STAND. COM. REP. NO. 2222

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  S.B. No. 3160
                                        S.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Government Operations and Housing, to
which was referred S.B. No. 3160 entitled: 

     "A BILL FOR AN ACT RELATING TO THE SALE OF RESIDENTIAL
     CONDOMINIUM APARTMENTS TO OWNER-OCCUPANTS,"

begs leave to report as follows:

     The purpose of this measure is to streamline owner-occupancy
sales requirements for condominiums set forth in part VI of
chapter 514A by giving priority to owner-occupants for sales of
residential condominium apartments without hampering a
developer's need for flexibility in the ever-changing real estate
market.

     Comments and proposed amendments to this measure were
received from the Land Use Research foundation of Hawaii, Gentry
Homes, Ltd., and the Real Estate Commission.

     Your Committee has amended this measure to reduce the time
period during which at least fifty per cent of the apartments
being sold shall be offered only to owner-occupants from one
hundred eighty days to thirty days.  Your Committee has also
amended this measure to require that the minimum price of the
unit for sale be set forth in the advertisements or publications
required under section 514A-102, Hawaii Revised Statutes.  Your
Committee has also amended this measure to provide owner-
occupants with an extension of the thirty-day time period
requirement between the date of the announcement of sale and the
signing of the agreement of sale to accomodate any delays in

 
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                                   STAND. COM. REP. NO. 2222
                                   Page 2


obtaining financing.  Your Committee has further amended this
measure to make technical amendments.

     As affirmed by the record of votes of the members of your
Committee on Government Operations and Housing that is attached
to this report, your Committee is in accord with the intent and
purpose of S.B. No. 3160, as amended herein, and recommends that
it pass Second Reading in the form attached hereto as S.B.
No. 3160, S.D. 1, and be referred to the Committee on Ways and
Means.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Government
                                   Operations and Housing,



                                   ______________________________
                                   ROD TAM, Chair

 
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