Yesterday, Governor Green signed bills into law to stabilize the state’s property insurance market and expand essential resources for youth and young adults facing homelessness.
The legislation includes:
SB 1044: RELATING TO THE STABILIZATION OF PROPERTY INSURANCE
Due to the instability in the insurance market that has been exacerbated by local and national environmental disasters, Senate Bill 1044 (Act 296) aims to stabilize the state’s property insurance market amid escalating premiums and limited coverage options.
Act 296 reactivates the Hawaiʻi Hurricane Relief Fund (HHRF) to provide insurance coverage in scenarios where the private market fails to do so.
Act 296 also enhances the powers of the Hawaiʻi Property Insurance Association (HPIA) to provide additional coverage options, establishes the Condominium Loan Program to help buildings remain insurable, and mandates the Insurance Commissioner to conduct a comprehensive study aimed at developing sustainable strategies for market stabilization.
HB 613: RELATING TO HOMELESS YOUTH
House Bill 613 (Act 297) makes permanent the youth pilot program originally established under Act 130, Session Laws of Hawai‘i 2022. The measure creates a safe space and youth program in each county for youth and young adults experiencing or at risk of homelessness. These safe spaces will provide 24/7 access to lodging, meals, showers, medical and behavioral health services, as well as educational and employment support. Through the joint efforts of state and county departments, those in need of further support shall be connected to nonprofit institutions with the expertise to offer long-term support and shelter. Reports of this program will be submitted to the Legislature. Appropriations will be $871,016 for fiscal year 2026 and $1.8 million for fiscal year 2027.
The complete list of bills signed includes the following.
SB 1231 (ACT 298) RELATING TO PARENTAGE
