HAR §15-308-154. Sale of residential units

(a) The developer shall offer all of the market-priced units to those individuals whose names are on the eligible "qualified resident" list by one of the following means: (1) In the order in which their names appear on the list; (2) By the drawing of lots; or (3) By any other reasonable and fair method as determined by the developer. (b) Once the eligible "qualified resident" list is exhausted, the developer has the discretion to sell the remaining units to any purchaser. (c) The developer shall also be required to comply with the following: (1) Prior to the sale of any of the units, the developer shall submit to the corporation, fdr its review and approval, copies of the sales contracts and deeds which reference the qualified resident preference; ( 2) Prio'r to the sale of any of the uni ts, the developer shall submit to the corporation a copy of the covenants, conditions, and restrictions, if any, for review and approval; (3) The developer shall submit to the corporation a list of all of the purchasers by lot number, name, date of sales contract, 308-53 1, C
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 proj ect 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 / 1 5 / 2 2 ; am and comp DE[ 1 ) 2022 1 (Auth : HRS $201H-4 ) ( Imp : HRS SS2 0 1H-1 , 201H-45 )