Establishes a rent-to-own program for dwelling units in Hawaii, allowing renters to purchase the units at a fixed price.

This bill amends Hawaii Revised Statutes to establish a rent-to-own program for dwelling units. The program allows renters to purchase units at a fixed price set at the beginning of the rental term. Participants have ten years to decide if they want to buy the unit. If they do not purchase within this period, they must vacate the unit, which then becomes available to another buyer or renter. The bill also repeals certain existing statutory material and takes effect upon approval.

Establishes a rent-to-own program for dwelling units in Hawaii, allowing renters to purchase the units at a fixed price.

This bill amends Hawaii Revised Statutes to establish a rent-to-own program for dwelling units. The program allows renters to purchase units at a fixed price set at the beginning of the rental term. Participants have ten years to decide if they want to buy the unit. If they do not purchase within this period, they must vacate the unit, which then becomes available to another buyer or renter. The bill also repeals certain existing statutory material and takes effect upon approval.