HAR §15-308-44. Sale of residential units

(a) The developer shall first offer affordable units to "first-time homebuyers"" on the eligible purchaser 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 and approved by the corporation; and then to the remaining ""qualified residents" on the eligible purchaser list by the same means. (b) 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, for its review and approval, copies of the sales contracts and deeds which reference the qualified resident preference; (2) Prior to the sale of any of the units, the developer shall submit to the corporation a 308-26 ) [ t: 0 2022 H-1, 201H-45) (d) The developer shall submit the application intake list and the applicants' acknowledgement 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 purchaser list, which shall list the applicants approved as "first-time homebuyers" or "qualified residents." The developer shall offer affordable units to the individuals on the eligible purchaser list as described in section 15-308-44. (e) Thirty days before the close of project sales, the developer shall submit to the corporation a summary of which individuals on the eligible purchaser list purchased an affordable unit, which did not purchase an affordable unit, and the applicant's reason for not purchasing a unit. From time to time, the corporation may request an updated summary from the devi9per. [Eff 1/15/22; am and comp JEC 1 ) 2022 1 (Auth: HRS $201H-4) (Imp: HRS SS201H-1, 201H-45)