SB 612 Hawaii Senate · 2026 Regular Session

RELATING TO RENT TO BUILD EQUITY.

Summary

Requires the Hawaii Housing Finance and Development Corporation to conduct a study on rent-to-build equity for existing and future state-financed housing. Requires a report to the Legislature. Effective 7/1/2050. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Jan 17, 2025 Last action Dec 8, 2025

Maddy AI version diff · 1 comparison

What changed between versions

SB612 → SB612_SD1 · 4 edits

MODERATE

The bill was fundamentally rewritten to shift from requiring developers to share profits with tenants to directing the state's housing finance corporation to study the feasibility of such programs. This change removes all mandatory profit-sharing obligations and replaces them with a directive to conduct research and submit a report by 2026.

Scope change

The bill's scope changed from a mandatory requirement applying to specific exempt developers to a discretionary study ordered by the state housing finance corporation.

REQUIREMENT

Eliminated the requirement for developers to enter into profit-sharing agreements with tenants.

Added a mandate for the Hawaii Housing Finance and Development Corporation to conduct a study on rent-to-build equity.

TIMELINE

Changed the effective date from July 1, 2025, to July 1, 2050, and added a deadline for the study report in 2026.

ELIGIBILITY

Removed specific eligibility criteria for developers based on tax exemptions.

Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 13, 2025

Upper · Passed

Report adopted; Passed Second Reading, as amended (SD 1) and referred to CPN/WAM.

upper

Feb 13, 2025

Committee

Reported from HOU (Stand. Com. Rep. No. 474) with recommendation of passage on Second Reading, as amended (SD 1) and referral to CPN/WAM.

upper

Feb 4, 2025

Upper · Passed

The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 4 Aye(s): Senator(s) Chang, Hashimoto, Kanuha, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Aquino.

upper

Jan 31, 2025

Upper · Passed

The committee(s) on HOU has scheduled a public hearing on 02-04-25 1:00PM; Conference Room 225 & Videoconference.

upper

Jan 23, 2025

Committee

Referred to HOU, CPN/WAM.

upper

Jan 17, 2025

Introduced

Introduced.

upper

1 primary · 0 co-sponsors