HONOLULU (KHON2) — Governor Green has signed several bills into law aimed at alleviating challenges faced by condominium owners.
The new legislation opens avenues for condo associations to secure financing for various building improvements, spanning from plumbing upgrades to the installation of fire sprinklers.
One notable initiative is the expansion of the Solar Hui program, which will now extend its benefits to condo owners without direct roof ownership.
This expansion enables them to participate in a collective fund for the installation of solar energy systems.
Gwen Yamaamoto Lau, Executive Director of the Hawaii Green Infrastructure Authority, explained that the program leverages private capital from private lenders.
Additionally, collaboration with the city aims to bundle water conservation and energy initiatives with essential installations like fire sprinklers and repiping, thereby reducing utility bills and offsetting other installation costs.
“It’s private capital from private lenders, we’re also working with Ernie and the City at how can we bundle water conservation and energy with the installation with fire sprinklers and repiping to lower the utility bill to offset costs of other installations.”
Gwen Yamaamoto Lau
Governor Green emphasized that the newly signed bills not only streamline management practices but also simplify the condo purchasing process, reducing paperwork burdens for prospective buyers.