HAR §15-308-153. Reservation list, requirements

( a ) During the initial offering period of thirty calendar days , the developer ' s designated broker shall compile a "qualified resident " reservation list consisting of the names , addresses , and phone numbers of all individuals stating a desire to purchase a market-priced unit contained in the announced proj ect . (b) The list shall be compiled in the order in which applicants have submitted to the agent a duly executed affidavit that the applicant meets the definition of "qualified resident" , agrees to be an owner-occupant for a minimum of 365 days and will obtain an owner occupant type of loan and intends to become a purchaser of a market-priced unit . ( c) Any individual who makes any false statement in the affidavit is subj ect to criminal charges and civil action under the laws of this State . Any individual found to have willfully submitted false information, made misstatements , or withheld important information shall be deemed to be ineligible for the proj ect and disqualified from future corporation­ assisted proj ects , provided that the corporation shall not waive its right to pursue any other recourse provided by law . (d) The developer shall submit the reservation list together with the executed affidavits to the corporation within ten days of the expiration of the initial thirty day offering period . The corporation will provide the developer with an eligible qualified resident list, which shall list the applicants approved as "qualified res idents . " The developer shall 3 0 8 -52 offer affordable units to the individuals on the eligible qualified resident list as described in section 15-308-154. (e) Sixty days before the close of project sales, the developer shall submit to the corporation a summary of which individuals on the eligible qualified residents list purchased a market rate unit, which did not purchase a market rate unit, and the applicants' reason for not purchasing a unit. From time to time, the corporation may request an updated summary from the developer. [Eff 1/15/22; am and comp DEC C ] (Auth: HRS §201H-4) (Imp: HRS §§201H-1, 201H-45)