Who has the right of first refusal if the leased fee interest in a Hawaii condominium is offered for sale?

The Board of Directors of the Association of Apartment Owners has the right of first refusal when the leased fee interest in a Hawaii condominium is offered for sale. This right is typically established to protect the interests of the condominium community.

When the leased fee interest (the ownership of the land on which the condominium sits) is being sold, it is important for the existing owners (the lessees) to have the opportunity to purchase the leased fee interest before it is sold to an outside party. The Board of Directors, representing the homeowners association, is often tasked with this responsibility, reflecting the desire to maintain control and integrity within the community.

This provision helps ensure that decisions regarding significant ownership changes remain within the community and can help prevent potential issues that might arise from the new ownership dynamics imposed by outside buyers.

The other choices are not correct as they either do not pertain directly to the rights associated with condominium ownership in this context or lack the authority needed concerning such matters within the community structure.