(a) This article shall apply to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, this article shall apply to the extent provided in subsection (b).
Terms Used In Hawaii Revised Statutes 490:2A-102
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
(b) In a hybrid lease:
(1) If the lease-of-goods aspects do not predominate:
(A) Only the provisions of this article that relate primarily to the lease-of-goods aspects of the transaction shall apply, and the provisions that relate primarily to the transaction as a whole shall not apply;(B) Section 490:2A-209 shall apply if the lease is a finance lease; and(C) Section 490:2A-407 shall apply to the promises of the lessee in a finance lease to the extent that the promises are consideration for the right to possession and use of the leased goods; and(2) If the lease-of-goods aspects predominate, this article shall apply to the transaction, but shall not preclude the application, in appropriate circumstances, of other law to aspects of the lease that do not relate to the lease of goods.
