What must all real estate contracts in Hawaii be based on?

In Hawaii, all real estate contracts must be based on written documentation. This requirement stems from the Statute of Frauds, which mandates that certain agreements, including those related to the sale or lease of real estate, must be in writing to be enforceable. Written contracts provide clear terms and conditions that protect the interests of all parties involved and serve as a tangible record of the agreement. This helps to mitigate misunderstandings and provides a basis for legal recourse should disputes arise.

Verbal agreements, while they may hold some informal significance, lack the enforceability and clarity that written contracts provide. Oral presentations could be part of negotiations but do not constitute a binding agreement without a written contract. Public disclosures, while important for transparency in real estate transactions, are not the foundation upon which contracts are built. Therefore, the emphasis on written documentation is essential for ensuring legally binding and clear real estate transactions in Hawaii.