SB 804 Hawaii Senate · 2025 Regular Session

RELATING TO INSURANCE FOR HAWAII CONDOMINIUM PROPERTIES.

Summary

Requires property insurers to offer discounts on a condominium association's annual insurance premium if the association adopts specific risk mitigation upgrades or develops comprehensive disaster response plans. Requires property insurers of condominiums to base premium increases on actuarial justifications that reflect actual risk reduction resulting from upgraded fire safety improvements installed in conjunction with a building fire and life safety evaluation. Requires property insurers of condominiums to justify premium increases above ten per cent. Requires property insurers of condominiums to publicly report premium increases each year. Effective 7/1/2050. (SD2)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

Senate Passage

Mar 2025

House Passage

Governor

Introduced Jan 17, 2025 Last action Mar 6, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

SB804_SD1 → SB804_SD2 · 6 edits

MODERATE

This bill version (SD2) replaces SD1 by shifting from a focus on insurance discounts and relief fund loans to a stronger emphasis on regulating insurance premium increases for condominiums that have completed or are actively pursuing fire safety upgrades. The new version adds specific requirements for insurers to justify premium increases above 10% with actuarial data and mandates public reporting of these increases. It also introduces penalties for non-compliance and extends the effective date to July 1, 2050.

Scope change

The bill now specifically targets condominium projects on Oahu that have received or are actively pursuing acceptable scores on building fire and life safety evaluations, rather than applying broadly to all condominium associations statewide.

REQUIREMENT

Requires property insurers to provide detailed actuarial justifications and written explanations for any premium increases, particularly those exceeding 10% from the previous year.

Mandates annual public reporting by insurers of all premium increases with supporting data and modeling techniques on the insurance division's website.

ENFORCEMENT

Establishes penalties including fines up to $10,000 per violation and license suspension for insurers that fail to comply with premium increase regulations.

TIMELINE

Changed the effective date from an unspecified date in SD1 to July 1, 2050 in SD2.

ELIGIBILITY

Defines specific eligibility criteria for premium increase protections based on Oahu condominium projects that have completed or are actively pursuing fire safety evaluations and upgrades.

FISCAL

Removed provisions authorizing loans to the Hawaii hurricane relief fund and Hawaii property insurance association for issuing insurance policies.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 6, 2025

Committee

Referred to CPC, JHA, FIN, referral sheet 19

lower

Mar 4, 2025

Introduced

Received from Senate (Sen. Com. No. 200) in amended form (SD 2).

lower

Mar 4, 2025

Upper · Passed

Report adopted; Passed Third Reading, as amended (SD 2). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.

upper

Feb 19, 2025

Upper · Passed

The committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 4 Aye(s): Senator(s) Rhoads, Chang, San Buenaventura, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Gabbard.

upper

Feb 19, 2025

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 14, 2025

Upper · Passed

The committee(s) on WAM/JDC will hold a public decision making on 02-19-25 10:16AM; Conference Room 211 & Videoconference.

upper

Feb 14, 2025

Committee

Reported from CPN (Stand. Com. Rep. No. 492) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM/JDC.

upper

Feb 7, 2025

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, McKelvey, Richards, Awa; Aye(s) with reservations: Senator(s) Fukunaga ; 0 No(es): none; and 0 Excused: none.

upper

Jan 31, 2025

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 02-05-25 10:00AM; Conference Room 229 & Videoconference.

upper

Jan 23, 2025

Committee

Referred to CPN, WAM/JDC.

upper

Jan 17, 2025

Introduced

Introduced.

upper

4 primary · 5 co-sponsors