{"data":{"id":"us-hi/haw.-rev.-stat.-514b-71","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 514B-71","heading":"Condominium education trust fund.","body":"(a) The commission shall establish a condominium education trust fund that the commission shall use for educational purposes. Educational purposes shall include financing or promoting:\n\n(1) Education and research in the field of condominium management, condominium project registration, and real estate, for the benefit of the public and those required to be registered under this chapter;\n\n(2) The improvement and more efficient administration of associations;\n\n(3) Expeditious and inexpensive procedures for resolving association disputes;\n\n(4) Support for mediation of condominium related disputes; and\n\n(5) Support for voluntary binding arbitration between parties in condominium related disputes, pursuant to section 514B-162.5.\n\n(b) The commission shall use all moneys in the condominium education trust fund for purposes consistent with subsection (a). Any law to the contrary notwithstanding, the commission may make a finding that a fee adjustment is appropriate and adjust the fees paid by associations to regulate the fund balance to an appropriate level to maintain a reasonable relation between the fees generated and the cost of services rendered by the condominium education trust fund . For the purposes of finding that a fee adjustment is appropriate in order to maintain a reasonable relation between the fees generated and the cost of services rendered by the fund, the commission's review shall include the following:\n\n(1) Frequency and timing of anticipated revenue to the fund;\n\n(2) Identification of a reserve amount based on unanticipated revenue reductions and historical expenditures;\n\n(3) Anticipated expenses paid, including recovery payouts during a biennial budget cycle;\n\n(4) Unanticipated natural disasters or catastrophic weather events that may increase fund payments; and\n\n(5) Any statutory adjustments to fund payout amounts.\n\nThe balance of the fund shall not exceed a sum determined by the commission. The sum shall be determined by the commission biennially.","path":["HI Code","Division 3","Title 28","Chapter 514B"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol12_Ch0501-0588/HRS0514B/HRS_0514B-0071.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"e170c0b1593de0bcdf7801dd831149049472d86a8291615460a6b16813f69ed3","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-514b-70","next":"us-hi/haw.-rev.-stat.-514b-72"},"notice":"GroundRules: Original legal text. Not legal advice."}