Section 15-307-147 - Former owner's right of first refusal(a) A former owner of a dwelling unit shall have the right of first refusal regarding the resale by the corporation of a dwelling unit repurchased from him or her under this subchapter; provided, however, that the former owner has not yet purchased a dwelling unit pursuant to section 15-307-148.(b) Under this section, after a dwelling unit repurchased from the former owner by the corporation under this subchapter is repaired, the corporation shall first offer the dwelling unit for sale to the former owner for a price equal to the repurchase price paid by the corporation for the dwelling unit and subject to the restrictions set forth in sections 201H-47 and 201H-34, HRS, and the shared appreciation program restriction in effect at the time of repurchase. If the former owner rejects the offer. then the corporation may offer the dwelling unit for sale to persons other than the former owner at the price and subject to the restrictions set forth in this subsection. (c) If the corporation is unable to sell the dwelling unit under the terms and conditions set forth in subsection (b), then the corporation may offer the dwelling unit for sale under new terms and conditions that may differ from those specified in subsection (b); provided, however, that the corporation shall first offer the dwelling unit for sale to the former owner under the new terms and conditions. If the former owner rejects the offer, then the corporation may offer the dwelling unit for sale to persons other than the former owner under the new terms and conditions. Haw. Code R. § 15-307-147
[Eff DEC 04 2010] (Auth: HRS § §2 01H- 3 5, 20 1H- 51) (Imp: HRS §2 01H- 51)