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NEWS

May 31, 2024

New Legislation Aims to Ease Condominium Maintenance & Energy Costs

Hawaii condominium owners and associations have reason to celebrate. A recent suite of legislation signed by Governor Green promises to streamline building improvements, enhance access to sustainable energy solutions, and potentially reduce overall utility costs.

Key Provisions for a Brighter Future:

• Enhanced Financing Options: Previously, securing financing for essential condo improvements like plumbing upgrades and fire sprinkler installations could be a complex and costly undertaking. This new legislation streamlines the process, allowing associations to access financing more readily, ensuring timely upkeep and improved building safety.

• Solar Energy Inclusivity: The expansion of the Solar Hui program is a significant step forward for residents in condo buildings without direct roof access. By enabling participation in a collective fund for solar panel installations, this initiative empowers a wider range of condo owners to embrace renewable energy and reduce their environmental footprint.

• Strategic Bundling: A collaborative effort between the state and city government seeks to explore bundling water conservation and energy efficiency measures with necessary projects like fire sprinkler installation or re-piping. This innovative approach has the potential to significantly lower overall utility bills for condo residents, offsetting the costs associated with these essential upgrades.

Benefits Beyond Maintenance:

These legislative measures offer a multi-pronged approach to improving the lives of Hawaii condo owners. By facilitating critical maintenance, promoting sustainable energy options, and potentially lowering utility burdens, the legislation fosters a more secure, cost-effective, and environmentally friendly condo living experience.

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