Although the Hawaii State Legislature passed the “Uniform Real Property Transfer on Death Act” in 2011, it is still not widely known or used, though it is an easy and less expensive way to pass property on to your heirs without having to go through an expensive and time-consuming probate process. Currently, 24 other states, plus the District of Columbia, also allow this type of deed. Under this law, you can have a lawyer re-title your real property with the… Read More
“Owner financing is a useful tool in the credit market, as it expands the pool of potential buyers for owners and gives buyers an opportunity to make a purchase that would otherwise be out of reach, especially if they could not qualify for a traditional mortgage loan.” – Hawaii Association of REALTORS® Although seller financing (owner financing) has traditionally been a means by which real property transactions in Hawaii have been conducted, Clark Realty Corporation is currently advising our sellers to seek… Read More
Requires any operator of a transient accommodation to designate a local contact residing on the same island as the transient accommodation. Requires that all advertisements and solicitations on websites for transient accommodations display registration identification numbers. Effective July 1, 2012. Repealed on December 31, 2015. (HB2078 CD1)
Effective July 1, 2011, Act 115 further amends Hawaii’s owner-builder law, clarifying whether or not an owner, in the event of hardship, can sell a property with an open owner-builder permit.
As of July 1, 2010, there is now a process by which homeowners who have built a home or improved a property with an owner-builder permit can list the home for sale or lease within the first year after completion. To qualify for the hardship exemption, the owner-builder must file an application with the Contractors License Board certifying that the structure was not intended for sale or lease at the time the permit was obtained. The Board must notify the… Read More