Establishes the Office of Aerospace Development in the Hawaii Technology Development Corporation instead of the Department of Business, Economic Development, and Tourism. Repeals references to the Pacific International Space Center for Exploration Systems. Transfers the rights, powers, functions, and duties of the Pacific International Space Center for Exploration Systems to the Office of Aerospace Development. Allows the Aerospace Advisory Committee to select the Director of the Office of Aerospace Development. Reduces the number of members on the Aerospace Advisory Committee. Appropriates funds to UH. Effective 7/1/2050. (HD2)