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Part II: Clarifies the powers of the Mauna Kea Stewardship and Oversight Authority so that it may carry out its intended duties regarding land use on Mauna Kea. Adds reversion dates of 6/30/2028 and 12/31/2029 if the deadline to adopt a management plan or to submit proposed administrative rules to the Governor is not met; extends the transition period to 12/1/2029; clarifies that the oversight and interest of MKSOA in the Mauna Kea lands shall be no more than what is expressly granted in chapter 195H, HRS; and clarifies that title to Mauna Kea lands shall remain with the State. Part III: Provides that the existing plans and administrative rules adopted or developed by UH under which Mauna Kea is currently governed remain in effect until plans and administrative rules adopted by MKSOA take effect. Part IV: Clarifies that MKSOA has state sovereign immunity. Part V: Authorizes MKSOA to extend leases and subleases before the transfer, for up to an additional ten-year term. (CD1)