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 236 129,079,514
FINANCIAL MORTGAGE USA INC 233 108,967,915
CENTRAL PACIFIC HOMELOANS 204 101,837,449
AMERICAN ADVISORS GROUP 189 112,268,725
HIGH TECH LENDING INC 171 97,712,840
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 116 71,031,350
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 220 121,823,515
AMERICAN ADVISORS GROUP 188 111,863,725
HIGH TECH LENDING INC 154 89,251,400
OPEN MORTGAGE LLC 114 69,780,350
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 40 26,362,350
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%

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 1,511
2 KANEOHE 96744 384
3 WAIPAHU 96797 319
4 KAILUA 96734 315
5 PEARL CITY 96782 239
6 AIEA 96701 237
7 MILILANI 96789 236
8 EWA BEACH 96707 225
9 HILO 96720 205
10 KAILUA KONA 96740 197
11 WAIANAE 96792 144
12 KAPOLEI 96707 124
13 KIHEI 96753 116
14 WAILUKU 96793 108
15 WAHIAWA 96786 108
16 KAPAA 96746 97
17 KEAAU 96749 96
18 KAHULUI 96732 72
19 MAKAWAO 96768 69
20 LAHAINA 96761 67
21 LIHUE 96766 57
22 KAMUELA 96743 52
23 WAIALUA 96791 45
24 KAUNAKAKAI 96748 38
25 WAIKOLOA 96738 38
26 KALAHEO 96741 34
27 PAHOA 96778 31
28 HAIKU 96708 26
29 MOUNTAIN VIEW 96771 25
30 KULA 96790 25

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