(a) Every residential lease shall contain a provision for the mandatory arbitration of any rent renegotiation reopening.
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Terms Used In Hawaii Revised Statutes 516D-12

  • 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 the event that a residential lease does not contain a mandatory arbitration provision, the following arbitration procedure shall apply:

(1) Rent shall be determined by three impartial arbitrators, who shall be recognized real estate appraisers;
(2) Each party shall select an arbitrator, both of whom shall select the third arbitrator;
(3) The three arbitrators shall determine the rent renegotiation which shall be final, conclusive, and binding on both parties; and
(4) Lessor and lessee shall each pay one-half of all proper costs and expenses other than attorneys’ fees.
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