On Friday, March 13, the Hawaii House Committee on Economic Development and Business (EDB) held a hearing on SB 2697 SD1, which would temporarily disallow the REIT DPD, except for REITs “where one hundred per cent of the trust’s real property is used to provide affordable housing in the State.”

Testimony was provided by Nareit Hawaii, along with REIT members operating in Hawaii, construction labor unions, and other real estate-based organizations, such as the Hawaii Association of Realtors and NAIOP Hawaii.

The committee chair announced that decision-making on this measure will be on Wednesday, March 18.

(Contact: Gladys Quinto Marrone at gmarrone@nareit.com)

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