires developers of exempt housing projects to share a portion of sale profits with tenants.
The bill addresses Hawaii's housing crisis by requiring developers of exempt housing projects to enter into profit-sharing agreements with tenants. If the developer sells the project, the tenant receives a prorated share of 20% of the sale price, based on the number of years they lived in the project. This aims to facilitate reinvestment in Hawaii's economy and enable local families to build equity in homes of their own. The requirement applies to housing projects approved after July 1, 2025.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.