If Shannon and Bob signed a lease waiving their rights to the security deposit, which statement is true?

The correct choice highlights that even if Shannon and Bob's lease includes a provision waiving their rights to the security deposit, this clause does not invalidate the entire lease agreement. Many jurisdictions, including Hawaii, have laws that protect tenants against waiving certain rights, such as the right to recover a security deposit. As a result, while the specific provision concerning the waiver may not be enforceable due to these legal protections, the lease itself remains valid and binding.

Understanding this distinction is important because it allows the lease to continue to govern the relationship between the landlord and tenants, even if some terms are unenforceable. This protects the integrity of the overall agreement and ensures that both parties must adhere to the legally acceptable portions of the lease, while allowing for remedies and protections that are deemed necessary by law.