HAR §15-308-129. Failure to reoccupy

Failure to reoccupy the dwelling unit by the owner at the end of the temporary waiver period shall be sufficient reason for the corporation, at its option : ( 1 ) To purchase the unit as provided in section 2 01H-4 7 , HRS , as applicable . In this situation , the owner shall not receive more than the maximum to which the owner would be entitled under section 201H-4 7 , HRS ; or ( 2 ) Demand the full payment for the shared appreciation equity restriction . The corporation has the right to verify the owner ' s failure to occupy . [Eff 1 /15/22 ; am and comp DEC 1 0 2022 (Auth : HRS SS201H-4 , 201H- 4 9 ) ( Imp : HRS §2 01H- 4 9 ) §15-308-130 Extension of the temporary waiver period . An owner may apply for an extension of the temporary waiver period ; provided that the total waiver period shall not exceed ten years ; provided further , that application is made at least ninety working days prior to the termination of the initial temporaIY _Waiver _period . [Eff 1 / 15/22 ; comp [JEU 1 0 2022 1 (Auth : HRS SS201H-4 , 201H- 4 9 ) ( Imp : HRS §201H- 4 9 ) SUBCHAPTER 8 PROCEDURES TO IMPLEMENT QUALIFIED RESIDENT PREFERENCES IN THE INITIAL SALE OF MARKET-PRICED DWELLING UNITS