HAR §15-223-18. Eligibility

(a) An eligible buyer may own other real property for up to six months after closing on the purchase of a condominium unit. (b) Within six months from the closing on the purchase of a condominium unit, the eligible buyer shall have completed the sale of any other residential or non-residential real property owned by the eligible buyer. The eligible buyer shall provide proof, that is acceptable to the executive director, of the sale of the real property to the executive director within thirty days of the sale of the property. (c) The eligible buyer shall: (1) Be a qualified resident of the State, as defined in section 201H-32, HRS; (2) Not own any other real property, including any residential or non-residential property, except as provided in section 15-223-lB(a); (3) Not have any beneficial ownership of any trusts, corporations, limited liability 223-6 §15-223-6 developer, including a commercial project, redevelopment project, residential project, or mixed­ use project, that includes ninety-nine year leasehold residential condominium units. "Public transit station" means a planned or existing station connected to a locally preferred alternative for a mass transit project. "Urban redevelopment site" means non-ceded state­ owned lands within a one-mile radius of a public transit station in a county having a population greater than five hundred thousand. [Eff AUG 2 4 2025 ] (Auth: HRS §§206E-292, 206E-281, 206E-283, 206E- 284) (Imp: HRS §§206E-283, 206E-284) SS15-223-7 to 15-223-17 (Reserved). SUBCHAPTER 2 ELIGIBILITY TO PURCHASE NINETY-NINE YEAR LEASEHOLD CONDOMINIUM UNIT