Who does Hawaii §421I-1 apply to?

Hawaii §421I-1 applies to Co-op associations in Hawaii.

What happens if our co-op doesn't comply with §421I-1?

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 §421I-1?

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.

Hawaii §421I-1

Cooperative housing corporation; defined

Statute:: Hawaii §421I-1 · Chapter COOP (Hawaii Cooperative Housing Corporations Act (HRS Chapter 421I))
Topic:: Definitions · Glossary
Applies to:: Co-op associations

A cooperative housing corporation under this chapter has one class of stock, lets a tenant-shareholder occupy a dwelling only by owning that stock, generally does not distribute except on liquidation, and derives at least 80 percent of its gross income from tenant-shareholders (IRC §216). DCCA has no jurisdiction.

cooperative; one class of stock; tenant shareholder; 80 percent; 26 usc 216

📄 Read the official text at capitol.hawaii.gov →

How SoShiny helps with Cooperative housing corporation; defined

SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model.

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Frequently asked

What does Hawaii §421I-1 require?: A cooperative housing corporation under this chapter has one class of stock, lets a tenant-shareholder occupy a dwelling only by owning that stock, generally does not distribute except on liquidation, and derives at least 80 percent of its gross income from tenant-shareholders (IRC §216). DCCA has no jurisdiction.
Who does Hawaii §421I-1 apply to?: Hawaii §421I-1 applies to Co-op associations in Hawaii.
What happens if our co-op doesn't comply with §421I-1?: 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 §421I-1?: 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 Cooperative housing corporation; defined?: SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model. Learn more →

Not legal advice. This page is a plain-English summary of Hawaii §421I-1 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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