Hawaii House Committee Holds Hearing on SB 2697 SD1

03/16/2020

On Friday, March 13, the Hawaii House Committee on Economic Development and Business (EDB) held a hearing on SB 2697 SD1, which would temporarily disallow the REIT DPD, except for REITs “where one hundred per cent of the trust’s real property is used to provide affordable housing in the State.”

Testimony was provided by Nareit Hawaii, along with REIT members operating in Hawaii, construction labor unions, and other real estate-based organizations, such as the Hawaii Association of Realtors and NAIOP Hawaii.

The committee chair announced that decision-making on this measure will be on Wednesday, March 18.

(Contact: Gladys Quinto Marrone at gmarrone@nareit.com)

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.