HB 1053 Hawaii House · 2026 Regular Session

RELATING TO CONDOMINIUM ASSOCIATION'S OPERATING BUDGET.

Summary

Permits condominium associations to borrow from or reallocate their reserve funds; provided that the loan is repaid within one year. Effective 7/1/3000. (HD1)

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 21, 2025 Last action Dec 8, 2025

Maddy AI version diff · 1 comparison

What changed between versions

HB1053 → HB1053_HD1 · 5 edits

MODERATE

This bill revision clarifies the language regarding how condominium associations can borrow from or reallocate replacement reserve funds to cover operating expenses. It reorganizes the consent requirements for unit owners, adds a new rule requiring full restoration of funds before any new borrowing occurs if reserves are low, and updates the effective date to July 1, 3000.

Scope change

The scope of applicability remains focused on condominium associations in Hawaii, but the procedural requirements for accessing reserve funds have been tightened and clarified.

REQUIREMENT

Reorganized the consent process for borrowing funds, moving the notice requirement to a new subsection and adding a specific rule that funds must be fully restored before any additional borrowing is authorized if reserves are below 100%.

Clarified that the written notice to unit owners must include a schedule for when funds will be restored, rather than just how and when.

ENFORCEMENT

Changed the consequence of violating the rule against borrowing for board benefits from a 'violation of fiduciary duty' to a 'violation of the member's fiscal duty'.

TIMELINE

Updated the effective date of the Act from 'upon approval' to a specific future date of July 1, 3000.

TECHNICAL

Adjusted metadata fields including the bill version number, file names, and document identifiers to reflect the House of Delegates first reading (HD1).

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 11, 2025

Committee

Reported from CPC (Stand. Com. Rep. No. 419) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Feb 4, 2025

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Marten, Pierick; Ayes with reservations: Representative(s) Iwamoto, Tam; Noes: none; and 2 Excused: Representative(s) Kong, Lowen.

lower

Jan 23, 2025

Committee

Referred to CPC, FIN, referral sheet 3

lower

Jan 23, 2025

Introduced

Introduced and Pass First Reading.

lower

Jan 21, 2025

Introduced

Pending introduction.

lower

1 primary · 0 co-sponsors