Haw. Code R. § 15-308-153 - Reservation list, requirements

(a) During the initial offering period of thirty calendar days, the developer's designated broker shall compile a "qualified resident" reservation list consisting of the names, addresses, and phone numbers of all individuals stating a desire to purchase a market-priced unit contained in the announced project.

(b) The list shall be compiled in the order in which applicants have submitted to the agent a duly executed affidavit that the applicant meets the definition of "qualified resident", agrees to be an owner-occupant for a minimum of 3 65 days and will obtain an owner occupant type of loan and intends to become a purchaser of a market-priced unit.

(c) Any individual who makes any false statement in the affidavit is subject to criminal charges and civil action under the laws of this State. Any individual found to have willfully submitted false information, made misstatements, or withheld important information shall be deemed to be ineligible for the project and disqualified from future corporation-assisted projects, provided that the corporation shall not waive its right to pursue any other recourse provided by law.

(d) The developer shall submit the reservation list together with the executed affidavits to the corporation within ten days of the expiration of the initial thirty day offering period. The corporation will provide the developer with an eligible qualified resident list, which shall list the applicants approved as "qualified residents." The developer shall offer affordable units to the individuals on the eligible qualified resident list as described in section 15-308-154.

(e) Sixty days before the close of project sales, the developer shall submit to the corporation a summary of which individuals on the eligible qualified residents list purchased a market rate unit, which did not purchase a market rate unit, and the applicants' reason for not purchasing a unit. From time to time, the corporation may request an updated summary from the developer.

Notes

Haw. Code R. § 15-308-153

[Eff 1/15/2022] (Auth: HRS § 201H-4) (Imp: HRS §§ 201H-1, 201H-45) Am and comp 12/10/2022