A Hawaii lease-to-own lease agreement allows a tenant to enter into a contract with a landlord in which they both consent to a tenancy arrangement that includes an option to buy. In this type of lease, the tenant reserves the right to opt into a real estate transaction for the property they occupy on a rental basis — hence, they transition from renting to owning said property. Until the tenant decides, they will fulfill the roles and duties of a regular tenant. They must pay rent and maintain a relationship with their landlord as well as abide by their rules. Additionally, and though it varies from case to case, the monthly rents paid by the tenant can divert into an escrow account for the eventual purchase. However, this kind of arrangement must be predetermined on the rent-to-own lease before each party signs it into effect.

Seller Disclosures

The two (2) forms below must be presented to a purchaser of a property, if applicable.

Lead-Based Paint Disclosure – Under Federal law, selling properties built before January 1st, 1978, requires a lead-based paint disclosure form to be presented to potential buyers.

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Seller’s Property Disclosure Statement (§ 508D-5) – Sellers must provide this disclosure statement no later than ten (10) calendar days after the acceptance of a residential purchase and sale agreement. The information on this form notifies the buyer of material defects affecting the property.

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