RELATING TO HOUSING.

SB 843 establishes the Kupuna Home Equity Conversion Mortgage Program through Hawaii's Housing Finance and Development Corporation. This program allows Hawaii residents aged 62 and older who own their homes to convert home equity into income without selling their property. It creates a state-administered mortgage option specifically for seniors, providing a new pathway to access home equity as a financial resource. The bill directly affects elderly homeowners seeking to remain in their homes while managing living expenses. The program is designed to operate under the Corporation's existing framework, with no current voting record as the bill is in early legislative stages.