Hawaii Reverse Mortgage Rules

This page is designed to help seniors in the state of Hawaii locate and utilize online housing resources. Information includes:

  • Relevant resource mortgage data
  • Local HUD offices

Want to learn more? Click here to get free information about a reverse mortgage!

The Biggest Reverse Mortgage Lenders in Hawaii

The home equity for many seniors is around 30–40 % of their net worth. Despite this wealth, many cannot afford to make fundamental repairs to their home, repairs which would enable aging in place. If you have significant equity in your home and you and your spouse are at least 62 years old, you can get a reverse mortgage to turn your equity into cash and, if you still have an existing mortgage, eliminate those monthly payments. The two main qualifying factors are age and home equity.

There are many positive aspects to obtaining a reverse mortgage, so long as it is used correctly as a financial tool. A reverse mortgage is best used for necessary, day-to-day expenses or unexpected, high costs of care or debt. Often, reverse mortgages are considered as an alternative to a home equity line of credit. The proceeds can be used for a variety of things, including supplementing monthly income, paying for home improvements and modifications, and more recreational uses such as traveling.

You may not be aware that a reverse mortgage can also be used to purchase a home through the HECM for Purchase program. This program combines a new home purchase with a HECM loan in one transaction. This can help senior citizens relocate from older homes to a condo or loft that requires less upkeep, also known as downsizing, or to move into a home that better suits the senior’s physical needs.

Want to learn more? Click here to get free information about a reverse mortgage!

All Time

Lender Loans Total Principal Limit
HAWAII MORTGAGE RESOURCES LLC 645 315036008
FINANCIAL FREEDOM SENIOR FUNDING CORP 453 219214817
WELLS FARGO 365 138529970
PRIMARY RESIDENTIAL MORTGAGE INC 338 160888548
FINANCIAL MORTGAGE USA INC 233 108967915
CENTRAL PACIFIC HOMELOANS 204 101837449
SEATTLE MORTGAGE COMPANY 170 45560610
CENTRAL PACIFIC BANK 158 84236739
METLIFE BANK NATIONAL ASSOCIATION 149 77530400
U.S. FINANCIAL MORTGAGE CORPORATION 138 55767977
HIGH TECH LENDING INC 121 66766290
GOLDEN EMPIRE MORTGAGE INC 114 51000020
ONE REVERSE MORTGAGE LLC 100 47446570
LIBERTYSTREET FINANCIAL GROUP 91 42838042
BANK OF HAWAII 84 40192640
JAMES B NUTTER AND COMPANY 80 37788095
ARCS MORTGAGE INC 75 15706186
COUNTRYWIDE BANK FSB 74 34374670
STAY IN HOME MORTGAGE INC 72 35616090
BANK OF AMERICA 66 31334500

Since 2012

Lender Loans Total Principal Limit
CENTRAL PACIFIC BANK 142 76980740
HIGH TECH LENDING INC 104 58304850
HAWAII MORTGAGE RESOURCES LLC 92 48839500
OPEN MORTGAGE LLC 49 26957700
ONE REVERSE MORTGAGE LLC 47 23250950
AMERICAN ADVISORS GROUP 46 24510000
MAKANA FINANCIAL INC. 34 17140499
NEXT LLC DBA HARBOR FINANCIAL GROUP 29 16154000
GENERATION MORTGAGE COMPANY 24 10469000
REVERSE MORTGAGE SOLUTIONS INC 23 12224800

Hawaii Reverse Mortgage Rates

Average monthly interest rates calculated from reports released by HUD. NA is used in months when no fixed rate HECM loan was originated in Hawaii.

Date Fixed Rate Adjustable Rate
01/01/14 4.46% 2.45%
02/01/14 5.06% 2.49%
03/01/14 5.04% 2.60%
04/01/14 NA% 2.34%
05/01/14 4.87% 2.45%
06/01/14 4.96% 2.40%
07/01/14 5.06% 2.51%
08/01/14 5.04% 2.45%
09/01/14 4.92% 2.61%
10/01/14 4.90% 2.67%
11/01/14 NA% 2.60%
12/01/14 5.06% 2.89%
01/01/15 4.71% 2.60%
02/01/15 5.06% 2.78%
03/01/15 4.16% 2.74%
04/01/15 5.06% 3.04%
05/01/15 NA 2.78%
06/01/15 5.06% 2.83%
07/01/15 4.78% 3.12%
08/01/15 4.65% 3.02%
09/01/15 NA 3.17%
10/01/15 4.78% 3.02%
11/01/15 5.06% 3.15%
12/01/15 4.96% 3.31%
01/01/16 4.75% 3.21%
02/01/16 5.06% 3.31%
03/01/16 4.25% 3.53%
04/01/16 4.95% 3.47%
05/01/16 4.87% 3.88%
06/01/16 4.79% 3.89%
07/01/16 5.04% 3.79%
08/01/16 4.62% 3.90%
09/01/16 5.06% 3.85%
10/01/16 4.50% 4.31%
11/01/16 5.06% 4.47%
12/01/16 4.99% 4.46%
01/01/17 5.06% 4.70%
02/01/17 4.87% 4.34%
03/01/17 4.90% 4.55%
04/01/17 4.74% 4.29%

Cities in Hawaii with the Most HECM Loans

Rank City Zip Total
1 HONOLULU 96825 1378
2 KANEOHE 96744 352
3 KAILUA 96734 287
4 WAIPAHU 96797 286
5 PEARL CITY 96782 217
6 MILILANI 96789 216
7 AIEA 96701 211
8 EWA BEACH 96707 192
9 HILO 96720 183
10 KAILUA KONA 96740 148
11 WAIANAE 96792 130
12 KAPOLEI 96707 113
13 WAHIAWA 96786 101
14 WAILUKU 96793 90
15 KIHEI 96753 86
16 KAPAA 96746 81
17 KEAAU 96749 76
18 LAHAINA 96761 63
19 KAHULUI 96732 62
20 MAKAWAO 96768 61
21 LIHUE 96766 44
22 WAIALUA 96791 38
23 KAMUELA 96743 37
24 KAUNAKAKAI 96748 35
25 KALAHEO 96741 30
26 PAHOA 96778 28
27 WAIKOLOA 96738 27
28 MOUNTAIN VIEW 96771 23
29 HAUULA 96717 20
30 WAIMANALO 96795 20

HUD Offices

Honolulu Field Office

1132 Bishop Street, Suite 1400
Honolulu, HI 96813-4918

Hours: Monday-Friday, 8am-4pm

Phone: (808) 457-4662
Email: HI_Webmanager@hud.gov
Office fax: (808) 457-4694

Serving Hawaii, American Samoa, the Commonwealth of the Northern Mariana Islands and Guam