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Haw. Rev. Stat. § 514B-150

Association fiscal matters; audits, audited financial statement

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(a) The association shall require an annual audit of the association financial accounts and no less than one annual unannounced verification of the association's cash balance by a public accountant; provided that if the association is comprised of less than twenty units, the annual audit and the annual unannounced cash balance verification may be waived at an association meeting by a vote of a majority of the unit owners. (b) The board shall make available a copy of the annual audit to each unit owner at least thirty days prior to the annual meeting which follows the end of the fiscal year. The board shall not be required to submit a copy of the annual audit report to an owner if the proxy form issued pursuant to section 514B-123(e) is not marked to indicate that the owner wishes to obtain a copy of the report. If the annual audit has not been completed by that date, the board shall make available:

An unaudited year end financial statement for the fiscal year to each unit owner at least thirty days prior to the annual meeting; and

The annual audit to all owners at the annual meeting, or as soon as the audit is completed, but not later than six months after the annual meeting. (c) If the association's fiscal year ends less than two months prior to the convening of the annual meeting, the year-to-date unaudited financial statement may cover the period from the beginning of the association's fiscal year to the end of the month preceding the date on which notice of the annual meeting is mailed. [L 2004, c 164, pt of §2; am L 2005, c 93, §7; am L 2014, c 189, §8; am L 2017, c 73, §3]

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Association fiscal matters; audits, audited financial statement

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