Hawaii Revised Statutes 514e. Time Sharing Plans

• 514e-1 Definitions.
  As used in this chapter, unless the context otherwise requires: "Acquisition agent" means any person, other than a developer or sales agent, who, for compensation,...
• 514e-1.5 Time Share Administrator; Duties.
  The director shall appoint a time share administrator, who shall not be subject to chapter 76, to administer this chapter. The administrator shall be...
• 514e-2 Status of Property.
  (a) The temporal division of any interest in real property shall not, in and of itself, affect its status as real property. (b) Whether...
• 514e-2.5 Licensing of Sales Agents and Acquisition Agents.
  (a) Except as provided in section 467-2, no sales agent shall act or assume to act as a real estate salesperson or a real...
• 514e-2.6 Repealed.
  L 2001, c 71, §1.
• 514e-3 Taxation.
  (a) The plan manager, if any, shall collect and pay real property and transient accommodations taxes due on the time share units or occupants...
• 514e-4 County Authority.
  The several counties shall, by amendment of their zoning ordinances, limit the location of time share units, time share plans and other transient vacation...
• 514e-5 Geographic Limitations.
  Except as provided in this section, time share units, time share plans, and transient vacation rentals are prohibited. (1) Existing time share units, time...
• 514e-5.5 Foreign Time Share Plans; Exemption.
  (a) A foreign time share plan may obtain an exemption from the requirements of this chapter as provided in this section. (b) The developer...
• 514e-6 Time Sharing in Projects.
  (a) If the project in which the time share unit or time share plan is to be created contains an existing time share unit...
• 514e-6.5 Voting Rights for Time Share Units.
  Voting rights for any apartment units designated or sold as time share units shall be as provided in rules adopted by the director of...
• 514e-7 Maintenance Charges.
  If time share units, or transient vacation rentals are located in the same project as private residential units, charges for the maintenance of common...
• 514e-8 Mutual Right to Cancel.
  Within seven calendar days after the execution of the contract to purchase an interest in a time share plan, or within seven calendar days...
• 514e-8.5 Classes of Time Share Interests.
  (a) A time share plan may establish classes of time share interests defined by characteristics as the developer shall determine, including but not limited...
• 514e-8.6 One-To-one Use-Right to Use-Night Requirement.
  (a) A developer shall not offer or dispose of a time share unit or a time share interest unless the one-to-one use-right to use-night...
• 514e-9 Disclosure Statement.
  (a) Any offering of a time sharing plan to the public shall disclose: (1) The name and address of the developer and of the...
• 514e-9.1 Disclosure Statement; Prospective Purchasers.
  The purchaser of a time share interest shall be provided a copy of the disclosure statement filed with and accepted by the director concurrently...
• 514e-9.5 Exchange Program; General Provisions.
  (a) An exchange agent (including the developer if it is also an exchange agent) shall distribute not less than annually to each purchaser of...
• 514e-9.8 Time Share Interest Owner Referrals.
  (a) An owner of an interest in a time share plan duly registered under this chapter who is not licensed under chapter 467 and...
• 514e-10 Registration Required; Developer, Acquisition Agent, Plan Manager, and Exchange Agent; Registration Renewal.
  (a) A developer shall not offer or dispose of a time share unit or a time share interest unless the disclosure statement required by...
• 514e-10.2 Limited Permit.
  (a) Notwithstanding any other provision of this chapter, the director may issue a limited permit to a developer permitting the offer or sale, in...
• 514e-10.3 Time Share Owners Association; Budgets and Reserves.
  (a) For each fiscal year, the plan manager, or the board of the association if there is no plan manager, shall adopt an operating...
• 514e-10.5 Consultant Review of Developer Filing.
  The director may contract with private consultants in connection with the review of the filing required of time share developers pursuant to section 514E-10(a)...
• 514e-11 Prohibited Practices.
  It is a violation of this chapter for any sales agent or acquisition agent of time share units or plans to: (1) Fail to...
• 514e-11.1 Deceptive Trade Practices.
  It shall constitute an unfair or deceptive practice, within the meaning of chapter 480, for any developer, acquisition agent, or sales agent of time...
• 514e-11.2 Power to Enjoin.
