First-Time Homebuyer Programs
First-Time Homebuyer Programs in Hawaii (2026)
Hawaii has 2 first-time homebuyer programs to help reduce the cost of purchasing a $841,700 home. A standard 3% down payment would be $25,251.
How much could these programs actually save you?
Hawaii has 2 first-time buyer programs to choose from — the City and County of Honolulu Down Payment Loan Program alone can put up to $40,000 toward your down payment.
New to this? Quick definitions
- First-time buyer —
- despite the name, this usually just means you haven't owned a primary residence in the past 3 years. You can qualify even if you owned a home before.
- DPA (down payment assistance) —
- a grant or low-interest loan that covers some or all of your down payment, so you don't have to save the whole amount yourself.
- FHA / USDA / VA loan —
- government-backed loan types with lower down payment and credit score requirements than a typical conventional loan. FHA is open to most buyers; USDA covers eligible rural areas; VA is for veterans and active military.
- Income limit —
- the maximum household income allowed to qualify for a program, usually set relative to the area's median income. Earn above it and you're not eligible, regardless of the home price.
- Homebuyer education requirement —
- a short course (often 6-8 hours, sometimes online) many programs require you to finish before closing. It's a checklist item, not a test you can fail out of.
- PMI / MIP —
- private mortgage insurance (conventional loans) or mortgage insurance premium (FHA loans) — an extra monthly cost required when your down payment is below 20%, protecting the lender, not you.
Hawaii First-Time Buyer Programs at a Glance
2 programs currently available
Hale Kamaʻāina Mortgage Program
Hawaiʻi Housing Finance and Development Corporation (HHFDC)
Max Loan
Not published by the agency
Min Down Payment
Not published by the agency
Income limit: Household income limits by county and household size, higher in federally targeted areas. Honolulu non-targeted: $154,805 (1–2 persons) / $178,025 (3+); Hawaiʻi County $126,500 / $145,475; Maui $177,600 / $207,200; Kauaʻi $163,080 / $190,260 (limits as of June 13, 2026)
First-time requirement: First-time homebuyer (no ownership of a principal residence in the past three years, exceptions for veterans and targeted areas); U.S. citizen or resident alien; bona fide Hawaiʻi resident; 18+; homeownership counseling; owner-occupied
Formerly the Hula Mae Single Family Mortgage Program, relaunched December 2025. Purchase price limits are set by county, not by one statewide cap (June 13, 2026: Honolulu $866,346 non-targeted / $1,058,867 targeted; Hawaiʻi County $613,662 / $750,031; Maui $1,359,682 / $1,661,833; Kauaʻi $1,162,348, no targeted area). HHFDC publishes no maximum loan amount or minimum down payment. Second mortgage terms are on hold pending administrative rule amendments under Act 214 (2026). Rates are posted by HHFDC and change; read them at the program page
City and County of Honolulu Down Payment Loan Program
City and County of Honolulu, Department of Community Services
Max Assistance
$40,000
Repayment
Second mortgage at 0% interest, usable only as additional down payment; an Owner Occupancy Credit of up to $20,000 applies after the 10-year affordability period
Income limit: Household income up to 80% of area median income for Oʻahu; buyer contributes at least 5% of the sales price
First-time requirement: First-time homebuyers
A county program for Oʻahu, not a statewide HHFDC program; loans are first come, first served, subject to available funds. HHFDC's Hale Kamaʻāina second mortgage terms are pending
Mistakes first-time buyers make
- Assuming "first-time buyer" means literally never having owned — most programs only require not owning in the past 3 years, so you may already qualify.
- Leaving the homebuyer education course until the last minute; it can take days to weeks to schedule and complete, and some programs won't let you close without it.
- Missing an application deadline or income-limit recheck because the DPA program is processed separately from the mortgage itself.
- Never comparing the state program against a plain FHA or conventional loan — sometimes the state option isn't actually the cheapest path.
Pro tips
- Find a lender approved for Hawaii's specific state programs before you start shopping — not every mortgage lender participates.
- Ask whether you can combine a down payment assistance program with the first-time buyer mortgage program; many are designed to stack.
- Start the homebuyer education course as soon as you decide to buy, so it's already done by the time you're under contract.
- Double check the income limit against your household's gross income before falling in love with a program — limits are strict cutoffs, not guidelines.
