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 Post subject: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Tue Mar 10, 2015 3:24 pm 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
If you have not been following the lava flow, are you aware it already destroyed hundreds of properties?

Property is both land with buildings and Title.

Without Title it isn't property.

Two key words to know are

saleability and marketability

Saleability means you can offer a property for sale and someone can buy.

Marketability is a condition that the property is in. It is legally defined in Court.

I understand this is a sound byte world and most never read a posting too long and technical. So I will post several posts in this thread to explain impact on all Hawaii Islands.


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Tue Mar 10, 2015 3:35 pm 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
Marketability is defined by what a buyer can do.

If on property A
A typical qualified buyer can secure the same financing and same insurance as available on other properties, the Title is marketable by law.

If on property B
A buyer cannot obtain both, it is unmarketable.

Note: That doesn't mean property B is unsaleable. Someone that doesn't need financing or insurance may still be able to buy.


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Tue Mar 10, 2015 7:38 pm 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
Notice:

An essential element of marketability is the same financing and same insurance as available on other properties.

The fact that high risk loans and extremely expensive insurance can be purchased do not make a property marketable.

Instead they make a property more saleable.


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Tue Mar 10, 2015 7:50 pm 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
As a consequence of the June 27 lava flow, HPIA, began imposing moratoriums on neighborhoods near the flow.

For typical homes in the areas HPIA insurance represented an acceptable form of insurance. After the moratorium potential new buyers could only get forced placed insurance or Lloyd's of London.
Neither are acceptable to a typical hypothetical future buyer.

Now here is the difficult part to grasp.

Despite no outward changes to homes, properties became legally unmarketabile. The property itself changed.


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Wed Mar 11, 2015 5:04 am 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
Letter from Rep Joy

Representative Joy
Before you accuse me of burning down Puna, PLEASE
read my original bills before the chairs of the
committee, not me, changed them. So that you are able
to track legislation better, please consider going to a
Public Access workshop - they had one in Pahoa last
month and they have one once a year. For help now, go
to http://lrbhawaii.org/par/workshp.html
These are the bills I introduced and to ensure that I
had a good chance of passing a bill, I spoke to the
Insurance Commissioner beforehand to get his support:
HB370: Required renewals (look at the original bill- this
was opposed by the Insurance Council but supported
by the Insurance Commissioner). To ensure that at
least one version passed, I asked Sen. Shimabukuro to
pass the companion senate bill. The House CPC chair
refused to even grant a hearing on this bill but the
Senate heard it, changed it and
deferred it.
The House CPC chair informed me that he deferred it in
favor of HB380 which he felt had better chance of
passing through the entire house. HB380 required the
removal of the HPIA moratorium: This passed the
house.

The original HB737 merely required the expansion of
the Hurricane Fund to include lava disasters. However,
after this was amended twice, it was gutted and
replaced by wording from HB370 which required
renewals and HB380 which lifted the moratorium. i.e.
HB737 is a conglomeration of HB370 &
HB380.

Remember, this is not an authoritarian regime so we
need 26 representatives and 13 senators to pass a bill
before Gov. Ige sees it and we need him to also agree.
Thus, HB737 as amended requires renewals, but allows
5% non-renewals to appease those representatives &
senators who agree with the Insurance Council, but
also requires the lifting of the moratorium so that those
who are not renewed are able to get insurance through
HPIA.

Without the amendments, there is no statute requiring
renewals because HB370 in its present form died.
HB737 passed 3rd reading today but the senate may
amend it again once it crosses over but its unlikely
because the latest version matches the senate version:
SB737. If you look at SB737's history, you will see the
original language was gutted and replaced with the
language of my bills...altho it has Sen. Ruderman as
the introducer.

I hope the above answers your questions. We only have
the best interests of Puna at heart.

Rep. Joy San Buenaventura


Here is my followup letter to Joy. (I had asked her how
she could sleep after gutting HPIA. )

Aloha Joy,
Thank you so much for your detailed reply.
It wasn't until my second reading of your reply I caught
this point you made:

" Thus, HB737 as amended requires renewals, but
allows 5% non-renewals to appease those
representatives & senators who agree with the
Insurance Council, but also requires the lifting of the
moratorium so that those who are not renewed are
able to get insurance through HPIA."

The problem I had was not understanding this 5% non-
renewal was in reference to non-HPIA policies. I
thought the HPIA policies were at risk.

Non-HPIA policies from all but Lloyd's have been next
to impossible to get for about 10 years or more. One
sad thing about this is the people that still have direct
policies with carriers like State Farm tend to be senior
citizens. Switching to HPIA will not be easy for most.
I have posted your letter on-line at Punaweb and City-
Data.

I most certainly appreciate your efforts. I apologize
about my prior comment. Sleep well.
Philip B. Maise


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Wed Mar 11, 2015 8:46 am 
Site Admin
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I was wondering where you were going with this thread. So how is this affecting you directly? Did you have a home or land that was "destroyed" by the lava? Are you (or were you) trying to sell at the time the lava flowed?



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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Wed Mar 11, 2015 9:21 am 
Kona Kastoff
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Joined: Wed Dec 14, 2005 10:53 am
Posts: 2536
Location: Kailua-Kona
pbmaise wrote:
As a consequence of the June 27 lava flow, HPIA, began imposing moratoriums on neighborhoods near the flow. For typical homes in the areas HPIA insurance represented an acceptable form of insurance. After the moratorium potential new buyers could only get forced placed insurance or Lloyd's of London.
My insurance with Lloyd's actually was cheaper than HPIA.



