Informing the Legislature that on July 2, 2024, the Governor signed the following bill into law: SB2861 SD1 HD1 CD1 (ACT 176).

This bill, known as the Exclusive Listing Agreements Act, aims to protect residential property owners in Hawaii from long-term exclusive listing agreements that can restrict their ability to sell or refinance homes. It declares any such agreement void and unenforceable if it lasts longer than twelve months, attempts to bind future property owners, or allows a broker to assign their services without the owner's consent. Additionally, the law prohibits real estate brokers from recording these agreements as liens on property titles and provides legal remedies for owners who have been harmed by unfair practices.