A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.

A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.

In Hawaii, condominiums are regulated under the Hawaii Revised Statutes (HRS), specifically under Chapter 514B, known as the 'Condominium Property Act.' This legislation outlines the creation, governance, and operation of condominiums in the state. Each condominium unit owner has an exclusive ownership interest in their unit and a shared interest in the common elements of the property, such as lobbies, pools, and other amenities. The common elements are maintained through the collection of monthly homeowners' association (HOA) fees from the unit owners. The HOA is typically managed by a board of directors elected by the unit owners, and the board's powers and responsibilities are defined by the HOA's declaration and bylaws. These governing documents, along with state law, dictate how the condominium operates, including the maintenance of common areas, enforcement of rules, and handling of finances. Unit owners are obligated to comply with the HOA's regulations and to pay the required dues, which fund the upkeep of the property and its insurance coverage.