4 License laws & ethics in Hawaii

programs affecting HI real estate

-Native American housing

-housing choice vouchers

-HUD & Fair housing

-Block grants

-Ginnie Mae

-FHA

-Department of commerce and consumer affairs DCCA

Native American housing

administers housing and community development programs that benefit native Americans

Housing choice vouchers

Assists low-income families

HUD &Fair housing

fights housing discrimination

Block grants

gives local communities the right to decide what to do within their own communities

Ginnie Mae

allows lenders to obtain a better price for mortgage loans, thus creating affordable housing

Federal Housing Administration FHA

insures home loans

DCCA Department of commerce and consumer affairs

houses several departments that govern HI real estate, including the Professional and Vocational Licensing Division, the Real Estate Commission, and the Regulated Industries Complaints Office RICO

duties of Real Estate Commission

grants licenses, registration & certificates

Adopts, amends, an repeals rules related to real estate transactions

enforces real estate rules

suspends, fines, terminates, and revokes licenses, certificates and registrations for violations

HI Real Estate Commission members:

appointed by governor

assist in the enforcement of real estate license related laws and regulations

serve for 9 yrs

4 members must be residents of Honolulu County, 1 from Hawaii County, 1 from Maui County, 1 from Kauai County, and 2 members of the public.

HI licence exemption

individuals performing real estate tasks on behalf of others but receive no compensation

buying and selling on ones own behalf

attorneys

secretary for property management companies

those performing duties of public officials, receivers, trustees, executors, and guardians.

HI license renewal

2 yrs for salesperson and brokers

Salesperson Requirements

18 years old, 60 hours pre-licensing, and pass real estate salesperson exam.