REQUESTING THE CHAIRPERSON OF THE BOARD OF DIRECTORS OF THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION TO ESTABLISH A TASK FORCE TO STUDY THE FEASIBILITY OF AN EQUITY CONVERSION MORTGAGE PROGRAM FOR KUPUNA HOMEOWNERS.

HCR 88 is a concurrent resolution requesting Hawaii’s Housing Finance and Development Corporation to create a task force to study whether a state-run equity conversion mortgage program for kupuna (elderly homeowners) is feasible. The task force would examine how such a program - similar to federal reverse mortgages - could help kupuna access home equity to cover living costs without selling their homes or taking on new monthly debt. It would specifically review details like eligibility, consumer protections, and housing transition plans, referencing related legislation (HB 1306). The resolution does not create the program but asks for a feasibility report to be submitted to the 2026 Legislature. This affects kupuna homeowners facing fixed incomes and rising home ownership costs.