State assistance available for first-time homeowners

HONOLULU (HawaiiNewsNow) – The Honolulu Board of Realtors said single-family home sales increased by 8.5% compared to last May.

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However, the median price for a home remains steady at around $1.5 million, local residents and families are seeking assistance.

One venue local first-time homeowners can take advantage of is the Hale Kamaaina Mortgage Program, which offers below-market mortgage rates and more.

Something three homeowners took advantage of for the first time this month.

“It’s really amazing to see, to hear the stories of those families. One was a family, a mail carrier in Mililani with their adult son,” said Aaron Tangonan, president of the Honolulu Board of Realtors.

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“We hear oftentimes about the unobtainability and the unaffordability of Hawaii homes. But this, this is proof that it can happen, and people start their first home journey in different price points below the million-dollar price point,” he added.

You can learn more about the Hale Kamaaina Mortgage Program online at the Hawaii Housing Finance and Development Corporation’s website.

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