HRS §554-3
When a court can let trustees lease or invest trust property
A circuit court can allow or order trustees to lease trust land or invest trust money in property or buildings if it helps the trust. The court decides who gets notice and how long a lease can last. A lease approved this way stays valid even if the trust ends.
courtstrustees
The statute, as written — Trust estates, leases, investments, etc
Any circuit court having jurisdiction over a trust, on application of one or more of the trustees, and after such notice to those interested as is ordered by the court or provided by the rules of the court, may, if it appears to be for the benefit of the trust estate, authorize or direct the trustee or trustees to lease or extend the terms of leases of the real property for such periods as may be deemed advantageous to the estate; or to invest moneys of the trust estate in the purchase of real or personal property, or the constructing, improving, or repairing of buildings or other improvements on the land belonging to the trust estate, or in such other manner as the court deems to be most for the benefit of the trust estate and as best effecting the objects of the trust. Any lease or extension of lease made under such authority or direction shall continue in force for the full period so authorized notwithstanding the trust has terminated.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.