§514B-56 Developer's public report; amendments. (a) After the effective date for a developer's public report has been issued by the commission, if there are any changes, either material or pertinent changes, or both, regarding the information contained in or omitted from the developer's public report, or if the developer desires to update or change the information set forth in the developer's public report, the developer shall immediately submit to the commission an amendment to the developer's public report or an amended developer's public report clearly reflecting the change, together with such supporting information as may be required by the commission, to update the information contained in the developer's public report, accompanied by nonrefundable fees as provided in rules adopted by the director of commerce and consumer affairs pursuant to chapter 91. Within a reasonable period of time, the commission shall issue an effective date for the amended developer's public report or take other appropriate action under this part.
(b) The submission of an amendment to the developer's public report or an amended developer's public report shall not require the developer to suspend sales, subject to the power of the commission to order sales to cease as set forth in section 514B-66; provided that the developer shall advise the appropriate real estate broker or brokers, if any, of the change and disclose to purchasers any change in the information contained in the developer's public report pending the issuance of an effective date for any amendment to the developer's public report or amended developer's public report; provided further that if the amended developer's public report is not issued within thirty days after its submission to the commission, the commission may order a suspension of sales pending the issuance of an effective date for the amended developer's public report. Nothing in this section shall diminish the rights of purchasers under section 514B-94.
(c) The developer shall provide all purchasers with a true copy of:
(1) The amendment to the developer's public report, if the purchaser has received copies of the developer's public report and all prior amendments, if any; or
(2) A restated developer's public report, including all amendments.
(d) The filing of an amendment to the developer's public report or an amended developer's public report, in and of itself, shall not be grounds for a purchaser to cancel or rescind a sales contract. A purchaser's right to cancel or rescind a sales contract shall be governed by sections 514B-86 and 514B-87, the terms and conditions of the purchaser's contract for sale, and applicable common law.
(e) Notwithstanding any other provision to the contrary, this section shall not apply to a time share project duly registered under chapter 514E; provided that:
(1) A copy of the disclosure statement required by chapter 514E is delivered to the purchaser or prospective purchaser; or
(2) Pursuant to section 514E-30, a copy of the disclosure statement required by chapter 514E is not required to be delivered to the purchaser or prospective purchaser because the offer and sale of the time share interest are made outside of the State. [L 2005, c 93, pt of §3; am L 2019, c 223, §3]
Structure Hawaii Revised Statutes
514B-4 Separate titles and taxation.
514B-5 Conformance with county land use laws.
514B-6 Supplemental county rules governing a condominium property regime.
514B-7 Construction against implicit repeal.
514B-9 Obligation of good faith.
514B-10 Remedies to be liberally administered.
514B-23 Amendments to governing instruments.
514B-32 Contents of declaration.
514B-34 Condominium map; certification of architect, engineer, or surveyor.
514B-39 Limited common elements.
514B-40 Transfer of limited common elements.
514B-41 Common profits and expenses.
514B-42 Metering of utilities.
514B-44 Contents of deeds or leases of units.
514B-46 Merger of projects or increments.
514B-47 Removal from provisions of this chapter.
514B-51 Registration required; exceptions.
514B-52 Application for registration.
514B-53 Inspection by commission.
514B-54 Developer's public report; requirements for issuance of effective date.
514B-55 Developer's public report; request for hearing by developer.
514B-56 Developer's public report; amendments.
514B-57 Commission oversight of developer's public report.
514B-59 Expiration of developer's public reports.
514B-60 No false or misleading information.
514B-61 General powers and duties of commission.
514B-63 Condominium specialists; appointment; duties.
514B-66 Cease and desist orders.
514B-67 Termination of registration.
514B-70 Limitation of actions.
514B-71 Condominium education trust fund.
514B-72 Condominium education trust fund; payments by associations and developers.
514B-73 Condominium education trust fund; management.
514B-81 Applicability; exceptions.
514B-83 Developer's public report.
514B-84 Developer's public report; special types of condominiums.
514B-85 Preregistration solicitation.
514B-86 Requirements for binding sales contracts; purchaser's right to cancel.
514B-87 Rescission after sales contract becomes binding.
514B-89 Sales contracts before completion of construction.
514B-90 Refunds upon cancellation or termination.
514B-92 Use of purchaser deposits to pay project costs.
514B-93 Early conveyance to pay project costs.
514B-94 Misleading statements and omissions; remedies.
514B-95.5 Announcement or advertisement; publication.
514B-96 Designation of residential units.
514B-96.5 Unit selection; requirements.
514B-98 Sale of residential units; developer requirements.
514B-99.5 Inapplicability of laws.
514B-101 Applicability; exceptions.
514B-102 Association; organization and membership.
514B-103 Association; registration.
514B-105 Association; limitations on powers.
514B-106 Board; powers and duties.
514B-106.5 Service of process.
514B-109 Restatement of declaration and bylaws.
514B-110 Bylaws amendment permitted; mixed use property; representation on board.
514B-111 Judicial power to excuse compliance with requirements of declaration or bylaws.
514B-112 Condominium community mutual obligations.
514B-113 Medical cannabis; discrimination.
514B-121 Association meetings.
514B-122 Association meetings; minutes.
514B-123 Association meetings; voting; proxies.
514B-124 Association meetings; purchaser's right to vote.
514B-124.5 Voting for elections; cumulative voting.
514B-126 Board meetings; minutes.
514B-131 Operation of the property.
514B-133 Association employees; background check; prohibition.
514B-134 Management and contracts; developer, managing agent, and association.
514B-135 Termination of contracts and leases of developer.
514B-136 Transfer of developer rights.
514B-137 Upkeep of condominium.
514B-138 Upkeep of condominium; high-risk components.
514B-139 Upkeep of condominium; disposition of unclaimed possessions.
514B-140 Additions to and alterations of condominium.
514B-141 Tort and contract liability; tolling of limitation period.
514B-142 Aging in place or disabled; limitation on liability.
514B-144 Association fiscal matters; assessments for common expenses.
514B-145 Association fiscal matters; collection of unpaid assessments from tenants or rental agents.
514B-146 Association fiscal matters; lien for assessments.
514B-147 Association fiscal matters; other liens affecting the condominium.
514B-148 Association fiscal matters; budgets and reserves.
514B-149 Association fiscal matters; handling and disbursement of funds.
514B-150 Association fiscal matters; audits, audited financial statement.
514B-151 Association fiscal matters; lease rent renegotiation.
514B-152 Association records; generally.
514B-153 Association records; records to be maintained.
514B-154 Association records; availability; disposal; prohibitions.
514B-155 Association as trustee.
514B-157 Attorneys' fees, delinquent assessments, and expenses of enforcement.
514B-162.5 Voluntary binding arbitration.