RELATING TO HOUSING.

Created a new Accessory Dwelling Unit Financing and Deed Restriction Program under the Hawaii Housing Finance and Development Corporation to fund ADU construction and deed restrictions.

Defined eligibility for homeowners who must be U.S. citizens or resident aliens, at least 18 years old, and agree to place deed restrictions on their property.

Defined 'Qualified Business' requirements including physical presence in Hawaii, valid business license, state income tax payment, and community recognition.

Established deed restriction requirements that properties must be occupied by owner-occupants or tenants working at least 30 hours per week at a qualified business within the State.

Gave counties authority to bring civil actions against non-compliant property owners and collect 50% of appreciation if properties are sold to nonresidents.

Exempted properties with deed restrictions from conveyance tax (Chapter 247) and environmental impact statement requirements (Chapter 343).

Set the effective date of the Act to July 1, 2050, with tax exemptions applying to taxable years beginning January 1, 2026.

Authorized counties to receive funds from the rental housing revolving fund to purchase equity from homeowners and finance ADU construction costs.