eForms Logo

Hawaii Rent-to-Own Lease Agreement

A Hawaii rent-to-own lease agreement is between a landlord and tenant for a rental contract that includes an option to purchase the property. The terms of the purchase are usually agreed to at the time of lease signing. If the tenant does not buy the property, the lease will terminate at the end of the tenancy period.
PDF
Word
ODT
4.4 Stars | 7 Ratings
Downloads: 85

Hawaii Laws

Requirement to Record: Options to purchase do not need to be recorded to be enforceable between the original parties. However, recording establishes protections against third parties.[1][2]

Expiration: Hawaii law does not specifically address the expiration of constructive notice.

Maximum Term: When the option is created, it must vest or terminate no later than twenty-one years after the death of an individual then alive; or within ninety years after its creation.[3]

No Duration: An option without a clearly defined duration is invalid.

Signing Requirements: Must be in writing and signed by the seller.[4]

Required Disclosures (4)

1. General Excise Tax Number – The landlord must provide their general excise tax number to tenants, which allows them to apply for a low-income tax credit.[5]

  • Tax Number Search – Click the link titled “Search Tax Licenses.” After entering the landlord’s name, a number should appear starting with “GE” and followed by 12 characters.

2. Landlord’s Name and Address – The landlord must disclose any persons allowed onto the premises.[6]

3. Lead-Based Paint Disclosure & EPA Pamphlet – Federal law requires all landlords/managers to disclose this to all new tenants if the property was constructed before 1978.[7]

4. Move-in Condition Report – Prior to any written agreement, the landlord must provide a copy of the condition of the premises in addition to any furnishings or appliances.[8]

Seller’s Disclosures (1)

1. Seller’s Property Disclosure Statement (required) – The property disclosure statement includes sections on known material defects, renovations, legal issues, utility sources, and more.

Sample

Download: PDF, MS Word, ODT