(a) Prior to the issuance of an effective date for a developer‘s public report, the commission shall have received the following:

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Terms Used In Hawaii Revised Statutes 514B-54

  • Commission: means the real estate commission of the State. See Hawaii Revised Statutes 514B-3
  • Condominium: means real estate, portions of which are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of those portions. See Hawaii Revised Statutes 514B-3
  • Condominium map: means , however denominated, a map or plan of the condominium property regime containing the information required by § 514B-33. See Hawaii Revised Statutes 514B-3
  • Contract: A legal written agreement that becomes binding when signed.
  • county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
  • Declaration: means any instrument, however denominated, that creates a condominium, including any amendments to the instrument. See Hawaii Revised Statutes 514B-3
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Developer: means a person who undertakes to develop a real estate condominium project, including a person who succeeds to the interest of the developer by acquiring a controlling interest in the developer or in the project. See Hawaii Revised Statutes 514B-3
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Project: means a real estate condominium project; a plan or project whereby a condominium of two or more units located within the condominium property regime are created. See Hawaii Revised Statutes 514B-3
  • Property: includes parcels with or without upper or lower boundaries, and spaces that may be filled with air or water. See Hawaii Revised Statutes 514B-3
(1) Nonrefundable fees as provided in rules adopted by the director of commerce and consumer affairs pursuant to chapter 91;
(2) The developer’s public report prepared by the developer disclosing the information specified in section 514B-83 and, if applicable, section 514B-84;
(3) A copy of the deed, master lease, agreement of sale, or sales contract evidencing either that the developer holds the fee or leasehold interest in the property or has a right to acquire the same;
(4) Copies of the executed declaration, bylaws, and condominium map that meet the requirements of sections 514B-32, 514B-33, and 514B-108;
(5) A specimen copy of the proposed contract of sale for units;
(6) An executed copy of an escrow agreement with a third party depository for retention and disposition of purchasers’ funds that meets the requirements of § 514B-91;
(7) As applicable, the documents and information required in § 514B-92 or project costs” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”HI”>514B-93;
(8) A declaration by the developer, subject to the penalties set forth in section 514B-69(b), that the project is in compliance with all county zoning and building ordinances and codes, and all other county permitting requirements applicable to the project, pursuant to chapter 205, including section 205-4.6, where applicable, and sections 514B-5 and 514B-32(a)(13);
(9) In the case of a project in the agricultural district classified pursuant to chapter 205, a verified statement signed by an appropriate county official that the project as described and set forth in the project’s declaration, condominium map, bylaws, and house rules does not include any restrictions limiting or prohibiting agricultural uses or activities, in compliance with section 205-4.6; and
(10) Other documents and information that the commission may require.
(b) The developer’s public report shall not be used for the purpose of selling any units in the project until the commission issues an effective date for the developer’s public report. The commission’s issuance of an effective date for a developer’s public report shall not be construed to constitute the commission’s approval or disapproval of the project; the commission’s representation that either all material facts or all pertinent changes, or both, concerning the project have been fully or adequately disclosed; or the commission’s judgment of the value or merits of the project.

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