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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Wed Mar 11, 2015 2:06 pm 
Kama

Joined: Tue Mar 10, 2015 4:45 am
Posts: 8
Everyone in LZ 1&2
Here is link to Act HB737 that was approved by House
and now at Senate.

THERE ARE BIG PROBLEMS

Notice as an excuse for HPIA to not lift the moratorium,
they can say other insurance is still available:

" " §431:21- Issuance of new policies;
removal of moratorium. If residential
property insurance is unavailable due to a
moratorium on the issuance of policies on
property situated in a lava zone and if the
mayor of the county of Hawaii has issued a
proclamation declaring that a state of
emergency exists in that lava zone due to the
threat of imminent disaster from a lava flow,
the association shall remove its moratorium.
For residential properties in the lava zone
that do not have property insurance coverage,
upon the moratorium's removal, the association
shall issue new policies and may provide a
waiting period no longer than six months for
the policy coverage to take effect. ""

Joy's letter basically said in exchange for allowing
cancellations of non-HPIA policies, that the HPIA
moratorium would be lifted. By reading the paragraph
above I don't see that.

The bill would have been better with the insertion of
the word "conventional".

Everyone save that letter I posted from Joy, I will
forward to you by email if requested.

It is so important since this may come into a legal fight
between us and HPIA. If they still keep the moratorium
in place they are directly violating the intention of the
legislators.

Further, as an excuse to not lift the moratorium, all that
HPIA need say is the Mayor has not issued a
Proclamation. If a Mayor wishes to stop new insurance
policies all the Mayor need do is fail to issue a
proclamation.

Notice what this bill really does:
It ends all new HPIA policies unless it is last available
option.

This bill can stop a buyer of existing homes from
getting HPIA because other insurance options
exist or Mayor didn't issue a Proclamation.

The 6 month waiting period is another issue ripe with
problems:
1. Can a builder sell a new home? Home insurance
during construction in LZ 1&2 is difficult. Is any firm
offering it. Without, being required to write on a new
home, builders will be even more reluctant to build. Yes,
perhaps not a bad thing but tell that to the people
owning vacant land that bought it to build their
retirement home.

2. "The lava zone" means properties on entirely
different volcanoes may be subject 6 month wait. How
is an insurance firm to say which home was already in
the path of a flow?

Again, this problem stems from current Lava Zones
being stagnant without any basis in actual flow in
foreseeable future.

The public has had zero chance to provide input into
the bill totally rewritten by the committee chairman.
No one here even was aware of revised language till I
brought it to light, and a quick Google search yields
zero other websites that mention big changes to
insurance law.

So what to do now:

Contact Senate ASAP

to add "conventional"

Delete sentence "and if the mayor...lava zone"


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Wed Mar 11, 2015 5:08 pm 
Site Admin
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Joined: Sat Dec 10, 2005 7:30 pm
Posts: 2522
Location: Kapolei
I'll ask again. How is this affected you directly? You keep posting things that may or may not affect you directly and have not told me exactly what your particular situation is.



_________________
Dave Brilliant (S)
Real Estate Agent RS-77348
(808) 366-8714
Dave Brilliant
Proudly Serving Both Oahu and the Big Island!!!
Kona Ka'u Realty
75-143 Hualalai Road, B-205
Kailua-Kona, HI 96740

Da Kine Web Design
Pohue Bay
Kona Forum
Koko Head Shooting Complex
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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Thu Mar 12, 2015 4:56 pm 
Malihini
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Joined: Sun Mar 05, 2006 1:32 pm
Posts: 349
Location: Kona
Have read you on Punaweb. Enough already, please don't start your multipage diatribes, or pretend court scenarios touting what a brilliant _____________and ___________you are here. This is Kona, not Puna and nobody gives a shit.

Go piss up a rope....................


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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Thu Mar 12, 2015 5:47 pm 
Site Admin
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Joined: Sat Dec 10, 2005 7:30 pm
Posts: 2522
Location: Kapolei
A Punatic escapes from that side of the island, comes over here to the dark side and you tell him to "piss up a rope"????? :lol: :lol: :lol:

I am glad you are my body guard!!! :wink: :wink: :wink:



_________________
Dave Brilliant (S)
Real Estate Agent RS-77348
(808) 366-8714
Dave Brilliant
Proudly Serving Both Oahu and the Big Island!!!
Kona Ka'u Realty
75-143 Hualalai Road, B-205
Kailua-Kona, HI 96740

Da Kine Web Design
Pohue Bay
Kona Forum
Koko Head Shooting Complex
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 Post subject: Re: Hundreds of properties destroyed by June 27 lava flow
PostPosted: Sun Mar 22, 2015 6:24 pm 
Site Admin
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Joined: Sat Dec 10, 2005 7:30 pm
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Location: Kapolei
Well obviously Phil B Maise has decided he does not want to answer my direct questions. He obviously has something to hide and probably has some agenda that would be exposed by his answers. I really don't appreciate people who come to this forum and just start posting crap and refuse to interact and discuss whatever they are posting about. Makes no sense to me.



_________________
Dave Brilliant (S)
Real Estate Agent RS-77348
(808) 366-8714
Dave Brilliant
Proudly Serving Both Oahu and the Big Island!!!
Kona Ka'u Realty
75-143 Hualalai Road, B-205
Kailua-Kona, HI 96740

Da Kine Web Design
Pohue Bay
Kona Forum
Koko Head Shooting Complex
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