New Hawaii Law for Condo Associations

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763

New Hawaii Condo Association LawAct 62, Session Laws of Hawaii (HB 2272)



ACT 62 Specifies that

- A condo declaration may be amended by 67% of the owners, or a higher percentage if required in the declaration;

- Requires the developer's public report to include the annual reserve contributions based on a reserve study as part of the breakdown of annual maintenance fees

- Specifies that the association's cash flow plan be based on 30-year projections

- Requires the reserve study to be reviewed by an independent preparer and updated every 3 years

 

 

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Comments (2)

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.  Thanks for sharing and enjoy your holiday weekend!

Jul 02, 2022 06:24 AM
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Mahalo Kristin Johnston - REALTOR® enjoy your weekend!

Jul 02, 2022 10:40 AM