Kahuina is participating in a new HHFDC Dwelling Unit Revolving Fund Equity Pilot Program (DEP) designed specifically for professions facing a labor shortage.
QUALIFIED PROFESSIONS
Health Care Workers • Educators • Law Enforcement Officers • Agricultural Field Workers
and HONOLULU COUNTY-SPECIFIC PROFESSIONS
Emergency Medical Technicians (EMTs) • Water Safety Officers • Construction Inspectors • Correctional Facility Staff • Victim’s Witness Counselors
Follow these steps to determine your eligibility for the DEP Program at Kahuina.
- Download a DEP Program Affidavit. Download Here.
- Submit a completed, signed and notarized DEP Program Affidavit to the Kahuina Affordable Housing Program portal with your complete HHFDC application to be considered for the DEP Program. Login to Client Portal.
- Reference the HHFDC Sales Program for steps on how to submit your application. DEP applicants will follow the same application process, but must include the DEP Program Affidavit.
To be eligible for the DEP Program units, an applicant must meet the following requirements:
- Must be an Eligible Purchaser for a Kahuina affordable unit;
- Own no other real property;
- Receive no gift funds for the purchase of the unit; and
- Work in a profession that is facing a shortage as defined by HHFDC above
Eligible buyers may select a maximum of 23 one-bedroom units and 4 two-bedroom units from the designated DEP units listed in the HHFDC Affordable Ad. Unsold units available after February 20, 2026 at 5:00 p.m. may be made available to any eligible purchaser at the original sales price.
Please don’t hesitate to contact the Sales Team if you have any questions.
DEP Pricing
Prices vary based on floor plan, square footage, floor level, etc. See table below and contact a sales team associate for further details.
1 Bedroom / 1 Bath
507 – 595 sq. ft.
23DEP Units
$604,800-$666,000 Original Sales Price Range
$90,000 (14%-15%) HHFDC Equity
$514,800-$576,000 Sales Price Range
2 Bedroom / 1.5 Bath
708 sq. ft.
4DEP Units
$692,800-$735,900 Original Sales Price Range
$70,000 (10%) HHFDC Equity
$622,800-$665,900 Sales Price Range
DEP Residence Floor Plans
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Frequently Asked Questions
Act 92, Sessions Laws of Hawaii 2023, authorized HHFDC to establish a Dwelling Unit Revolving Fund equity pilot program. HHFDC will purchase equity to contribute funds toward the sales price in specified units for qualified purchasers. Refer to the DEP Program Affidavit for detailed information.
HHFDC works with the developer to identify starter units that will be eligible for the program, subject to availability of funds. DEP funds serve as a second mortgage financing tool to help qualified purchasers become homeowners.
For Kahuina, the HHFDC equity amount is $70,000 for a designated 2-bedroom unit (~10% of the original sales price) and $90,000 for a designated 1-bedroom unit (~14%-15% of the original sales price). Use of the DEP Program funds reduces the borrower’s qualifying loan amount and offers favorable terms such as no monthly payment, zero percent interest, and 30-year term. Eligible buyers may select from a maximum of 23 one-bedroom and 4 two-bedroom designated DEP units listed in the affordable advertisement above.
Upon the earliest of the following: A) At any time after financial closing of the purchased unit at the qualified purchaser’s option; B) Upon sale, transfer of title, refinance or additional financing, non-owner occupancy, rental of any part of the unit, or failure to reoccupy the unit at the end of a temporary waiver period; or C) Prior to expiration of the 30th year from the qualified purchaser’s date of closing the purchased unit.
- Must be an Eligible Purchaser for an HHFDC affordable unit at Kahuina
- Own no other real property
- Receive no gift funds for the purchase of the unit
- Work in a profession that is facing a shortage as defined by HHFDC below
To be eligible for the DEP program units, an applicant must work in a profession that is facing a shortage as defined by HHFDC, such as:
- Healthcare workers
- Educators
- Law enforcement and correctional officers
- Agricultural field workers
- Honolulu County Specific Professions (emergency medical technicians, water safety officers, construction inspectors and victim’s witness counselors)
Attach a completed, signed, and notarized DEP Affidavit to your affordable unit application with the following: 1) DEP Pre-Qualification Letter from a Project Lender (defined in the Information Packet) and 2) Employer completed and signed Verification of Employment (VOE) form. To download the affidavit, visit our website: mykahuina.com/dep. The DEP Affidavit will be automatically disapproved if it is not notarized and the above required documents are missing or are incomplete.
After the initial 30-day offering period, applications will continue to be accepted and processed on a first-come, first-serve basis. Unsold DEP designated units available after may be made available to any eligible purchaser at the developer’s original sales price.
Yes. An Eligible Purchaser may submit a completed DEP Program Affidavit under a new affordable application number. If approved as an Eligible Buyer under the DEP Program, the Eligible Purchaser’s original affordable unit application number, will be null and void.
Yes. The Applicant and Co-buyer (if named in the DEP Affidavit) must maintain the eligibility requirements of the DEP program through the closing of the purchase and will update the affidavit approximately 180 days prior to closing the purchase and/or as requested by the HHFDC in its sole discretion (“recertification”). Refer to Section F of the DEP Affidavit for more information.
Yes, please request a separate DEP Pre-Qualification letter from a Project Lender to be eligible for the DEP Program. This letter must be submitted with the completed, signed, and notarized DEP Affidavit for the HHFDC affordable unit application.
| Example for unit: 1002 | |
| Developer’s Sales Price: | $692,800 |
| HHFDC Equity: | $70,000 |
| Buyer’s Qualifying Loan Amount: | $622,800 |
| Down Payment – 5% of the Developer’s Sales Price: | $34,640 |
| Lender Loan Amount: | $588,160 |
Please refer to Part 2 of the Information Packet for the Unit Selection Process. The Information Packet is available for download at mykahuina.com/hhfdc.
If designated DEP Program units are sold out, approved DEP applicants will be added to a waitlist managed by the Kahuina Sales Team and HHFDC. An approved DEP applicant on the waitlist will be notified if there are any cancellations or if more units are designated for the DEP Program at a later date.
The HHFDC’s Equity Amount divided by the Developer’s Original Sales Price. HHFDC’s equity is $70,000 for designated 2-bedroom units or $90,000 for designated 1-bedroom units. Refer to Exhibit A of the DEP Affidavit for a sample computation.
Refer to Exhibit A of the DEP Affidavit for a sample computation.