Down Payment Scenarios at Hawaii's Median Price
Based on $841,700 median home price
| Loan Type | Down % | Down Amount | Loan Amount |
|---|---|---|---|
| FHA Loan | 3.5% | $29,460 | $812,240 |
| Conventional (3%) | 3% | $25,251 | $816,449 |
| Conventional (5%) | 5% | $42,085 | $799,615 |
| Conventional (20%) | 20% | $168,340 | $673,360 |
| DPA offset: City and County of Honolulu Down Payment Loan Program can cover up to $40,000 of your down payment. | |||
FHA vs. Conventional Payment Calculator
Pre-loaded with Hawaii's median price of $841,700 and current rate of 6.4%
Mortgage Estimator
Hawaii rates pre-loaded
Monthly Payment
$5,961
estimated all-in payment (PITI)
Tax and insurance estimates use national averages. For Hawaii-specific numbers, see the full breakdown below.
Excludes HOA fees. Rates and costs are estimates; actual costs vary.
Full Calculator →Hawaii Conforming Loan Limits (2026)
Loans above these limits require jumbo financing with stricter credit and reserve requirements
Standard Limit
$1,249,125
Most counties in Hawaii
High-Cost Areas Limit
$1,299,500
Designated high-cost counties
How Much Home Can You Afford in Hawaii?
Most programs require a debt-to-income ratio under 45%. Enter your income to see what you qualify for at 6.4%.
Mortgage Affordability Calculator
See what you can comfortably afford — not just what a lender will approve — at 6.4% with your income and debts.
Open Calculator →Private Mortgage Insurance (PMI) in Hawaii
Required on conventional loans with less than 20% down. The yearly rate depends on your credit score and down payment; the estimates below are priced on a published insurer rate card
At 5% Down
$440/mo
est. PMI at 0.66%/yr, 720–739 credit, National MI rate card
At 10% Down
$290/mo
est. PMI at 0.46%/yr, 720–739 credit, National MI rate card
You can ask the lender to cancel PMI once your loan balance reaches 80% of the original home value; if you don't, the Homeowners Protection Act ends it automatically when the balance is scheduled to reach 78%. FHA loans carry MIP for the life of the loan unless you put 10%+ down.
PMI Calculator
Calculate your monthly private mortgage insurance cost and when it cancels — pre-loaded with Hawaii's median home price of $841,700.
Open Calculator →How to Apply for Hawaii First-Time Buyer Programs
- 1
Check your credit and DTI
Most Hawaii programs require a minimum 620 credit score and DTI under 45%. Pull your free credit report at AnnualCreditReport.com and calculate your debt-to-income ratio before shopping lenders.
- 2
Find an approved lender
Hawaii's state programs are only available through lenders approved by Hawaiʻi Housing Finance and Development Corporation (HHFDC). Visit the program website for the lender directory — not all mortgage lenders participate.
- 3
Complete homebuyer education
Many Hawaii programs require a HUD-approved homebuyer education course before closing. These take 6-8 hours and can be completed online for $25-$75. Complete this early to avoid closing delays.
- 4
Get pre-approved
Pre-approval locks in your rate and confirms program eligibility. For Hawaii programs, bring 2 years of tax returns, 2 months of bank statements, recent pay stubs, and photo ID. The lender handles the state program paperwork.
- 5
Apply for down payment assistance (if using DPA)
Apply for the City and County of Honolulu Down Payment Loan Program at the same time as your mortgage — they must be coordinated. The City and County of Honolulu, Department of Community Services processes DPA separately from the primary lender. Second mortgage at 0% interest, usable only as additional down payment; an Owner Occupancy Credit of up to $20,000 applies after the 10-year affordability period.
- 6
Close and record
At closing, your DPA funds are applied directly to your down payment and closing costs. Budget 45-60 days from application to keys. Closings in Hawaii do not require an attorney.
FHA Loan Payment Calculator — Hawaii
Pre-loaded with Hawaii median price and current rate at 3.5% FHA minimum down. Priced as an FHA loan: the 1.75% upfront MIP is financed into the loan and the annual FHA MIP is added to the payment, with no private mortgage insurance. The rate is a starting point; enter your FHA quote.
FHA Payment Estimator
Hawaii rates pre-loaded
Monthly Payment
$6,609
estimated all-in payment (PITI + FHA MIP)
Tax and insurance estimates use national averages. For Hawaii-specific numbers, see the full breakdown below.
FHA: 1.75% upfront MIP financed into the loan; annual MIP by loan size, LTV and term per HUD Mortgagee Letter 2023-05 (annual MIP, effective March 20, 2023). No private mortgage insurance. FHA loan limits vary by county.
Excludes HOA fees. Rates and costs are estimates; actual costs vary.
Full Calculator →Down Payment Savings Calculator
How long to save for a Hawaii home at $841,700
Down Payment Planner
Hawaii median pre-loaded
Your Savings Plan
Timeline
28.1 yrs
saving $500/mo
No PMI at 20% down
20% or more avoids private mortgage insurance entirely.
Estimate only — does not include investment returns on savings.
