New Incentives Further Lower Costs for First-Time Homebuyers
Hawaii Housing Finance & Development Corporation
For Immediate Release: February 18, 2026
HONOLULU—Up to $3,000 more in funding is now available to each of the first 35 homebuyers in the Hale Kamaʻāina Mortgage Program, a state initiative aimed at offering first-time homebuyers below-market rate mortgages.
Hale Kamaaina is a new program established by the Hawaii Housing Finance and Development Corporation (HHFDC), aimed at those seeking to become homeowners by lowering their cost of entry.
Under new incentives approved by the HHFDC Board last week, the first 35 homebuyers who close their loans will receive up to $3,000 for closing costs, pre-paid expenses and reserves.
Hale Kamaaina’s biggest draw is that it offers first-time Hawai’i home purchasers 30-year, fixed-rate loans at significantly lower interest rates than market-rate loans. Mortgage rates could be as low as 5.40%, include down payment assistance and provide low upfront costs.
The program is financed through tax-exempt mortgage revenue bond proceeds. HHFDC Executive Director Dean Minakami said the corporation recognizes the barriers faced by first-time homebuyers in Hawaii. “We are pleased to offer this program to help kamaʻāina families purchase their first homes.”
To be eligible for Hale Kamaaina, the hopeful homebuyer must be a U.S. citizen or resident alien who lives in Hawaii and must not have owned a primary residence in the past three years. Visit our website for a full list of eligibility requirements, https://dbedt.hawaii.gov/hhfdc/hk-mortgage-program/.
Interested first-time homebuyers should apply for first-mortgage loans through one of about a dozen participating lenders.
For a full list of participating lenders, eligibility requirements and other details about the program, visit the HHFDC website at https://dbedt.hawaii.gov/hhfdc/hk-mortgage-program/.
About the Hawaii Housing Finance and Development Corporation
The mission of the Hawaii Housing Finance and Development Corporation (HHFDC) is to advance housing opportunities for the residents of Hawaii.
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MEDIA CONTACT:
Danielle Guthrie
Hale Kamaaina Mortgage Team (general program questions and support)
Hawaii Housing Finance and Development Corporation
Telephone: 808-587-0578
Email: [email protected]
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