Reserve Studies - The Complete Guide is 436 pages explaining the concepts and process for making a reserve study. For more information and to order, click here.

 

 

Facilities Advisors International

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Hawaii reserve studies

Facilities Advisors, Inc. has been preparing reserve studies since 1982, and in Hawaii since 2006. We have prepared numerous reserve studies for all types of associations; condominiums, planned developments, timeshare associations, and cooperatives. Our reserve study reports are unique - they are designed to meet your statutory requirements, to serve as a maintenance plan, and the reports and disclosures are designed to save you time. You save time in budget preparation because we prepare the reserve disclosures for you. Our unique reserve staudy comparison exhibit also saves you time by showing you where our current report differs from the previous report, no matter who prepared the prior report. It helps report users understand and evaluate what has changed since the prior report was issued.

The state of Hawaii has adopted specific statutes related to reserve studies, which are set forth in section 514B-148 of the Hawaii Condominium Act.

Hawaii statutes generally state the the following requirements of the reserve study:

Disclosures that must accompany the annual budget

Requirement to fund a minimum of 50% of estimated replacement reserves, or 100% if using the cash flow method of calculating reserves

Describes computation method for reserves

Requires separate designated reserves for each component where repair or replacement costs will exceed $10,000

Requires a minimum funding projection period of 20 years