Prior to any notice of intended disposition, the board of land and natural resources shall:

(1) Classify the land according to its use or uses as provided in this chapter;

Terms Used In Hawaii Revised Statutes 171-33

  • Board: means the board of land and natural resources. See Hawaii Revised Statutes 171-1
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Land: includes all interests therein and natural resources including water, minerals, and all such things connected with land, unless otherwise expressly provided. See Hawaii Revised Statutes 171-1
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lease: means the right to possess and use land for a term of years. See Hawaii Revised Statutes 171-1
(2) Determine the specific use or uses for which the disposition is intended;
(3) Parcel land into units of minimum size areas related to the intended specific use or uses and sufficient for an economic operation, hereinafter called an “economic unit”;
(4) Determine the requirements for the construction of building or other improvements, which are necessary or desirable to encourage the highest use of the land;
(5) Determine the upset price or lease rental, based upon the fair market value of the land employed to the specific use or uses for which the disposition is being made, with due consideration for all of the terms and conditions of the disposition;
(6) Determine the necessary conditions of disposition which will discourage speculation;
(7) In the case of leases, determine the minimum tenure necessary to support the intended use or uses and the necessity for periodic rent openings in long-term leases to assure the State a fair return;
(8) Prepare the proposed documents and make them available for public inspection;
(9) Determine, two years before the expiration of the term of any lease, whether the premises are to be demised for the same use or uses under a new lease or whether all or any part thereof is to be reserved for other use or uses and then promptly notify the lessee of the determination.

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