Full Calculator →Hawaii Housing Finance Agency Limits at the Median Price
Hawaii Housing Finance and Development Corporation (HHFDC): Hale Kamaʻāina Mortgage Program (tax-exempt bond, 30-year fixed, first-time homebuyers)
Hale Kamaʻāina Mortgage Program (tax-exempt bond, 30-year fixed, first-time homebuyers) is the first-mortgage programme run by Hawaii Housing Finance and Development Corporation (HHFDC). (Hawaii Housing Finance and Development Corporation, retrieved 2026-09-14) Its purchase-price limit is $866,346 (Honolulu County, non-targeted areas (targeted $1,058,867); varies by county: Hawaii County $613,662 to Maui/Kalawao $1,359,682 non-targeted; as of June 13, 2026), so a $841,700 home is within it. (Hawaii Housing Finance and Development Corporation, retrieved 2026-09-14) The income limit is $154,805 (Honolulu County, non-targeted, 1-2 person households ($178,025 for 3+); as of June 13, 2026). (Hawaii Housing Finance and Development Corporation, retrieved 2026-09-14)
Frequently Asked Questions
- Who qualifies as a first-time homebuyer in Hawaii?
- Most Hawaii programs define first-time buyers as those who have not owned a primary residence in the past 3 years. First-time homebuyer (no ownership of a principal residence in the past three years, exceptions for veterans and targeted areas); U.S. citizen or resident alien; bona fide Hawaiʻi resident; 18+; homeownership counseling; owner-occupied. This means you can qualify even if you previously owned a home.
- What is the minimum down payment for first-time buyers in Hawaii?
- FHA loans allow 3.5% down ($29,460 on a $841,700 home). Conventional loans start at 3-5% ($25,251–$42,085).
- How much down payment assistance is available in Hawaii?
- Hawaii's City and County of Honolulu Down Payment Loan Program offers up to $40,000 in down payment assistance. Repayment terms: Second mortgage at 0% interest, usable only as additional down payment; an Owner Occupancy Credit of up to $20,000 applies after the 10-year affordability period. Income limits apply: Household income up to 80% of area median income for Oʻahu; buyer contributes at least 5% of the sales price.
- Can I use Hawaii programs with an FHA loan?
- Many Hawaii first-time buyer programs are compatible with FHA loans. FHA allows 3.5% down with credit scores as low as 580, making them attractive for buyers with limited savings. At the current Hawaii median price of $841,700, FHA's 3.5% down is $29,460. Confirm compatibility with your specific state program administrator.
- What credit score do I need for Hawaii first-time buyer programs?
- Most state mortgage programs require a minimum credit score of 620–640. FHA loans allow scores as low as 580 for 3.5% down, or 500–579 for 10% down. Higher credit scores (680+) typically unlock the best rates under Hawaii's program. Your DTI ratio (total monthly debt ÷ gross income) generally must be below 45-50%.
- How long does the Hawaii homebuyer program process take?
- State-backed programs add 2-4 weeks to a standard 30-day closing because they require income verification and approval from the state agency, not just the lender. Plan for 45-60 days from application to close. Working with a lender approved by Hawaiʻi Housing Finance and Development Corporation (HHFDC) speeds this process significantly.
- Are Hawaii first-time buyer programs available statewide?
- Formerly the Hula Mae Single Family Mortgage Program, relaunched December 2025. Purchase price limits are set by county, not by one statewide cap (June 13, 2026: Honolulu $866,346 non-targeted / $1,058,867 targeted; Hawaiʻi County $613,662 / $750,031; Maui $1,359,682 / $1,661,833; Kauaʻi $1,162,348, no targeted area). HHFDC publishes no maximum loan amount or minimum down payment. Second mortgage terms are on hold pending administrative rule amendments under Act 214 (2026). Rates are posted by HHFDC and change; read them at the program page Income and purchase price limits vary by county, so buyers in high-cost areas may face tighter eligibility. Some programs may have waitlists — apply early.
Related Calculators
FHA Loan Calculator
See your full FHA payment with MIP for a $841,700 Hawaii home
Down Payment Savings Calculator
How long to save your down payment at different monthly savings rates
DTI Calculator
Check if your debt-to-income ratio qualifies for state programs
PMI Calculator
Estimate your private mortgage insurance cost and when it drops off
Mortgage Payments by Price
Full PITI breakdown for 8 home prices in Hawaii, from $200K to $750K
What to do next
You've seen the programs, the numbers, and the process — here's where to go depending on where you're stuck.
Not sure you qualify?
Check the income limit and first-time requirement listed for each program above — most only require not owning a home in the past 3 years.
Need help with the down payment too?
See down payment assistance programs in Hawaii — many can be combined with the first-time buyer programs above.
Ready to apply?
Find an approved lender through the program's administrator website and start homebuyer education early — it can take weeks.