Why Every AOAO Needs a Retention Schedule

Documinium
Oct 24
2 min read

Condo associations manage an avalanche of documents, minutes, contracts, financials, violation letters, legal notices, and more. But how long should you keep each one?

That’s where a document retention schedule comes in. It’s not just a list, t’s your building’s legal safety net.

What Is a Retention Schedule?

A retention schedule is a written policy that outlines:

What types of documents your AOAO manages
How long each document must be kept (legally or operationally)
When and how it should be destroyed, if allowed

This schedule helps ensure your association complies with Hawaii’s retention laws, protects itself from legal risk, and doesn’t drown in outdated files.

Why It Matters

Without a clear retention schedule, your board could:

Illegally destroy a document needed for a lawsuit or audit
Waste hours hunting through folders for outdated or duplicate records
Overspend on storage and backups for files you’re not required to keep

Common Document Retention Timelines

Every property is a little different, but here are some examples:

Board Meeting Minutes - Permanent - These are the official record of decisions and must be kept forever.
Financial Records (e.g., ledgers, audits) - 7 years - Protects the association in case of an audit or tax review.
Violation Notices - 5 years after resolution - Long enough to show a pattern of behavior if needed in legal proceedings.
Contracts - 7 years after expiration - Preserves important terms in case of dispute or future negotiations.
Insurance Policies - Permanent or 7 years after expiration, depending on state law and claim windows.