Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 107 - RULES RELATING TO HORIZONTAL PROPERTY REGIMES, CHAPTER 514A, HAWAII REVISED STATUTES
Subchapter 6 - REQUIREMENTS FOR REPLACEMENT RESERVES
Section 16-107-61 - Objective
Universal Citation: HI Admin Rules 16-107-61
Current through August, 2024
This subchapter implements the requirements of section 514A-83.6, HRS, that all condominium associations must follow budgets and establish statutory replacement reserves. These rules try to ensure that each owner in a condominium project pays a fair share of the short-term and long-term costs of operating the project, based on the owner's period of ownership.
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