Rental Housing Revolving Fund
Forecasted
The Rental Housing Revolving Fund from Hawaii Housing Finance and Development Corporation provides low-interest loans to support affordable rental housing development and preservation projects in Hawaiʻi.
Funder: Hawaii Housing Finance and Development Corporation
Due Dates (Anticipated): January 2027: Letter of Intent (LOI) to Apply & Fee Payment Deadline (projected) | February 2027: Final Application Submission Deadline (projected)
Funding Amounts: Low-interest loans; award size and total funding vary by project and availability.
Summary: Provides low-interest "Equity Gap" loans to qualified owners and developers for the creation, acquisition, preservation, and rehabilitation of affordable rental housing in Hawaiʻi.
Key Information: All dates projected; program requirements and forms may change—review the annual application instructions.
Description
The Rental Housing Revolving Fund (RHRF), administered by the Hawaii Housing Finance and Development Corporation (HHFDC), offers essential low-interest "Equity Gap" loans to qualified owners and developers. The fund addresses high development costs for affordable rental housing in Hawaiʻi, ensuring projects remain financially feasible with affordable rents. As a revolving fund, repaid loans are recycled to support new affordable housing initiatives statewide. Eligible activities include new construction, acquisition, preservation, and substantial rehabilitation of affordable rental units. The RHRF is awarded competitively through the HHFDC’s annual Consolidated Application process.
