Senators on joint committees voted to pass SB 744 with amendments that insert the contents of SB 1601 — a more comprehensive condominium loan and credit enhancement framework administered by the Hawaii Green Infrastructure Authority (HGIA) — and deferred several related condominium measures for further work.

At the Feb. 5, 2025, hearing, the Hawaii Green Infrastructure Authority (HGIA) and the Hawaii Bankers Association offered support and comments. HGIA testified that it has received roughly a dozen condominium applications or referrals and estimated the average project need could be in the $5.5 million range, with some projects as small as $2 million and others as large as $14 million. HGIA said current pipeline requests could total roughly $50 million when aggregated.

Committee leaders said they would delete SB 744’s original contents and insert SB 1601’s text, adopt the more comprehensive framework, and note an initial proposed appropriation of $30 million in the committee report. The committee adopted the amendment package and passed SB 744 with that insertion; the committee set the bill’s effective date as amended and advanced the measure by committee vote.

Committee members also heard multiple condominium governance bills in the same hearing series, including measures addressing alternative dispute resolution (SB 146), fines procedures (SB 147), reserve disclosures (SB 253), access to governing documents (SB 385), managing‑agent qualifications (SB 801), and insurance‑related incentives (SB 804). Several of those bills drew detailed oral testimony from condominium owners, the Community Associations Institute (CAI), realtors, and consumer advocates.

The committee deferred decision making on SB 1601 to allow more time to refine the program’s structure and to address stakeholder concerns about CPACE/CPACER‑style financing, the effect of any assessment or lien on individual condominium units, and whether loans would be attached to common areas or unit tax assessments. HGIA explained the proposed model would not place assessments on individual unit property taxes and said HGIA intends to underwrite and enroll loans, while differing stakeholders described past CPACE litigation and foreclosure concerns.

Committee chairs scheduled follow‑up decision sessions to allow the parties to work through the technical issues, and they will publish the committee report listing the adopted amendment that inserts SB 1601 into SB 744 and the committee’s note of an initial $30 million appropriation.