Dwelling Unit Revolving Fund (DURF)
The Dwelling Unit Revolving Fund (DURF) by the Hawaii Housing Finance and Development Corporation provides sustainable, recycled financing to accelerate affordable housing and infrastructure projects in Hawaii.
Funder: Hawaii Housing Finance and Development Corporation
Due Dates: Rolling (applications accepted year-round)
Funding Amounts: No set maximum; typical loans cover gap financing for land acquisition, development, and construction. Fees: $2,000 application fee; loan origination fee 1–2% of loan; interest rates vary by loan type.
Summary: Provides sustainable, recycled financing to accelerate affordable housing and infrastructure development across Hawaiʻi.
Key Information: DURF funds cannot be combined with the Rental Housing Revolving Fund (RHRF).
Description
The Dwelling Unit Revolving Fund (DURF) is a program of the Hawaii Housing Finance and Development Corporation (HHFDC) that provides flexible, sustainable financing to support affordable and workforce housing projects throughout the state. Established in 1970, DURF operates as a revolving fund, using repayments from prior loans to finance new projects. The fund is designed to accelerate the creation and preservation of affordable housing by offering gap financing for the acquisition of real property, development and construction of residential, commercial, and industrial properties, as well as interim and permanent loans. DURF also supports regional infrastructure projects and administrative expenses, enabling developers to respond to evolving market needs and reduce development costs.
