The Hawaii Property Insurance Association (HPIA) has filed a broad update to its HO-6 condominium unit owners program, seeking to expand coverage options while significantly increasing rates as the state’s condo insurance market continues to tighten.

The filing, submitted January 15, 2026, revises HPIA’s non-lava HO-6 program and combines changes to forms, rates, and rules. New business would take effect March 1, 2026, with renewals following April 1, 2026, pending approval. HPIA frames the update as a response to limited availability of condo coverage in Hawaii, driven by higher reinsurance costs, sharply rising association deductibles, and increased loss assessments passed down to unit owners.

At the center of the filing is an overall proposed premium increase of approximately 285%. HPIA reports that all 16 HO-6 policies currently in force are written at the program’s minimum premium, and under the proposal, policyholders would see increases ranging from roughly 100% to nearly 400%, depending on selected coverages and deductibles.

The update also expands consumer choice. HPIA is introducing higher optional loss assessment limits through a new endorsement, adding deductible options up to $10,000, and adopting Hawaii Insurance Bureau rules to allow Coverage A limits above the current $5,000 cap. These changes are designed to better reflect the much higher deductibles now common in condominium master policies and the resulting assessments charged to unit owners.

Actuarially, HPIA points to limited program experience and its role as insurer of last resort. The association notes that its HO-6 business attracts higher-risk properties declined by the voluntary market and that rates are intentionally set to avoid competing with private insurers. Historical results included in the filing show volatile experience and losses exceeding premiums over several years, with return on equity driven largely by investment income rather than underwriting results.