Hawaii First-Time Home Buyer Programs and Assistance

Hawaii first-time buyer programs open now

Hawaiʻi Housing Finance & Development Corporation (HHFDC) is the state's housing finance agency (homebuyer programs page). It runs 1 down payment or closing-cost assistance program alongside 1 below-market first mortgage. Has not owned and occupied a property as principal residence, including spouse, for at least 3 years from the date of application; exceptions may apply for Veterans or purchases in federally designated targeted areas

• Hale Kamaʻāina Mortgage Program - Second Mortgage Loan (Down Payment Assistance). Terms: Simple interest at 1% per year, no periodic payments required; due in full upon Mortgage Loan maturity, sale, refinance, or other qualifying event; prepayable any time without penalty. Borrower must contribute a minimum of 5% of the sales price to receive this second mortgage. Purchase price limit: $613,662 (Hawaii County, non-targeted) to $1,661,833 (Kalawao/Maui County, targeted area) Must pair with: A Hale Kamaʻāina first mortgage loan from a participating lender Homebuyer education: required Where: statewide (Hawaii, Honolulu, Kalawao, Kauai, Maui counties each have their own income/price limits) Program page
• Hale Kamaʻāina Mortgage Program - First Mortgage Loan. Terms: Fixed rate, 30-year term; targeted to be at least 50 basis points below market, financed through tax-exempt bond proceeds so the actual rate depends on the bond rate at time of sale. Current quoted rates on HHFDC's site (read 2026-09-11): 5.62% government-insured loans, 5.87% conventional loans. Purchase price limit: Same county-by-county limits as the Second Mortgage Loan above Homebuyer education: required Program page

How little you can put down

You do not need 20% down. Conventional loans go as low as 3% (through programs like Fannie Mae HomeReady and Freddie Mac Home Possible), FHA loans start at 3.5%, and VA and USDA loans can require nothing down. On Hawaii's median-priced home (about $773,400), 3% down is roughly $23,202. Putting 20% down lets you skip private mortgage insurance, but most first-time buyers put down far less.

Who counts as a first-time buyer

For most programs, a first-time buyer is anyone who has not owned a primary residence in the last three years, so many repeat buyers qualify again. Hawaii programs often add income and purchase-price limits, which is another reason to confirm the details with Hawaii Housing Finance and Development Corporation.

Stack a buyer rebate on top in Hawaii

Down-payment assistance and a buyer commission rebate are two different things, and in Hawaii you can use both. Assistance from Hawaii Housing Finance and Development Corporation helps with your down payment and closing costs; a buyer rebate returns about 2% of the price to you at closing (roughly $15,468 on a median-priced home), which can cover much of your closing bill.

See Hawaii buyer rebates →   See Hawaii closing costs →

Official sources

• Hawaiʻi Housing Finance & Development Corporation (HHFDC)
• HHFDC - Hale Kamaʻāina Mortgage Program FAQ and Eligibility/Income/Purchase Price Requirements pages
• HHFDC - Hale Kamaʻāina Mortgage Program Eligibility, Income and Purchase Price Requirements
• Consumer Financial Protection Bureau: down payment options and how to prepare

Hawaii program details last verified against Hawaii Housing Finance and Development Corporation on September 11, 2026.