Why Do We Have to Register the AOUO?
After much study, the law requiring condominium associations to register with the Real Estate Commission was enacted in 1989 and on January 1, 1990 the registration requirement became effective (HRS § 514B-103). Among other reasons, the law was enacted to:
- Provide basic information to the Legislature and other interested parties about condominium associations and about the availability of educational programs for condominium unit owners funded by the Condominium Education Fund, now known as the Condominium Education Trust Fund;
- Assist the Commission with responding to inquiries on information about condominium projects.
- Allows the Commission to maintain current contact lists to disseminate information on important law changes, such as the chapter 514A repeal of 2017.
- Allow associations to maintain standing in court. Associations that fail to register pursuant to HRS §514B-72(c), “shall not have standing to bring any action to collect or to foreclose any lien for commons expenses or other assessments in any court of this state.”
- Fund and grant access to heavily subsidized mediation and voluntary arbitration to condominium owners and boards to resolve conflicts.