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(2) All other real property, exclusive of buildings. <br /> (b) So far as practicable, records shall be compiled and kept which shall show <br /> the methods established by or under the authority of the director, for the <br /> determination of values. <br /> (c) Whenever land has been divided into lots or parcels as provided by law, <br /> each such lot or parcel shall be separately assessed. <br /> <br /> (d) When a condominium property regime is declared for a property, each unit <br /> shall be classified upon consideration of its actual use into one of the <br /> general classes in the same manner as land. <br /> <br /> (e) Classification of land: <br /> (1) Except as otherwise provided in subsection (e)(2) of this section, <br /> land shall be classified, upon consideration of its highest and best <br /> use, into the following general classes: <br /> (A) Improved residential, <br /> (B) Unimproved residential, <br /> (C) Apartment, <br /> (D) Hotel and resort, <br /> (E) Commercial, <br /> (F) Industrial, <br /> (G) Agricultural or native forests, <br /> (H) Conservation, and <br /> (I) Homeowner. <br /> (2) In assigning land to one of the general classes the director of <br /> finance shall give major consideration to the districting established <br /> by the land use commission pursuant to chapter 205, Hawaii <br /> Revised Statutes, the districting established by the County in its <br /> general plan and zoning ordinance, use classifications established <br /> in the general plan of the State, and such other factors which <br /> influence highest and best use, except that parcels which are used <br /> exclusively as the owner's principal residence shall be classified as <br /> "Homeowner" without regard to the highest and best use, provided <br /> that the director has granted to the owner a home exemption in <br /> accordance with sections 19-71 to 19-72. <br /> (A) The homeowner class is exclusively reserved for properties <br /> which are used as the owner's principal residence. Uses <br /> which shall not qualify as "Homeowner" include: <br /> (i) Real property which is valued according to its <br /> 4 <br /> <br />