Hawaii SB76 amends the rent-to-own program for housing units, allowing participants to purchase units at a fixed price after a ten-year rental period.
Hawaii SB76 modifies the rent-to-own program by allowing the Hawaii Housing Finance and Development Corporation to rent dwelling units for sale to program participants. Participants can credit a portion of their rent toward purchasing the unit. The sales price is fixed for the first ten years, during which participants can choose to buy the unit. If they do not purchase within this period, they forfeit their right to continue renting.
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