Low-Income Housing Tax Credit Program
Forecasted
The Low-Income Housing Tax Credit Program from Hawaii Housing Finance and Development Corporation supports affordable rental housing development statewide through annual allocations of federal and state tax credits.
Funder: Hawaii Housing Finance and Development Corporation
Due Dates (Anticipated): February 2027 (Annual Consolidated Application deadline, projected)
Funding Amounts: Annual state and federal LIHTC allocations; typical awards vary by project size, with federal and state credits based on eligible basis and project needs.
Summary: Provides federal and state tax credits to developers for the creation and rehabilitation of affordable rental housing in Hawaii.
Key Information: This is a forecasted opportunity—dates and requirements may shift; consult the program page for updates.
Description
The Low-Income Housing Tax Credit (LIHTC) Program, administered by the Hawaii Housing Finance and Development Corporation (HHFDC), is the primary mechanism for incentivizing the development and rehabilitation of affordable rental housing in Hawaii. Through a competitive annual cycle, HHFDC allocates both federal and state tax credits to developers of qualifying projects. These tax credits reduce project financing costs, enabling developers to offer below-market-rate rents and expand affordable housing options for low- and moderate-income households statewide. The program is governed by Section 42 of the Internal Revenue Code and the state's Qualified Allocation Plan (QAP), with compliance monitored throughout the affordability period.
