Haw. Rev. Stat. § 516 § 516-73
Suggested form of standardized summary of lease provisions.
Operative Text
A standardized summary of lease provisions executed pursuant to section 516-71 of this chapter may, but need not, be substantially in the following form: STANDARDIZED SUMMARY OF LEASE PROVISIONS This receipt dated _______________, between ________________ ________________________________________ (the "buyer"), and ________________________________________ (the "seller"), tax map key no. ( ) / / / (the "property"). Lessor: _______________________________________________________ Sublessor: ____________________________________________________ Lease Expiration: ____________ Surrender Clause: (yes or none) Lease Rent: $__________ per __________ until __________ $__________ per __________ until __________ $__________ per __________ until __________ Renegotiation Dates: __________________________________________ Renegotiation Terms: __________________________________________ ________________________________________________________________ I understand the information above is a summary of the terms of the lease and that for more detailed information I should read the lease. I understand that the subject property is leasehold property and I will acquire the right to occupy and use the leased real property for the time stated in the lease agreement. I will not acquire outright or absolute ownership of the land or fee simple ownership. The land is owned by lessor or the leased fee owner, to whom I, the lessee, will agree to make lease rent payments and comply with the terms of the lease or be subject to the lessor's enforcement actions. The lease rent payments are usually fixed for specific amounts at fixed periods of time, then subject to renegotiation. Renegotiation may be based on formula or arbitration set in the lease agreement or by law or by agreement between the lessor and lessee. THE RENEGOTIATED LEASE RENTS MAY INCREASE SIGNIFICANTLY. AT THE END OF THE LEASE, I MAY HAVE TO SURRENDER THE PROPERTY (SURRENDER CLAUSE) AND THE LAND BACK TO THE LESSOR WITHOUT ANY COMPENSATION. I understand when leasehold property is acquired, title is normally conveyed by means of an assignment of lease, whose purpose is similar to that of a deed. The legal and practical effect is different because the assignment conveys only the rights and obligations created by the lease to the property, not the property itself. I UNDERSTAND THAT IF I HAVE ANY LEGAL QUESTIONS ABOUT LEASEHOLD PROPERTY, ABOUT THE LEASE DOCUMENTS, ABOUT THE TERMS OF THE LEASE, AND ITS CONSEQUENCES, I SHOULD SEEK THE ADVICE OF AN ATTORNEY. [ ] I HAVE READ AND UNDERSTAND THE PROVISIONS OF THE LEASE DOCUMENTS RECEIVED, AND ACCEPT THE TERMS OF THE LEASE. [ ] I DO NOT ACCEPT THE TERMS OF THE LEASE AND CANCEL THE ACCEPTANCE CONTRACT (DROA). ______________________________ _______________________________ Buyer's signature Buyer's signature Date: ________________, ____AM/PM [L 1991, c 276, §5]
Hawaii Revised Statutes § 516-73 establishes a suggested—but not mandatory—standardized summary form that can accompany leasehold transactions conducted under § 516-71. The form is designed to communicate key lease terms to a buyer, including rent schedules, renegotiation dates, surrender clauses, and the fundamental distinction between leasehold ownership and fee simple ownership. Because the form is optional, parties may use it as a model or adapt it, but the provision does not require its exact use.
Plain English — not legal advice.
Under Haw. Rev. Stat. § 516-73, sellers and lessors involved in leasehold transactions have the option to use this standardized summary form to clearly disclose critical lease terms—such as rent amounts, renegotiation provisions, and any surrender clause—to prospective buyers. Compliant operators typically ensure that the summary accurately reflects the underlying lease documents and that buyers acknowledge receipt and understanding by signing the form. Providing this disclosure helps demonstrate transparency about the leasehold nature of the property and the buyer's obligations to the lessor.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Haw. Rev. Stat. § 516-73 is relevant to anyone acquiring leasehold property in Hawaii, as it outlines a model disclosure form intended to help buyers understand that they are obtaining use rights—not fee simple ownership—of the land. Buyers who receive this summary are encouraged by the form itself to read the full lease documents and to seek legal counsel if they have questions about the lease's terms or consequences. If a buyer believes material lease information was withheld or misrepresented during a transaction under § 516-71, tenant-rights organizations or a Hawaii attorney familiar with leasehold property can help identify available options.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 23, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
Effective Timeline
References In
Rules and statutes that cite this regulation