Hawaii Residential Lease with Option to Purchase

Hawaii landlords, grant your tenant an option to purchase their rental property with this Residential Lease Agreement with an Option to Purchase.

The Agreement contains provisions governing the rental, as well as additional clauses setting out how the purchase option is to be exercised. The terms and conditions include:

• payment of rent, security deposit and late charges,
• lead paint disclosure, as required by federal law,
• the landlord's right to enter the premises for inspection, repairs and to show the property,
• restrictions on noise, disturbing behavior and illegal activities,
• a portion of the rent will be applied towards the purchase price, after a specified number of months in the lease term have been completed,
• fair market value of the property to be mutually determined by the parties,
• the purchase option is null and void if the tenant breaches the lease,
• the tenant may exercise the option before the exercise date if he/she has the funds to complete the purchase.

This Hawaii Residential Lease with Option to Purchase is a fully customizable MS Word form.