Hawaii House Bill HCR79

Hawaii 2025 Regular Session

• Introduced: 3/6/25
• Refer: 3/14/25

Caption

Requesting The Insurance Commissioner To Conduct A Statewide Study On Title Insurance.

Impact

If enacted, HCR79 could lead to significant changes in the title insurance landscape within Hawaii. By investigating the potential to reduce or eliminate title insurance costs, the Insurance Commissioner could find solutions that help lower upfront costs for home buyers. This reform could facilitate increased home ownership among residents, particularly among those for whom financial barriers have traditionally hindered their ability to enter the housing market.

Summary

HCR79 is a House Concurrent Resolution from the Thirty-third Legislature of Hawaii, which calls for the Insurance Commissioner to conduct a statewide study on title insurance. The intent of this resolution stems from the recognition that the current title insurance requirements can impose a significant financial burden on prospective home buyers. The bill aims to explore the feasibility of reforming or even eliminating these requirements to make homeownership more accessible to residents of Hawaii.

Contention

The discussions surrounding this bill may include diverse viewpoints on the role of title insurance in protecting property rights and the implications of potential changes. While proponents argue that reducing the costs associated with title insurance is necessary to enhance housing accessibility, opponents may be concerned about the risks and consequences of less stringent insurance policies, particularly surrounding property disputes or claims that could arise post-purchase.