Rent-to-own program
HRS §201H-181
in effect201H-181. Rent-to-own program
(a) The corporation may establish a rent-to-own program under which dwelling units that are for sale may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received toward the purchase of the unit.
(b) The sales price shall be established at
the beginning of the rental term and shall remain fixed for the first five
years after the rental agreement is executed. During this period, the
participant shall have the option of purchasing the unit at the designated
sales price. If the participant does not elect to purchase the unit within the
five-year period, the renter shall forfeit the right to continue living in the
unit and the unit shall be made available to another purchaser or renter.
(c) The corporation shall have the right to
reestablish the sales price upon expiration of the option period or upon resale
of the unit.
[L 2006, c 180, pt of §4]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0201H/HRS_0201H-0181.htmFetched: 11/10/2026