AFFORDABLE & RESERVED HOUSING

Affordable housing is also known as low-income housing, reserved housing, and workforce housing. These homes are priced below the market value, available only to qualified Hawaii residents, and comes with occupancy and selling restrictions.

With Hawaii’s increasing demand in housing and low supply, affordable housing for Hawaii residents are becoming highly sought after. There are currently two state agencies that oversee the affordable homes that are offered for sale, Hawaii Housing Finance and Development Corporation (HHFDC) and Hawaii Community Development Association (HCDA).

These two agencies play a major role in how the affordable units are sold to qualifying buyers and creates what restrictions are given to the new buyers.

Do I qualify?

These are general qualifications that HHFDC & HCDA look at. These may change project by project.

1. US Citizen or permanent resident alien

2. At least 18 years of age

3. Resident of the State of Hawaii who currently resides in the State of Hawaii

4. Shall physically reside in the unit purchased (for 2, 5, or 10 years depending on the restriction requirement)

5. Does not own a majority interest in a fee simple or lease hold property anywhere in the world.

6. Has sufficient gross income to qualify for the loan to finance the purchase

Upcoming projects:

Ulana, Ward Village
Alia Kaka'ako
Kuilei Place
Modea
Ililani

Let's start the process

I'm happy to walk you through the various state agencies' respective requirements.

Contact me for more information:

paulaj@betterhawaii.com

(808) 777-9555