Hawaii's condo repair loan program launched in May and is now on hold
Hawaii's condo repair loan program launched in May and is now on hold
2026-09-10 · Hawaii · Regulation · Reported — unconfirmed
The state’s only lending route for condominium associations that banks have already refused opened on May 11, 2026 — and as of September 10, 2026 its own program page says the program is currently on hold. The reason for the hold is not stated publicly, and we found no agency release or press coverage explaining it.1
What was launched
The Condominium Association Loan Program sits with the Hawaii Green Infrastructure Authority, attached to DBEDT, under authority of Act 296 (2025) and administrative rules at HAR ch. 15-135. The Governor approved the rules on May 7, 2026 and the program launched four days later.23
The terms
- 7.0% per annum, fixed, for the life of the loan.
- Term and amortization up to 20 years — shorter on leasehold, depending on remaining lease term.
- Up to 100% of total project cost, including soft costs.
- Loan fee 50 basis points; no prepayment penalty; interest-only permitted during construction.
- Funded by a $20 million reimbursable general obligation bond, first-come first-served, with priority to shovel-ready projects that improve insurability on completion.
The eligibility gate
An association must be registered and in good standing, must commit to obtaining full replacement property and hurricane insurance after repairs, and — the condition boards keep missing — must have received at least one adverse action letter from a financial institution declining a loan for maintenance or insurance-coverage issues.
You have to be turned down by a bank first. A board that assumes it is ineligible without applying never becomes eligible.
What the money is for
Fire sprinklers and other fire-safety systems; pipe repair or replacement; roof repair or replacement; spalling repair that may lead to structural issues; and other risk-reducing work HGIA approves.
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Related Hawaii HOA Topics
- Hawaii Green Infrastructure Authority, Condominium Association Loan Program (page carries the hold notice; read September 10, 2026) ↩
- Condominium Loan Program Guide, July 2026 (rate, term, fee, security) ↩
- DBEDT/HGIA news release nr-26-28, May 11, 2026 ↩
- Approved administrative rules, HAR ch. 15-135, Financing for Condominiums ↩
- DCCA Insurance Division, Condo Insurance FAQs (C-PACER and deferred maintenance) ↩
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