Black Sands Iolani St.

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Appendix A — Tax Deed Disclosure

Important — please read carefully before purchasing.

What Is a Tax Deed?

A tax deed is issued when a property is sold by a government authority due to the prior owner's failure to pay real property taxes. The purchaser at a tax auction receives a tax deed conveying the government's interest in the property. Seller acquired this property by tax deed.

What Is the Redemption Period?

Under Hawaii law, the original property owner (or certain parties with an interest in the property) has the legal right to reclaim — or "redeem" — the property within a set period after the tax sale. During this redemption period, the original owner may pay all delinquent taxes, penalties, fees, and costs to reclaim full title to the property.

If the original owner exercises their right of redemption, Seller's tax deed interest — and by extension, Buyer's interest under the Land Installment Contract — will be extinguished. Buyer will not acquire ownership of the property if redemption occurs.

Redemption Period Details

Redemption Period Expiration Date: June 2027

After this date, the original owner's right to redeem the property expires and Seller's tax deed interest becomes more secure. However, tax deed title may still be subject to other legal challenges.

Refund Policy If Redemption Occurs

If the original owner exercises their right of redemption at any time during the term of the Land Installment Contract:

• This Land Installment Contract terminates automatically upon Seller receiving written notice or confirmation of redemption.
• Seller will refund the full amount of all payments made under the contract, including the down payment and all monthly payments received, within thirty (30) calendar days of Seller receiving the redemption refund from the applicable government authority, but in no event later than ninety (90) calendar days from the date of redemption.
• No interest is paid on refunded amounts.
• This refund is Buyer's sole and exclusive remedy in the event of redemption. Seller has no further liability to Buyer.

Property Use & Belongings

Buyer may access and use the property during the term of the agreement. If redemption or default termination occurs, Buyer has ninety (90) calendar days from written notice to remove personal property from the land; anything remaining after that period is deemed abandoned and becomes Seller's property. Improvements made to the land are non-removable and non-compensable.

Full terms are set out in Appendix A of the Land Installment Contract (PDF).