At least once in each of two successive weeks, and at any time following the issuance of an effective date of the first developer‘s public report for the condominium project, the developer shall cause to be published in at least one newspaper published daily in the State with a general circulation in the county in which the project is to be located, and, if the project is located other than on the island of Oahu, in at least one newspaper that is published at least weekly in the county in which the project is to be located, an announcement or advertisement containing at least the following information:

(1) The location of the project;
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Terms Used In Hawaii Revised Statutes 514B-95.5

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Condominium: means real estate, portions of which are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of those portions. See Hawaii Revised Statutes 514B-3
  • county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
  • Developer: means a person who undertakes to develop a real estate condominium project, including a person who succeeds to the interest of the developer by acquiring a controlling interest in the developer or in the project. See Hawaii Revised Statutes 514B-3
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Project: means a real estate condominium project; a plan or project whereby a condominium of two or more units located within the condominium property regime are created. See Hawaii Revised Statutes 514B-3
(2) The minimum price of the residential units;
(3) A designation as to whether the residential units are to be sold in fee simple or leasehold;
(4) A statement that for a thirty-day period following the initial date of sale of the condominium project, at least fifty per cent of the residential units being marketed shall be offered only to prospective owner-occupants;
(5) The name, telephone number, and address of the developer or other real estate broker designated by the developer that an interested individual may contact to secure an owner-occupant affidavit, developer’s public report, and any other information concerning the project; and
(6) If applicable, a statement that the residential units will be offered to prospective purchasers through a public lottery.

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