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Bill

HB 286

RELATING TO THE INDIVIDUAL HOUSING ACCOUNT PROGRAM.

2026 Regular Session Introduced by David Alcos and 6 co-sponsors

HB 286 establishes Hawaii's Individual Housing Account Program to enable residents to save for homeownership or housing stability through structured savings accounts with potential government or employer support.

Carried over to 2026 Regular Session.
#increase #individualhousingaccount #maximumannualdeduction #pre-taxsavings
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Bill Summary · HB 286

Legislative bill overview

HB 286 establishes or modifies Hawaii's Individual Housing Account Program, a mechanism designed to help residents build savings or equity toward homeownership or housing stability. The bill went through conference committee proceedings in April 2025 before being carried over to the 2026 legislative session, indicating substantive negotiations occurred between the House and Senate versions.

Why is this important

Hawaii faces a severe affordable housing crisis with some of the highest cost-of-living expenses in the nation. Programs that enable individual savings for housing directly impact whether working families can achieve homeownership or maintain stable housing in an increasingly expensive state.

Potential points of contention

  • Program scope and eligibility: Disagreement likely exists over who qualifies (income thresholds, first-time homebuyers only, renters seeking stability, etc.) and what types of housing needs are covered
  • Funding mechanism: Whether the program uses tax incentives, government appropriations, employer contributions, or matched savings models—each approach has different fiscal impacts
  • Account structure and restrictions: Rules governing deposits, withdrawals, investment options, and penalties may affect program attractiveness versus protecting funds from misuse

Compiled from official sources — confirm details with the bill’s official record.

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