Use of purchaser deposits to pay project costs
- Statute:
- Hawaii §514B-92 · Chapter CONDO (Hawaii Condominium Property Act (HRS Chapter 514B))
- Topic:
- Records & Disclosure · Purchaser protection
- Applies to:
- Condo associations
(a) Subject to the conditions set forth in subsection (b), purchaser deposits that are held in escrow pursuant to a binding sales contract may be disbursed before closing to pay for project construction costs, including, in the case of a conversion, for repairs necessary to cure violations of county zoning and building ordinances and codes, for architectural, engineering, finance, and legal fees, and for other incidental.
📄 Read the official text at capitol.hawaii.gov →
How SoShiny helps with Use of purchaser deposits to pay project costs
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-92 require?
- (a) Subject to the conditions set forth in subsection (b), purchaser deposits that are held in escrow pursuant to a binding sales contract may be disbursed before closing to pay for project construction costs, including, in the case of a conversion, for repairs necessary to cure violations of county zoning and building ordinances and codes, for architectural, engineering, finance, and legal fees, and for other incidental.
- Who does Hawaii §514B-92 apply to?
- Hawaii §514B-92 applies to Condo associations in Hawaii.
- What happens if our condo doesn't comply with §514B-92?
- 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-92?
- 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 Use of purchaser deposits to pay project costs?
- 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-92 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.
Stay current on Hawaii association law.
Get the free quick-reference guide plus a heads-up when the statutes that govern your community change.
Don’t run your condo on spreadsheets.
Start your community free →