How much your rent can increase at renewal

(a) Except as otherwise specified under this subsection, the annual renegotiated lease rent payable from any renegotiation date by an owner-occupant for a residential apartment shall not exceed the maximum annual renegotiated lease rent established in accordance with this section. Only when administratively adjusted pursuant to § 39-1.7 may the annual renegotiated lease rent exceed the maximum. (b) The maximum annual renegotiated lease rent for a residential apartment shall be the initial lease rent multiplied by a rent factor. The rent factor shall be determined by dividing: (1) The average consumer price index for the six-month period in which the rent renegotiation occurs; by (2) The average consumer price index for the six-month period in effect at the time of the effective date of the initial lease rent. (c) For purposes of determining the maximum annual renegotiated lease rent, the applicable consumer price index shall be the index in effect on the renegotiation date. The council is aware that the consumer price index is an average figure that is published every six months and may not accurately reflect the change in consumer prices as it applies to Honolulu on the renegotiation date. Accordingly, the maximum renegotiated lease rent may be adjusted within a six-month period to reflect the actual change, if any, and the adjusted amount shall be the maximum renegotiated lease rent for that period.