467-1 Definitions. As used in this chapter:

"Commission" means the real estate commission of the State.

"Custodian or caretaker" means any individual, who for compensation or valuable consideration, is employed as an employee by a single owner and has the responsibility to manage or care for that real property left in the individual's trust; provided that the term "custodian" or "caretaker" shall not include any individual who leases or offers to lease, or rents or offers to rent, any real estate for more than a single owner; provided further that a single owner shall not include an association of owners of a condominium, cooperative, or planned unit development.

"Hotel" includes a structure or structures used primarily for the business of providing transient lodging for periods of less than thirty days and which furnishes customary hotel services including but not limited to front desk, restaurant, daily maid and linen service, bell service, or telephone switchboard; provided that for the purposes of this chapter, units in a project as defined by section 514B-3 that provide customary hotel services shall be excluded from the definition of hotel. The definition of "hotel" as set forth in this section shall be in addition to and supplement the definition of "hotel" as set forth in the various county ordinances.

"Real estate" means and includes lands, the improvements thereon, leaseholds, and all other interests in real property. It shall be immaterial that a transaction also involves property other than real estate, as for example a transaction for the sale of an ongoing business, an asset of which consists of a leasehold or other interest in real property. In such a case, to the extent that real estate is involved, it shall be considered a real estate transaction for the purpose of this definition.

"Real estate broker" means any person who, for compensation or a valuable consideration, sells or offers to sell, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, or lists, or solicits for prospective purchasers, or who leases or offers to lease, or rents or offers to rent, or manages or offers to manage, any real estate, or the improvements thereon, for others, as a whole or partial vocation; or who secures, receives, takes, or accepts, and sells or offers to sell, any option on real estate without the exercise by the person of the option and for the purpose or as a means of evading the licensing requirement of this chapter.

"Real estate salesperson" means any individual who, for a compensation or valuable consideration, is employed either directly or indirectly by a real estate broker, or is an independent contractor in association with a real estate broker, to sell or offer to sell, buy or offer to buy, or list, or solicit for prospective purchasers, or who leases or offers to lease, or rents or offers to rent, or manages or offers to manage, any real estate, or the improvements thereon, for others as a whole or partial vocation; or who secures, receives, takes, or accepts, and sells or offers to sell, any option on real estate without the exercise by the individual of the option and for the purpose or as a means of evading the licensing requirements of this chapter. Every real estate salesperson shall be under the direction of a real estate broker for all real estate transactions. [L 1933, c 140, 1; RL 1935, 7310; am L 1935, c 126, 1, 2; am L 1941, c 205, pt of 1; RL 1945, 7731; am L 1949, c 277, 1; am L 1953, c 252, 1; RL 1955, 170-1; am L 1961, c 154, 1; HRS 467-1; am L 1974, c 141, 1; am L 1977, c 197, 1(2); am L 1985, c 141, 2; gen ch 1985; am L 1988, c 145, 1; am L 1989, c 217, 2; am L 1994, c 100, 1; am L 1995, c 241, 1; am L 1997, c 289, 2; am L 1999, c 47, 4 and c 240, 10; am L 2004, c 164, 13; am L 2008, c 28, 10; am L 2017, c 181, 17]

 

Cross References

 

Discrimination in real property transactions, see chapter 515.

Uniform land sales practices act, see chapter 484.

 

Case Notes

 

Whether party was engaged in real estate broker activities was a question of fact. 692 F. Supp. 1239 (1988).

Broker's rights to compensation. 47 H. 220, 386 P.2d 855 (1963).

Evidences legislative intent to regulate "middlemen". 68 H. 371, 715 P.2d 805 (1986).

 

 

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