The spirit of Hawaiʻi thrives on community, yet for many kamaʻāina, the dream of owning a home feels out of reach. The latest ALICE® (Asset Limited, Income Constrained, Employed) Report published by Aloha United Way reveals a concerning trend: from 2018 to 2022, poverty rates in Hawaiʻi surged, with nearly half the population facing financial strain. With the median home price on Oʻahu soaring to $1.1 million, many local families are being priced out of Hawaiʻi.
In the wake of recent tragedies like the Maui fires, which displaced thousands, the urgency for accessible housing solutions has never been more pressing. Shockingly, more Native Hawaiians now reside outside the islands than within—an alarming testament to the housing crisis gripping the state.
Unique First-Time Homebuyer Program
As a community bank supporting Hawaiʻi’s residents, businesses and community for nearly 100 years, American Savings Bank (ASB) is committed to helping solve Hawaiʻi’s affordable housing crisis. ASB’s “This is HOME” program offers first-of-its-kind affordable financing designed to help hardworking kamaaina buy a home in Hawaiʻi, so they can stay in Hawaiʻi.
Program Benefits:
- 3% low down payment
- Expanded area median income range
- Lower monthly payments
- Expanded financing eligibility
Take the first step towards securing your dream home in Hawaiʻi with “This is HOME”, the only first-time homebuyer program in Hawaiʻi to offer these unique benefits and more.