DHHL: Receives Approval for Pilot Down Payment Program

Real Estate
Dhhl

Department of Hawaiian Home Lands issued the following announcement on Dec. 22.

The Hawaiian Homes Commission (HHC) has approved a pilot loan program  and an associated budget for an initiative that will provide applicants  on the Department of Hawaiian Home Lands (DHHL) Waiting List with down  payment assistance for a fee-simple residential purchase off Hawaiian  Home Lands on Oʻahu.

In a unanimous vote on Monday, December 21, 2020, the Commission gave  the project the go-ahead and approved a $1.5 million Fiscal Year 2021  budget for the initiative. The budget includes $1,000,000 for direct  loan financing and $500,000 for initial project costs. Financing of the  pilot down payment program is through the Native Hawaiian Rehabilitation  Fund, pursuant to Section 213 (i), Hawaiian Homes Commission Act, 1921,  as amended.

Participants in the program would receive down payment assistance for  a fee-simple home and, in return, remove their names from the DHHL  Waiting List. Should the fee-simple property be sold, the Department  would require first right of refusal and require that the down payment  offering be returned. It is anticipated that the applicant will have to  provide a portion of the down payment but details on the exact  qualifications are forthcoming.

“We are challenged with addressing a Waiting List that needs  solutions today,” said HHC Chair William J. Ailā, Jr. “This effort  aligns with the Department’s efforts to diversify DHHL’s offerings with a  mix of housing opportunities that reflect the varied needs of our  beneficiaries. In addition to addressing the list in the short-term, the  program will also address our land shortage on Oʻahu and is anticipated  to grow the Hawaiian Home Lands Trust one property at a time.”

Monday’s Commission approval provides consent to the Department to  secure a vendor to administer the project. The details of the program  will be reviewed and approved by HHC ahead of implementation.

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About the Department of Hawaiian Home Lands:

The Department of Hawaiian Home Lands carries out Prince Jonah Kūhiō  Kalanianaʻole’s vision of rehabilitating native Hawaiians by returning  them to the land. Established by U.S. Congress in 1921, with the passage  of the Hawaiian Homes Commission Act, the Hawaiian homesteading program  run by DHHL includes management of over 200,000 acres of land statewide  with the specific purpose of developing and delivering homesteading.

Original source can be found here.