The Hawaii Housing Finance and Development Corporation (HHFDC) is authorized under Chapter 201H of the Hawaii Revised Statutes (HRS) to develop or assist in the development of certain housing projects. The HHFDC allocates funds from its HTF program in all counties, including the city and county of Honolulu, for the development or preservation of affordable rental housing for households with incomes equal to or less than 30% of the Area Median Income (AMI). The applicant must never have purchased a home sponsored by the Hawaii Housing Authority, HFDC, HCDCH, HHFDC, or any county under chapters 359G, HRS, 201E, HRS, 201G, HRS, or 201H, HRS. The money earmarked for affordable housing is just the tip of the iceberg, as special funds amount to hundreds of millions that are not spent in other categories in the city and county of Honolulu.
In the case of affordable homes offered for sale at the Kapiolani Residence, for example, the buyer's total household income cannot exceed 120% of the AMI. For people who are ready to transition to stable housing or who, in the first place, want to avoid becoming homeless, it is increasingly difficult to pay rent in one place. The Honolulu Affordable Housing Fund (HAHF) provides a much-needed lifeline for those who are struggling to make ends meet. The HAHF provides grants and loans to developers and non-profit organizations that are working to create and preserve affordable housing units. The HAHF also provides assistance to individuals and families who are facing eviction or foreclosure. This assistance can include rental assistance payments, legal services, and other forms of support.
The HAHF also works with local governments and community organizations to create more affordable housing options. The HAHF is an important tool for helping people in Honolulu access safe and affordable housing. It provides a lifeline for those who are struggling to make ends meet and helps create more affordable housing options for all residents.
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