Bootcamp For Buyers

First Time Homebuyer Programs in Hawaii

Hawaii offers several programs to assist first-time homebuyers in achieving their dream of homeownership. Through the Hawaii Housing Finance and Development Corporation (HHFDC), these programs provide financial assistance and favorable loan terms tailored to meet the unique challenges of Hawaii’s housing market.

Hula Mae Loan Program

The Hula Mae Loan Program offers competitive fixed-rate mortgages for eligible first-time buyers.

  • Features a 30-year fixed-rate loan with below-market interest rates.
  • Income and purchase price limits vary by island and household size.
  • Available to first-time homebuyers or those purchasing in targeted areas.

Hula Mae Down Payment Assistance Program

This program provides financial support for down payments and closing costs.

  • Offers up to 3% of the loan amount for down payment assistance.
  • Assistance is structured as a forgivable second mortgage.
  • Must be used in conjunction with a Hula Mae Loan.

Affordable Resale Program

For buyers purchasing affordable housing units, this program ensures long-term affordability.

  • Offers capped resale prices to maintain affordability for future buyers.
  • Includes eligibility criteria based on income and household size.
  • Available statewide through HHFDC-approved lenders.

Hawaii’s first-time homebuyer programs are designed to address the unique challenges of the state’s housing market while providing financial support to make homeownership more attainable. Explore these opportunities and take the first step toward owning your dream home in paradise.