HB 426 Hawaii House · 2026 Regular Session

RELATING TO THE STABILIZATION OF PROPERTY INSURANCE.

Summary

Expands the powers of the Hawaii Property Insurance Association and reactivates the Hawaii Hurricane Relief Fund to help to stabilize the property insurance market in the State. Requires the Insurance Commissioner to conduct a study. Appropriates funds. Effective 7/1/3000. (HD1)

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 17, 2025 Last action Dec 8, 2025

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What changed between versions

HB426 → HB426_HD1 · 6 edits

MODERATE

This bill revision updates the Hawaii Property Insurance Association and Hurricane Relief Fund to address market failures affecting both condominiums and single-family homes. It clarifies definitions, adjusts eligibility criteria for certain properties, and modifies financial thresholds and reporting requirements to better stabilize the insurance market against rising risks.

Scope change

The bill's scope expanded to explicitly include single-family homes and townhouses alongside condominiums as properties eligible for additional insurance coverage if market failures occur.

SCOPE

Expanded eligibility for additional insurance coverage to include single-family homes and townhouses, not just condominiums, in response to potential market failures.

DEFINITION

Updated the definition of condominium units to reference a specific section of the law and clarified that properties must be used 'primarily' for residential purposes.

REQUIREMENT

Changed the requirement for insurers to notify the association about assessments from 'not later than thirty days before it is due' to 'no later than thirty days before it is due'.

Modified the assessment process for insurers acting as servicing facilities during a disaster, changing the language from 'shall assess' to 'may assess'.

FISCAL

Adjusted the trigger threshold for replenishing the Hurricane Relief Fund from $400,000,000 to $500,000,000 and updated related reporting language.

TECHNICAL

Corrected formatting and citation errors, such as changing 'chapter 514B' to 'section 514B-3' and fixing punctuation in various clauses.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 7, 2025

Committee

Reported from CPC (Stand. Com. Rep. No. 252) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Jan 30, 2025

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 10 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Kong, Lowen, Marten, Tam, Pierick; Ayes with reservations: none; Noes: none; and Excused: none.

lower

Jan 21, 2025

Committee

Referred to CPC, FIN, referral sheet 2

lower

Jan 21, 2025

Introduced

Introduced and Pass First Reading.

lower

Jan 17, 2025

Introduced

Pending introduction.

lower

2 primary · 0 co-sponsors