Hawaii reserve study questions
Short answers to what boards and managers ask us most, grouped by topic. Each links to the longer guide where there is one.
The law
Is a reserve study required for a Hawaii condominium?
Yes, in effect. HRS 514B-148 requires the annual budget to show the estimated replacement reserves based on a reserve study, so a condominium association cannot produce a compliant budget without one.
How often does the study need updating?
The statute ties the study to each yearly budget, so most boards update it every year, often as a desk update, with a site visit every few years. If the association prepares its own study, an independent reserve study preparer must review it at least every three years.
What does "fund 50 percent" actually mean?
The board must assess owners enough to fund at least half of the estimated replacement reserves, or all of what a cash flow plan calls for if the board uses that method. Our law guide has a slider that shows the difference for a sample budget.
Does the 50 percent rule apply to our HOA?
Planned community associations fall under HRS chapter 421J, not the condominium law, so section 148 does not apply in the same way. Whether your HOA needs a study depends on chapter 421J and your documents; ask the association's attorney.
The study
What does a reserve study include?
A list of the common elements the association must replace, with each one's remaining life and replacement cost (the physical analysis), and a funding plan showing what to collect each year (the financial analysis). For Hawaii budgets it should show both percent funding and a cash flow plan.
Is a reserve study the same as an engineering inspection?
No. A reserve study is a visual review for budgeting. It can flag concrete spalling or a tired roof, but it does not test materials or certify the structure. If you need to know the extent of a problem, hire an engineer and give the reserve provider the findings.
How long does a study take?
Plan on a few weeks from signing to a draft for a smaller association, longer for a high-rise or a property on a neighbor island where the visit has to be scheduled around travel. Order it two to three months before the budget meeting.
Who should the board send to the site visit?
The manager or the building engineer, with keys to the roof, mechanical rooms and parking structure, plus records of past repairs and contracts. Those records shorten the visit and improve the cost figures.
Cost and choosing a provider
How much does a reserve study cost in Hawaii?
Typical full studies range from about $1,500 for a small walk-up to $15,000 or more for a large high-rise; updates cost less. See reserve study fees for ranges by size and level. A guide, not a quote.
What credentials should a provider have?
Ask which reserve study designation the person signing the report holds (CAI and APRA both award one), whether they carry professional liability insurance, and which Hawaii buildings like yours they have studied recently. For the three-year review of an in-house study the statute expects an independent, credentialed preparer.
Should we get more than one quote?
For a first full study or a high-rise, yes: compare level of service, who signs the report, the component list and whether travel is included. For a routine desk update, continuity with the provider who did the last full study is usually worth more than a small saving.
Tell us about the building
Three short steps. Tell us about the association, where to reach you, and what kind of study you need. We reply within one working day.
This is a free matching service, not a reserve study provider. We find a provider who works on your island, tell you who they are, and pass on your details only once you agree.
Mahalo. Your request is with us.
- A provider who works on your island is picked out for you, and you hear their name from us, by phone or email, inside one working day.
- Nothing about you reaches them unless you tell us to go ahead.
- The provider confirms the scope and sends a written fee. You decide whether to go ahead.