Haw. Code R. § 15-301-2
As used in this chapter: "Annualized gross income" means the gross monthly income multiplied by 12. Gross monthly income is the sum of: monthly gross pay; any additional income from overtime, part-time employment, bonuses, dividends, interest, royalties, pensions. Department of Veterans' Affairs (VA) compensation, net rental income, etc.; and other income (such as alimony, child support, public assistance, sick pay, social security benefits, unemployment compensation, income received from trusts, and income received from business activities or investments) .
The income to be taken into account in determining the gross monthly income is the income of the eligible leaseholder (or eligible leaseholders)' and all non-dependent persons who are expected to live in the residence being financed under this chapter.
"Area median income" means the median income for the county of Hawaii as established by the United States Department of Housing and Urban Development from time to time, and adjusted by family size.
"Board" means the board of directors of the corporation.
"Corporation" means the Hawaii housing finance and development corporation.
"Eligible leaseholder" means a person or family who, at the time of application: '
(1) Is a leaseholder;
(2) Has no present ownership interest in a principal residence at the time of loan closing;
(3) Is at least eighteen years of age;
(4) Does not have annualized gross income that exceeds one hundred twenty per cent of the area median income at the time of application;
(5) Has applied for, and been denied, a loan from one financial institution;
(6) Possesses the financial resources and credit worthiness to repay the loan.
"Executive director" means the executive director of the corporation, or the executive director's designated representative.
"Financial institution" means an institution as defined in chapter 412, HRS, 12 U.S.C. §21 (national bank) and 12 U.S.C. §1461 (Federal savings and loan association or federal savings bank).
"Government" includes the State and the United States and any political subdivision, agency, or instrumentality, corporate or otherwise, of either of them.
"Guide" means the set of instructions and guidelines, terms and conditions for the origination and servicing of loans made under this chapter. The guide shall be available for public inspection at the principal office of the corporation during the corporation's normal business hours.
"Household" means the leaseholders who dwelled, and continues to dwell, as a family and have been displaced or dispossessed from their home as a result of the continued volcanic eruptions on the Island of Hawaii.
"Leaseholder" means a person who was awarded a lease by the department of land and natural resources for the Kikala-Keokea residential subdivision.
"Program" means the Kikala-Keokea housing revolving fund program.
"Residence" means the dwelling unit which is financed pursuant to this chapter.
"State'' means the State of Hawaii.
Haw. Code R. § 15-301-2