HB 490 Hawaii House · 2026 Regular Session

RELATING TO INSURANCE.

Summary

Requires the Insurance Commissioner to study the feasibility of the mutual insurance model for condominium associations and submit a report to the Legislature. Effective 7/1/3000. (HD1)

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 17, 2025 Last action Dec 8, 2025

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What changed between versions

HB490 → HB490_HD1 · 4 edits

MODERATE

The bill was significantly narrowed from a broad mandate requiring the creation of new insurance standards and programs to a limited study on the feasibility of mutual insurance. The original text required the Insurance Commissioner to develop rules for self-insurance and mutual insurance, evaluate buyback programs, and define specific investment-based protection funds. The revised version removes all requirements to create new programs or standards, replacing them with a directive to simply study whether mutual insurance is viable, including out-of-state options. The effective date was also changed from immediate approval to a distant future date of July 1, 3000.

Scope change

The scope was reduced from a comprehensive regulatory framework to a narrow feasibility study.

REQUIREMENT

Removed the mandate to develop comprehensive standards and requirements for self-insurance and mutual insurance programs.

Removed the requirement to examine and evaluate guaranteed buyback programs and investment-based protection funds.

Changed the primary duty from creating new insurance models to studying the feasibility of the mutual insurance model.

TIMELINE

Changed the effective date from immediate approval to July 1, 3000.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 14, 2025

Committee

Reported from CPC (Stand. Com. Rep. No. 783) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Feb 12, 2025

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Chun, Ilagan, Ichiyama, Iwamoto, Kong, Marten, Pierick; Ayes with reservations: none; Noes: none; and 3 Excused: Representative(s) Matayoshi, Lowen, Tam.

lower

Jan 21, 2025

Committee

Referred to CPC, FIN, referral sheet 2

lower

Jan 21, 2025

Introduced

Introduced and Pass First Reading.

lower

Jan 17, 2025

Introduced

Pending introduction.

lower

2 primary · 1 co-sponsor