Department of Housing and Land Management

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Department of Housing and Land Management

Ka ʻOihana Hoʻolālā Kūkulu Hale A Me Ka Hoʻokele ʻĀina

Housing Finance Division

The Finance Division facilitates financing to support the development of affordable housing and mixed-use housing developments. The division administers the City’s Multifamily Revenue Bond program, oversees the allocation of the City’s Affordable Housing Fund, coordinates the use of federal and state grants to support the delivery of housing  and structures creative financing solutions to close financing gaps and maximize leverage on public investment.

Funding Solutions

The Finance Division plays a critical role in turning housing plans into reality by managing a range of funding sources and financing tools. These programs help reduce development costs, attract private investment, and ensure long-term affordability for Oʻahu’s residents. From the Affordable Housing Fund to Private Activity Bonds, each tool is designed to support the creation and preservation of housing our communities can afford.

Click below to explore each program and learn how these tools are used to bring affordable housing projects to life.

Multi-Family Rental Housing Program

Private Activity Bonds

Used in conjunction with LIHTC credits to reduce the senior debt required to finance affordable projects.

AHF

Affordable Housing Fund

Must provide affordable rental housing for households at 60% AMI or below, for at least 60 years.

CIP

Capital Improvement

In partnership with the Honolulu City Council, we support the acquisition and development of affordable housing with mixed uses.

Projects We've Helped Bring to Life

DHLM’s financing solutions are already delivering results across Oʻahu. Through tools like the Affordable Housing Fund and Private Activity Bonds, we’ve helped make new affordable housing developments possible — from rental communities for families and seniors to mixed-use projects that support neighborhood revitalization. These projects are now open and serving residents, demonstrating how creative public financing can help turn plans into real homes and thriving communities.

Hover over each project to learn more about its location, features, and impact to the community.

Maunakea Tower is a 32-story high-rise located at 1245 Maunakea St. in the heart of Chinatown. The project involves the rehabilitation and long-term preservation of 378 one- and two-bedroom units reserved for households earning at or below 60% AMI. To support this effort, the City awarded $105 million in Private Activity Bonds, helping to maintain critically needed affordable housing in Honolulu’s urban core.
Jack Hall is a 144-unit affordable housing community in Waipahu made up of 23 two-story residential buildings. With $30 million in Private Activity Bonds from the City, the project supports the rehabilitation and preservation of one- and two-bedroom units for households earning up to 60% AMI, along with dedicated community space.
Kūhiō Park Terrace Redevelopment is a major affordable housing project located on HPHA land in Kalihi. Supported by $93 million in Private Activity Bonds from the City, the project will replace 174 existing units with 304 new homes across three mid-rise buildings ranging from six to eight stories. Demolition and redevelopment are slated to begin in 2025.
Kaleimaʻo Village is a new 127-unit affordable rental project on City land in West Loch, ʻEwa Beach. Developed through a long-term ground lease with a private partner, the project received $30 million in Private Activity Bonds. It will include seven three-story buildings and serve households earning up to 60% AMI. With financing nearing completion, construction is expected to begin later this year and finish by the end of 2026.
Hālawa View II is a 302-unit affordable housing project near Pearl Harbor, supported by a $5 million investment from the City’s Affordable Housing Fund. It will serve households earning up to 60% AMI, with five units reserved for residents needing supportive services. The project broke ground in July 2023 and is expected to be completed by summer 2025.
Hocking Hale is a 40-unit affordable rental project that opened in late 2024 in the heart of Honolulu’s Chinatown Historic District. Supported by $3.9 million from the City’s Affordable Housing Fund, the project delivers deeply affordable homes while supporting the broader revitalization of the Downtown-Chinatown area.
Located at 99-385 Pohai Place and developed in partnership with EAH Housing, Aloha Ia Halewiliko will provide 139-units to people ages 62 and older whose incomes are between 30 to 60% of the Area Median Income. Set on the site of a former sugar mill, this project is scheduled to be completed in mid-2025.

Solicitation Opportunities

The Finance Division periodically issues Requests for Proposals (RFPs), Notices of Funding Availability (NOFAs), and other solicitations related to housing finance programs. 

Contact Us

  • (808) 768-4277
  • Send An Email
  • 650 South King Street, 3rd Floor Honolulu, HI 96813
  • Monday to Friday, 7:45 a.m. to 4:30 p.m.
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