HAR §15-308-22. Eligibility

(a) Priority for affordable units marketed and sold under this chapter shall be for first-time homebuyers who require the assistance of programs under chapter 201H, HRS, to purchase their home. A first-time homebuyer who intends to purchase a unit developed or sold under this chapter with cash does not require the assistance of programs under chapter 201H, HRS, to become a homeowner. (b) An applicant shall be eligible to purchase a dwelling unit developed under this chapter if the applicant meets all of the following requirements: (1) Is a first-time homebuyer or qualified resident who is domiciled in the State and meets other qualifications set forth under section 201H-32, HRS; (2) Does not have a household income exceeding the corporation-established project income limits, or one hundred forty per cent of the 308-17 area median income as determined by HUD, as adjusted by family size, whichever is lower; (3) Has household assets for initial deposit and down payment. Gift funds to assist in the down payment for purchase of the dwelling unit shall not exceed thirty-five per cent of the purchase price and must be received from a relative as defined according to Fannie Mae or Freddie Mac guidelines, as may be amended, in United States currency; and (4) Has not previously received assistance under a homeownership program designed and implemented under this chapter by the corporation or any of the counties in the State. However, the corporation may on an individual basis, allow a person who previously purchased a dwelling sponsored or assisted by the corporation or any of the counties to reapply, provided that (A) The corporation, the county, or a qualified nonprofit housing trust repurchased the dwelling unit; or (B) The applicant is still living in the unit subject to section 201H-47, HRS; and there has been a significant increase in household size. An applicant may become eligible again if the sale of such person's first dwelling was caused by extreme hardship such as family death, divorce, loss of employment, or a disability, and the dwelling was repurchased by the corporation or the county. Provided further that in the case of divorce, where one spouse retains ownership of the dwelling unit, the other spouse may become eligible one ,year after the final divorce decree to reapply for a dwelling unit sponsored or assisted by the corporation or the county. An applicant may become eligible again if the applicant is still living in the previously restricted unit subject to section 201H-47, HRS, applies for a new affordable unit, and sells the currently owned dwelling unit to a qualified resident 308-18 area median income as determined by HUD, as adjusted by family size, whichever is lower; (3 ) Has household assets for initial deposit and down payment. Gift funds to assist in the down payment for purchase of the dwelling unit shall not exceed thirty-five per cent of the purchase price and must be received from a relative as defined according to Fannie Mae or Freddie Mac guidelines, as may be amended, in United States currency; and ( 4) Has not previously received assistance under a homeownership program designed and implemented under this chapter by the corporation or any of the counties in the State. However, the corporation may on an individual basis, allow a person who previously purchased a dwelling sponsored or assisted by the corporation or any of the counties to reapply, provided that (A) The corporation, the county, or a qualified nonprofit housing trust repurchased the dwelling unit; or (B) The applicant is still living in the unit subject to section 201H-47, HRS; and there has been a significant increase in household size. An applicant may become eligible again if the sale of such person's first dwelling was caused by extreme hardship such as family death, divorce, loss of employment, or a disability, and the dwelling was repurchased by the corporation or the county. Provided further that in the case of divorce, where one spouse retains ownership of the dwelling unit, the other spouse may become eligible one year after the final divorce decree to reapply for a dwelling unit sponsored or assisted by the corporation or the county. An applicant may become eligible again if the applicant is still living in the previously restricted unit subject to section 201H-47, HRS, applies for a new affordable unit, and sells the currently owned dwelling unit to a qualified resident 308-18 meeting corporation income requirements at a restricted price approved by the corporation. [Eff 1/15/22; am and comp 1 O ] (Auth: HRS §§201H-4, 201H-151, 201H-33) (Imp: HRS §§201H-1, 201H-151, 201H-162) §15-308-23 Eligibility for current owners in corporation sponsored projects. (a) A current owner of a multi-family dwelling unit sponsored by the corporation may apply for the purchase of a larger dwelling unit in a corporation sponsored project if: (1) The applicant's current household size has increased and exceeds the permissible household size for the current unit as determined by prevailing county building or housing codes; or in the absence thereof, the housing code of the city and county of Honolulu; and (2) The applicant has resided in the current dwelling unit for at least one year. (b) Household size shall be determined by the number of individuals on title and their dependents. (c) The applicant shall sell the applicant's current multi-family dwelling unit to the corporation prior to or upon the closing of the sale of the larger dwelling unit under the provisions of section 201H-47, HRS. (d) Except for the applicant's current residence, the applicant shall be a qualified resident as set forth under section 201H-32, HRS. [Eff 1/15/22; comp DEC 10 2022] (Auth: HRS §§201H- 4, 201H-151, 201H-33) (Imp: HRS §§201H-l, 201H-1Sl, 201H-162) §15-308-24 Eligibility for former owners in corporation sponsored projects. A former owner of a lower cost hou~ing unit may apply to purchase another lower cost housing unit under the following conditions: (1) If the former owner is released from title and wishes to apply again, the former owner shall show that no profit was made on the 308-19 meeting corporation income requirements at a restricted price approved by the corporation. [Eff 1/15/22; am and comp DEC 1 0 2022 1 (Auth: HRS SS201H-4, 201H-151, 201H-33) (Imp: HRS S§201H-1, 201H-151, 201H-162) §15-308-23 Eligibility for current owners in corporation sponsored projects. (a) A current owner of a multi-family dwelling unit sponsored by the corporation may apply for the purchase of a larger dwelling unit in a corporation sponsored project if: (1) The applicant's current household size has increased and exceeds the permissible household size for the current unit as determined by prevailing county building or housing codes; or in the absence thereof, the housing code of the city and county of Honolulu; and (2) The applicant has resided in the current dwelling unit for at least one year. (b) Household size shall be determined by the number of individuals on title and their dependents. (c) The applicant shall sell the applicant's current multi-family dwelling unit to the corporation prior to or upon the closing of the sale of the larger dwelling unit under the provisions of section 201H-47, HRS. (d) Except for the applicant's current residence, the applicant shall be a qualified resident as set forth under section 201H-32, HRS. [Eff 1/15/22; comp DEC 1 0 2022 1 (Auth: HRS S§§201H- 4, 201H-151, 201H-33) (Imp: HRS SS201H-1, 201H-151, 201H-162) §15-308-24 Eligibility for former owners in corporation sponsored projects. A former owner of a lower cost housing unit may apply to purchase another lower cost housing unit under the following conditions: (1) If the former owner is released from title and wishes to apply again, the former owner shall show that no profit was made on the 308-19 sale of the first affordable unit, and that the unit was sold to a qualified resident meeting corporation income and asset requirements, and at a restricted price approved by the corporation. (2) In the event the corporation does not repurchase the unit offered, the owner shall sell the unit at a restricted price. The unit shall remain affordable and sold to a qualified resident whose income does not exceed one hundred forty per cent of the area median income. [Eff 1/15/22; am and comp C 1 (Auth: HRS §§201H-4, 201H-4 7) (Imp: HRS §201H-1)