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 645 315,036,008
FINANCIAL FREEDOM SENIOR FUNDING CORP 453 219,214,817
WELLS FARGO 365 138,529,970
PRIMARY RESIDENTIAL MORTGAGE INC 341 162,840,498
CENTRAL PACIFIC BANK 250 140,084,464
FINANCIAL MORTGAGE USA INC 233 108,967,915
AMERICAN ADVISORS GROUP 223 137,863,875
CENTRAL PACIFIC HOMELOANS 204 101,837,449
HIGH TECH LENDING INC 181 106,143,565
SEATTLE MORTGAGE COMPANY 170 45,560,610
METLIFE BANK NATIONAL ASSOCIATION 149 77,530,400
U.S. FINANCIAL MORTGAGE CORPORATION 138 55,767,977
ONE REVERSE MORTGAGE LLC 123 59,912,745
OPEN MORTGAGE LLC 117 71,853,725
GOLDEN EMPIRE MORTGAGE INC 114 51,000,020
LIBERTYSTREET FINANCIAL GROUP 91 42,838,042
BANK OF HAWAII 84 40,192,640
JAMES B NUTTER AND COMPANY 80 37,788,095
ARCS MORTGAGE INC 75 15,706,186
COUNTRYWIDE BANK FSB 74 34,374,670

Since 2012

Lender Loans Total Principal Limit
CENTRAL PACIFIC BANK 234 132,828,465
AMERICAN ADVISORS GROUP 222 137,458,875
HIGH TECH LENDING INC 164 97,682,125
OPEN MORTGAGE LLC 115 70,602,725
HAWAII MORTGAGE RESOURCES LLC 92 48,839,500
ONE REVERSE MORTGAGE LLC 70 35,717,125
MAKANA FINANCIAL INC. 60 34,662,849
FINANCE OF AMERICA REVERSE LLC 50 33,753,750
NEXT LLC DBA HARBOR FINANCIAL GROUP 32 18,062,450
LIVE WELL FINANCIAL INC 30 17,042,250

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.

Current Rates

Date Fixed Rate Adjustable Rate
01/01/19 4.56% 4.85%
02/01/19 4.68% 5.07%
03/01/19 4.50% 4.68%
04/01/19 5.06% 4.72%
05/01/19 NA 4.75%
06/01/19 NA 4.52%
07/01/19 NA 4.26%
08/01/19 4.25% 3.97%
09/01/19 NA 4.14%
10/01/19 NA 3.95%
11/01/19 NA 3.79%
12/01/19 NA 4.03%
01/01/20 NA 3.81%
02/01/20 NA 4.00%
03/01/20 NA 3.80%
04/01/20 NA 3.23%
05/01/20 NA 3.09%
06/01/20 NA 3.02%
07/01/20 NA 3.00%
08/01/20 NA 2.96%
09/01/20 3.06% 2.76%
10/01/20 3.25% 2.93%
11/01/20 3.02% 2.82%
12/01/20 3.27% 2.71%
01/01/21 3.25% 2.65%
02/01/21 3.31% 2.50%
03/01/21 3.06% 2.48%
04/01/21 3.18% 2.39%
05/01/21 3.09% 2.09%
06/01/21 3.43% 2.26%
07/01/21 3.56% 1.98%
08/01/21 3.36% 2.08%
09/01/21 3.06% 2.58%
10/01/21 NA 2.21%
11/01/21 NA 1.95%
12/01/21 3.45% 2.16%
01/01/22 3.56% 2.26%
02/01/22 2.99% 2.38%
03/01/22 3.06% 2.62%
05/01/22 NA 3.52%
04/01/22 3.06% 2.93%
06/01/22 3.18% 4.02%
07/01/22 NA 4.18%

Historic Rates

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%
05/01/17 4.50% 4.26%
06/01/17 5.05% 4.35%
07/01/17 5.06% 4.11%
08/01/17 5.02% 4.33%
09/01/17 4.50% 4.36%
10/01/17 4.75% 4.47%
11/01/17 5.06% 4.37%
12/01/17 NA 4.42%
01/01/18 5.06% 4.60%
02/01/18 4.78% 4.41%
03/01/18 5.02% 4.50%
04/01/18 5.06% 4.84%
05/01/18 5.06% 4.81%
06/01/18 4.93% 4.68%
07/01/18 4.31% 4.67%
08/01/18 NA 4.71%
09/01/18 4.90% 4.77%
10/01/18 4.75% 4.85%
11/01/18 4.68% 4.60%
12/01/18 NA 4.94%

Cities in Hawaii with the Most HECM Loans

Rank City Zip Total
1 HONOLULU 96825 1,539
2 KANEOHE 96744 391
3 KAILUA 96734 325
4 WAIPAHU 96797 322
5 PEARL CITY 96782 244
6 AIEA 96701 242
7 MILILANI 96789 242
8 EWA BEACH 96707 233
9 HILO 96720 210
10 KAILUA KONA 96740 210
11 WAIANAE 96792 147
12 KAPOLEI 96707 125
13 KIHEI 96753 121
14 WAILUKU 96793 112
15 WAHIAWA 96786 112
16 KAPAA 96746 100
17 KEAAU 96749 98
18 KAHULUI 96732 74
19 LAHAINA 96761 71
20 MAKAWAO 96768 71
21 LIHUE 96766 58
22 KAMUELA 96743 54
23 WAIALUA 96791 45
24 WAIKOLOA 96738 40
25 KAUNAKAKAI 96748 38
26 KALAHEO 96741 34
27 PAHOA 96778 34
28 KULA 96790 27
29 HAIKU 96708 27
30 HONOKAA 96727 26

HUD Offices

Honolulu Field Office

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

Hours: Monday-Friday, 8am-4pm

Phone: (808) 457-4662
Email: [email protected]
Office fax: (808) 457-4694

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