Amends the Hawaiian Homes Commission Act to authorize the Department of Hawaiian Home Lands to provide cash awards to beneficiaries on the waiting list in lieu of a lease. Amends the Hawaiian Home Loan Fund to be allow for the use of cash award payments. Requires the Department of Hawaiian Home Lands to remove those beneficiaries from the waiting list. Specifies that beneficiaries who accept a cash reward shall lose their right to return to the waiting list, but remain entitled to other rights provided by the Hawaiian Homes Commission Act. Effective 7/1/3000. (HD1)