Escrow of deposits
- Statute:
- Hawaii §514B-91 · Chapter CONDO (Hawaii Condominium Property Act (HRS Chapter 514B))
- Topic:
- Records & Disclosure · Purchaser protection
- Applies to:
- Condo associations
All moneys paid by purchasers shall be deposited in trust under a written escrow agreement with an escrow depository licensed pursuant to chapter 449. An escrow depository shall not disburse purchaser deposits to or on behalf of the developer prior to closing except: (1) As provided in sections 514B‑92 and 514B‑93; or (2) As provided in the purchaser's sales contract in the event the sales contract is canceled.
📄 Read the official text at capitol.hawaii.gov →
How SoShiny helps with Escrow of deposits
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does Hawaii §514B-91 require?
- All moneys paid by purchasers shall be deposited in trust under a written escrow agreement with an escrow depository licensed pursuant to chapter 449. An escrow depository shall not disburse purchaser deposits to or on behalf of the developer prior to closing except: (1) As provided in sections 514B‑92 and 514B‑93; or (2) As provided in the purchaser's sales contract in the event the sales contract is canceled.
- Who does Hawaii §514B-91 apply to?
- Hawaii §514B-91 applies to Condo associations in Hawaii.
- What happens if our condo doesn't comply with §514B-91?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Hawaii community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Hawaii §514B-91?
- The official text is published by the Hawaii State Legislature at capitol.hawaii.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Escrow of deposits?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of Hawaii §514B-91 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Hawaii-licensed attorney. For the official statutory text, see the link above.
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