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Committee approves UH revenue bond authority for student housing renovations
Summary
The Senate Committee on Higher Education voted to pass HB1168 HD1, which would allow the University of Hawai‘i to issue revenue bonds to fund student housing renovation projects, including gut renovations at Hale Waianani buildings; specific dollar amounts were left blank pending further details.
The Senate Committee on Higher Education on March 18 voted to pass House Bill 1168 HD1 to permit the University of Hawai‘i to use revenue bonds for capital improvements to student housing, including major renovations at the Hale Waianani complex.
University witnesses said the requested bond flexibility would be used primarily for student housing projects for FY2026 and FY2027. University officials described plans to fully renovate two low‑rise buildings at Hale Waianani (Buildings G and H) with approximately $20 million per low‑rise noted in the committee discussion; work on the high‑rise portion would be phased and scheduled in a later biennium.
Committee members pressed university officials on the scope, timing and how bond debt service would affect student rents. Officials said the housing program has produced financial models that include projected operations and maintenance budgets and that revenue bonds are typically issued on 20‑ to 30‑year schedules, with rent revenue covering debt service. The university said it will provide a detailed breakdown of outstanding revenue bonds and projected payments to the committee.
The committee voted to pass HB1168 HD1 unamended and forwarded it to Ways and Means; the bill draft sent to committee left dollar amounts blank for follow‑up.
