Buying your first home in Hawaii can feel overwhelming given the high cost of real estate. Fortunately, several programs exist to help first-time buyers bridge the affordability gap and achieve homeownership on Oahu.

The HHFDC Hula Mae program offers below-market interest rate mortgages through the Hawaii Housing Finance and Development Corporation. This program targets first-time buyers who meet income requirements and plan to use the property as their primary residence. The reduced interest rate can save thousands over the life of your loan.

FHA loans remain popular among first-time Hawaii buyers because they require as little as 3.5 percent down payment. While Oahu's higher home prices mean larger down payments in dollar terms, FHA loans still offer a more accessible path to homeownership compared to conventional loans that may require 10 to 20 percent down.

VA loans provide exceptional benefits for military buyers stationed in Hawaii or veterans who choose to make the islands home. With zero down payment requirements and no private mortgage insurance, VA loans are often the most affordable financing option for eligible buyers on Oahu.

USDA loans may be available for properties in qualifying rural areas of Oahu, though eligible zones are limited on the island. These loans offer zero down payment options for buyers who meet income guidelines and purchase in designated areas.

Kristy and Austin Home Group helps first-time buyers navigate every available program and connect with lenders who specialize in Hawaii financing. We ensure you explore all options so you can find the most affordable path to owning your first Oahu home.