  (a) Whenever it shall appear to the director, upon complaint or otherwise, that any person has engaged in, is engaged in, or is about...
• 514e-11.3 Remedies; Sales Voidable; When and by Whom.
  Every sale or transfer made in violation of this chapter shall be voidable at the election of the purchaser. Without limiting any other remedy...
• 514e-11.4 Defense to Action.
  In the event a purchaser of a time share interest brings an action for damages under this chapter or under chapter 480, pursuant to...
• 514e-12 Civil Penalty; Suspension or Revocation of Registrations.
  (a) For any cause authorized by law, including but not limited to a determination by the director that any person has violated any provision...
• 514e-12.5 Statutory or Common-Law Remedies.
  Nothing in this chapter shall limit any statutory or common-law right of any person to bring any action in any court for any act...
• 514e-13 Authority of Director.
  The director and the several counties may adopt rules and forms, pursuant to chapter 91, to effectuate the purpose of this chapter and to...
• 514e-14 Preexisting Time Share Units and Plans.
  Time share units and time share plans for existing units which were created in a project prior to June 29, 1980, shall, within six...
• 514e-15 Severability.
  If any provision of this chapter or the application thereof to any person or circumstance, is held invalid, the invalidity thereof shall not affect...
• 514e-16 Deposit of Purchaser's Funds, Notes, and Contracts Into Escrow.
  (a) All funds and any negotiable instruments and purchase money contracts received before closing from or on behalf of purchasers or prospective purchasers in...
• 514e-17 Release of Purchaser's Funds, Notes, and Contracts From Escrow Without a Closing.
  A purchaser's funds, negotiable instruments, and purchase money contracts may be released from escrow without a closing as follows: (1) If a purchaser or...
• 514e-18 Release of Purchaser's Funds, Notes, and Contracts From Escrow Upon Closing.
  (a) Upon the closing of the escrow for the sale of a time share interest, the purchaser's funds and any negotiable instruments and purchase...
• 514e-19 Protection of Purchasers From Blanket Liens.
  (a) An escrow for the sale of a time share interest in a time share ownership plan may close only if the requirements of...
• 514e-20 Effect of Recording a Nondisturbance Agreement.
  When a nondisturbance agreement has been executed by the lienholder and recorded, the lienholder, its successors, and anyone who acquires the property through foreclosure...
• 514e-21 Effect of Recording a Notice of Time Share Plan.
  When a notice of time share plan is recorded, claims by creditors of the developer and claims upon, or by successors to, the interest...
• 514e-22 General Requirements for Trusts.
  If time share units are required to be conveyed to a trustee pursuant to section 514E-19, the trust instrument must provide for at least...
• 514e-23 Requirements for Trustees.
  If time share units are conveyed to a trustee pursuant to section 514E-19, the following requirements shall be met: (1) The trustee must be...
• 514e-24 Additional Requirements for Lien Payment Trusts.
  (a) If a lien payment trust is established to meet the requirements of section 514E-19, then in addition to the requirements of section 514E-22,...
• 514e-25 Lien Payment Deposit.
  (a) The lien payment deposit shall consist of either (i) nondelinquent purchase money contracts from purchasers of time share interests in the time share...
• 514e-26 Termination of a Trust.
  (a) In the case of a time share use plan, the trust for the time share units shall be irrevocable during the time that...
• 514e-27 Alternative Arrangements for Purchaser Protection.
  (a) In recognition of the impossibility or impracticability of a proposed time share plan satisfying some of the requirements of section 514E-19 because of...
• 514e-28 Requirements for Surety Bonds and Letters of Credit.
  Any surety bond or irrevocable letter of credit furnished to the director pursuant to section 514E-19 must be in an amount which is not...
• 514e-29 Association; Lien for Delinquent Assessments.
  (a) All time share plans shall have an association which shall be a nonprofit or not-for-profit corporation, a nonprofit or not-for-profit limited liability company,...
• 514e-30 Scope of Chapter.
  This chapter applies to the offer and sale in Hawaii of time share interests in time share units located in Hawaii. If time share...
• 514e-31 Private Right of Action.
  Nothing in this chapter shall be construed to preclude a person aggrieved by a violation of this chapter from filing an action in court...

Last modified: October 27, 2016