Hawaii HOA reserve study requirements

A plain-language summary of HRS § 514B-148. Last checked October 2026.

Who it applies to: Condominium associations.
How often: The yearly budget must be based on a reserve study. If the study was not prepared by an independent reserve study preparer, an independent preparer must review it at least every three years.
Who can prepare it: The study may be "performed by or on behalf of the association". The budget must disclose who performed it, their qualifications and any conflicts of interest.
What it must contain: Estimated replacement reserves based on each part's estimated life and cost. The association must fund at least 50 percent of the estimate, or 100 percent when using a cash flow plan, which is a projection of at least 30 years.

Can a board do its own reserve study in Hawaii?

Board may prepare part of it

A board can prepare its own study, so the workbook's 30-year plan fits. An independent reserve study preparer must still review a board-prepared study at least every three years, and Hawaii's funding minimums apply.

Your governing documents may set stricter rules than the statute. Check them too.

The workbook

Reserve Study Kit is an Excel workbook that builds a 30-year reserve funding plan from your component list: every year's balance, percent funded, and the contribution that keeps you above your minimum.

See how it works

Source

HRS § 514B-148. Read the statute itself before relying on this summary.