State of Hawaii
The state of Hawaii has adopted specific statutes related to reserve studies, which are set forth in section 514B-148 of the Hawaii Condominium Act.
Hawaii statutes generally state the the following requirements of the reserve study:
Disclosures that must accompany the annual budget
Requirement to fund a minimum of 50% of estimated replacement reserves, or 100% if using the cash flow method of calculating reserves
Describes computation method for reserves
Requires separate designated reserves for each component where repair or replacement costs will exceed $10,000
Requires a minimum funding projection period of 20 years
