Hawaii HOA reserve study requirements (2026)

Independent review of the reserve study at least every 3 years; 30-year minimum cash-flow projection.

Quick facts

What the law actually requires

Hawaii's Condominium Property Act at HRS § 514B-148 requires the annual budget to include the estimated replacement reserves assessments the association will require to maintain the property, based on a reserve study. Under § 514B-148(a)(5), if the study was not prepared by an independent reserve study preparer, it must be reviewed by one no less than every three years. The statute defines an independent reserve study preparer as any organization, company, or individual holding a reserve study certification from an industry organization.

Under § 514B-148(b), the association must assess unit owners to either fund a minimum of fifty percent of the estimated replacement reserves assessments, or fund one hundred percent of the estimated replacement reserves assessments when using a cash flow plan. The statute defines a cash flow plan as a minimum thirty-year projection of the association's future income and expense requirements to fully fund its replacement reserves each year of that period, except in an emergency.

Small associations — fewer than 20 units and no more than two stories — may waive the independent-preparer review requirement for one three-year cycle by majority vote of unit owners. The waiver cannot be used for consecutive cycles.

How ReserveDeck handles Hawaii

When a property's compliance jurisdiction is set to Hawaii, ReserveDeck's report prints the HRS § 514B-148 requirements described above on its Disclosures page and states the study cycle in the cover letter. The reserve math is the same in every state.

ReserveDeck does not reproduce a state's statutory disclosure form; it provides the reserve figures a board needs to complete one (reserve requirement, percent funded, multi-year projections, and the funding plans).