This bill formally notifies the Hawaii Legislature that Governor Josh Green signed HB2309 into law on June 26, 2026, amending the Hawaiian Homes Commission Act of 1920. The amendment updates lease conditions to clarify that original lessees must be native Hawaiians at least 18 years old and specifies rules for transferring leases to qualified relatives, such as spouses, children, or siblings who are at least one-quarter Hawaiian. It also codifies restrictions on subletting and outlines the specific circumstances under which lessees may mortgage their land interests with federal approval. Ultimately, the bill serves as a procedural record confirming the enactment of these existing lease provisions rather than introducing new policy changes.
Amends the Downpayment Loan Assistance Program by: removing the prohibition on combined loan-to-value ratios; clarifying the Hawaii Housing Finance and Development Corporation's authority to establish interest rates and allow payment waivers and interest forgiveness; authorizing financial institutions, mortgage lenders, and other loan originators to originate downpayment loans; and reducing the borrower's required personal contribution toward the downpayment. Authorizes borrowers to use a portion of a downpayment loan to pay for closing costs, prepaids, and reserves for the purchase of the residential property for which the downpayment loan is provided. (CD1)
Clarifies the limitation of actions to recover debts related to notes and mortgage notes shall be six years. Prohibits creditors from pursuing deficiency judgments against residential property owners upon completion of a judicial or nonjudicial foreclosure.
Authorizes the Rental Housing Revolving Fund (RURF) to be used to provide any and all forms of financing for the development, pre-development, construction, acquisition, preservation, and substantial rehabilitation of rental housing units. Requires the Hawaii Housing Finance and Development Corporation (HHFDC) to give preference to certain projects with perpetual affordability commitments and to applicants with a demonstrated history of early repayment to the RHRF. Authorizes HHFDC, with the approval of the Director of Finance, to transfer moneys between the RHRF and its subaccounts without further legislative authorization. Requires certain RHRF loans applied for or awarded after 12/31/2026 to be subject to review and renegotiation when any mortgage debt to which the loan is subordinate is refinanced or retired. Authorizes HHFDC to use reserved but unencumbered funds for short‑term projects with certain conditions. Authorizes HHFDC to secure lines of credit, standby bond purchase agreements, or other credit enhancement facilities to provide liquidity for the RHRF in certain circumstances. Authorizes the Director of Finance to transfer moneys from the RHRF to its Mixed-Income Subaccount for FY 2026‑2027. Appropriates funds. Effective 7/1/2050. (SD1)
Establishes the Emergency Home Loan Assistance Revolving Fund to be administered by the Hawaii Housing Finance and Development Corporation. Establishes terms for loans issued from the Revolving Fund. Requires annual reports to the Legislature. Appropriates funds.
Repeals the sunset date of Act 45, Session Laws of Hawaii 2024, thereby making permanent the authority of the counties to share in facilitating the development, construction, financing, refinancing, or other provision of mixed-use developments, including low- and moderate-income housing projects, and issue county bonds for this purpose.
HB 1306 establishes the Kupuna Home Equity Conversion Mortgage Program through the Hawaii Housing Finance and Development Corporation. It allows older Hawaii residents (kūpuna) who own homes to convert their home equity into mortgage payments, providing financial stability as they age. The program is administered by the Hawaii Housing Finance Corporation, which will manage eligibility, funding, and participant support. This directly affects homeowners aged 62+ who wish to leverage their home equity without selling their property.
HB 1733 increases the maximum bond amount authorized under the state's Hula Mae Multifamily Housing Program, allowing more funds to finance affordable rental housing statewide. This directly affects developers building or maintaining low-income housing projects and residents relying on these affordable units. The bill raises the funding ceiling to prevent the program from hitting current limits, ensuring continued support for housing affordability. It does not change eligibility rules but expands available capital for housing projects across the state.
SB 843 establishes the Kupuna Home Equity Conversion Mortgage Program through Hawaii's Housing Finance and Development Corporation. The program allows Hawaii seniors (referred to as "kupuna," meaning elders) who own homes to convert their home equity into income without selling their property. Key provisions include creating a state-administered mortgage option specifically for older homeowners seeking financial support. This bill directly affects eligible Hawaii seniors with home equity, providing a new tool to access funds while remaining in their homes.
Limits mixed-use developments to transit-oriented developments. Repeals the sunset date of Act 45, SLH 2024, thereby making permanent the authority of the counties to share in facilitating the development, construction, financing, refinancing, or other provision of mixed-use developments, including low- and moderate-income housing projects, and issue county bonds before 7/1/2033 for this purpose. (CD1)
