HRS §481M-2
What is a lease-purchase agreement?
This section defines a lease-purchase agreement. It is a short-term rental of personal items for home or family use, where you can keep paying to continue, can stop anytime, and can eventually own the item.
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The statute, as written — Lease-purchase agreement defined
A lease-purchase agreement is an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes, for an initial period of four months or less that: (1) Is automatically renewable with each payment after the initial period; (2) Does not obligate or require the lessee to continue leasing or using the property beyond the initial period; and (3) Permits the lessee to become the owner of the property.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.