HHFDC News Release: HHFDC offers repurchased units for sale

Posted on Mar 14, 2022 in Latest Department News, Newsroom

HONOLULU – The Hawaii Housing Finance and Development Corp. is accepting applications from first-time homebuyers interested in buying a repurchased condominium unit through its Affordable Resale Program.
The current offering consists of six HHFDC-owned condominium units in several popular projects, including the Kapiolani Residence tower near Ala Moana Center. Other available units are in the Holomua on Kalakaua Avenue and Rycroft Terrace in the Kakaako-Ala Moana neighborhood.
Other units may be offered under the program as they become available.
An eligible applicant must be a first-time homebuyer who does not own any unit anywhere in the world, and must be a U.S. citizen or permanent resident alien, as well as be a Hawaii resident. The applicant must also agree to reside in the unit through the time of ownership. Additionally, an applicant must meet area median income requirements and agree to abide by HHFDC’s 10-year buyback and shared appreciate equity clauses.
Visit Hawaii Housing Finance & Development Corporation (https://dbedt.hawaii.gov/hhfdc/) for more information including how to apply. Applications are being accepted online at this time through April 11, 2022, 4:00 p.m. Email questions to [email protected]

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Contact: Gordon Pang, [email protected] or 808-341-4069