Haw. Rev. Stat. § 206-34
This is the official text of Haw. Rev. Stat. § 206-34, part of Hawaii’s Rev. Stat — part of the compiled statutory law of Hawaii, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Policy as to sale prices and rentals.
Official statutory text
It shall be the policy of the State that the board of land and natural resources (acting directly or by an agent or agents) shall manage and operate its development projects in an efficient manner so as to enable it to fix the rentals or prices for lands at the lowest possible rates or sales prices consistent with the purpose of this chapter; and that the board shall not construct or operate any project for profit, or as a source of revenue to the State. To this end, the board shall fix the sales prices for residential lots or rentals for lots or buildings in its projects at no higher rates or prices than it shall find to be necessary to produce revenues which (together with all other available moneys, revenues, income, and receipts of the board from whatever sources derived under the administration of this chapter) will be sufficient:
(1) To pay, as the same become due, the principal and interest on the bonds of the board;
(2) To meet the cost of, and to provide for, maintaining and operating the projects (including the cost of any insurance) and the administrative expenses of the board; and
(3) To create a reserve sufficient to meet the largest principal and interest payments which will be due on the bonds in any one year thereafter, and to maintain such reserve; provided that the rates or prices shall be at least fifteen per cent below the going market prices of comparable properties determined in accordance with generally accepted appraisal principles. [L 1961, c 6, §32; Supp, §98J-32; HRS §206-34]
(1) To pay, as the same become due, the principal and interest on the bonds of the board;
(2) To meet the cost of, and to provide for, maintaining and operating the projects (including the cost of any insurance) and the administrative expenses of the board; and
(3) To create a reserve sufficient to meet the largest principal and interest payments which will be due on the bonds in any one year thereafter, and to maintain such reserve; provided that the rates or prices shall be at least fifteen per cent below the going market prices of comparable properties determined in accordance with generally accepted appraisal principles. [L 1961, c 6, §32; Supp, §98J-32; HRS §206-34]
Status: in_force · Read it on the official government site
Need a lawyer in Hawaii?
Find a Hawaii lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.