What requirement must every real estate office in Hawaii fulfill?

Every real estate office in Hawaii is required to keep transaction records for a minimum of three years. This requirement is essential to ensure compliance with state regulations and provide a clear audit trail for any transactions conducted. Maintaining these records not only serves as protection for the clients and the real estate professionals involved but also helps in resolving any potential disputes or issues that may arise from transactions.

The three-year retention period allows for appropriate oversight by regulatory bodies and supports transparency in the industry. This documentation typically includes contracts, correspondence, and other pertinent details related to real estate transactions.

While maintaining escrow account records and displaying signage are important operational aspects of running a real estate office, and employing a salesperson is essential for carrying out day-to-day activities, they are not mandated requirements for all offices in the same way that the retention of transaction records is. Thus, focusing on record-keeping aligns with the intention to uphold professionalism and accountability in real estate practices in Hawaii.