Hawaii legislation · 2026 Regular Session
Hawaii HB432: Relating to the Rental Housing Revolving Fund.
Status: Failed, April 2, 2026
Establishes the mixed-income subaccount within the Rental Housing Revolving Fund that targets workforce rental housing projects for persons and families with incomes at or below one hundred forty per cent of the area median income. Authorizes the Director of Finance to transfer funds from the Rental Housing Revolving Fund into the mixed-income subaccount. Appropriates funds into and out of the mixed-income subaccount of the Rental Housing Revolving Fund.
What the bill says
A bill for an act relating to the rental housing revolving fund.
From the engrossed text:
A BILL FOR AN ACT RELATING TO THE RENTAL HOUSING REVOLVING FUND. SECTION 1. The legislature finds that the State has a housing shortage and although general excise tax exemptions and county subsidies help to reduce development costs, private development of rental housing for households earning from sixty per cent up to one hundred forty per cent of the area median income is not financially feasible without additional public subsidy. The legislature further finds that although funding is appropriated annually to the rental housing revolving fund to finance projects serving households earning up to one hundred forty per cent of area median income, the funds are prioritized for federal and state low-income housing tax credit financed projects, which generally only serve households earning up to sixty per cent of the area median income. Because the demand for revolving fund financing from first-priority tax credit projects far exceeds funding availability, mixed-income projects, including those with units serving households earning HB432 SD2 LRB 25-1591.docx Page H.B. NO. up to one hundred forty per cent of the area median income, are not able to utilize the rental housing revolving fund. The legislature also finds that strategies are needed to help keep local residents in the State. Having affordable housing opportunities for working families reduces net domestic outmigration and preserves critical segments of the …
Sponsors
- Nadine Nakamura (D, 15) · primary sponsor
- Terez Amato (D, 11)
- Della Belatti (D, 26)
- Cory Chun (D, 35)
- Elle Cochran (D, 14)
- Luke Evslin (D, 16)
- Andrew Garrett (D, 22)
- Tina Grandinetti (D, 20)
- Mark Hashem (D, 19)
- Daniel Holt (D, 28)
- Ikaika Hussey (D, 29)
- Linda Ichiyama (D, 31)
Latest actions
- : Received notice of the discharge of all House Conferees (Hse. Com. No. 457).
- : House Conferee(s) discharged.
- : Received notice of all Senate conferees being discharged (Sen. Com. No. 409).
- : Senate Conferee(s) discharged.
- : Carried over to 2026 Regular Session.
- : Received notice of change in Senate conferees (Sen. Com. No. 880).
- : Conference committee meeting to reconvene on 04-25-25 4:30 PM; Conference Room 225.
- : Senate Conferees Changed: Senator Aquino added as Co-Chair. Senator Hashimoto discharged as Co-Chair.
- : Conference committee meeting to reconvene on 04-25-25 3:30 PM; Conference Room 016.
- : Conference committee meeting to reconvene on 04-25-25 10:30AM; Conference Room 224.
Votes
- Report Adopted; Passed Third Reading, as amended (SD 2) (April 3, 2025): 25 yea, 0 nay, passed
- WAM: recommend(s) that the measure be PASSED, WITH AMENDMENTS (March 28, 2025): 11 yea, 0 nay, passed
- HOU: recommend(s) that the measure be PASSED, WITH AMENDMENTS (March 11, 2025): 3 yea, 0 nay, passed
- Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Pierick, Ward excused (2) (March 4, 2025): 49 yea, 0 nay, passed
- FIN: recommend that the measure be PASSED, UNAMENDED (February 25, 2025): 14 yea, 0 nay, passed
- Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; Representative(s) Pierick voting no (1) and Representative(s) Cochran, Sayama, Ward ex (February 12, 2025): 47 yea, 1 nay, passed
Subjects: Report, Housing, Appropriations, HHFDC, Counties, The Rental Housing Revolving Fund, Exemptions, DOA
Common questions
- What is HB432?
- HB432 is a bill in the Hawaii Legislature (2026 Regular Session): Relating to the Rental Housing Revolving Fund.
- What does HB432 do?
- In its own words: A bill for an act relating to the rental housing revolving fund.
- What is the status of HB432?
- Failed as of April 2, 2026. Latest action: Received notice of the discharge of all House Conferees (Hse. Com. No. 457). (April 2, 2026).
- Who sponsored HB432?
- Nadine Nakamura (D, 15), with 11 co-sponsors.
- Where is the official record for HB432?
- On the Hawaii Legislature website: https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=HB&billnumber=432&year=2026
Source: official Hawaii record. Tracked by Delilah, AI for legislation across all 50 states and Congress.