This article describes the preliminary results of an international comparative assessment of hazard-prone housing acquisition programs (buyouts) undertaken in six US and New Zealand communities. Semi-structured interviews were conducted with government officials and consultants tasked with administering buyout programs following flood, debris flow, and earthquake-based disasters. Key issues analyzed include local capacity, public participation, planning and design, program complexity, funding and financial management, and lesson drawing. The findings are timely given the rise in disaster-related losses, buyouts are increasingly cited as a strategy to reduce natural hazard risk and advance climate change adaptation, and national buyout programs are evolving in both countries to tackle the challenges associated with this complex process.