Exempts Hawaii Housing Finance and Development Corporation employees from the requirement that their employment actions and job descriptions be subject to approval by the Director of Business, Economic Development, and Tourism. Requires the Executive Director of HHFDC to be paid a salary recommended by its Board of Directors and subject to the approval of the Director of Business, Economic Development, and Tourism, not to exceed ninety-nine per cent of the salary of the Governor. Renames the position of Executive Assistant to Deputy Executive Director for HHFDC and increases the salary cap for the Deputy Executive Director. Establishes conditions for the issuance, renewal, and termination of employment contracts issued by the HHFDC, Hawaii Community Development Authority, and the Hawaii Public Housing Authority. Exempts the Executive Director of HCDA, and officers, agents, and employees appointed by the Executive Director, from the requirement that their employment actions and job descriptions be subject to approval by the Director of Business, Economic Development, and Tourism. Requires the Executive Director of HCDA to be paid a salary recommended by the Authority and subject to the approval of the Director of Business, Economic Development, and Tourism, not to exceed ninety-nine per cent of the salary of the Governor. (CD1)