HHFDC SAE / Buyback Information

This page serves as a centralized resource for homeowners and stakeholders to navigate the requirements of HHFDC-restricted affordable housing properties.

Visitors can access essential documentation, including a compliance rules, a list of “Fee Simple-Only” properties, and a side-by-side comparison of the Shared Appreciation Equity (SAE) and Buyback programs.

Additionally, the page provides a dedicated information request form that allows users to submit specific inquiries directly to HHFDC for further guidance and clarification regarding their property obligations.

Click on the image to download a PDF version

Stay HHFDC Compliant

How to Stay HHFDC Compliant

For properties subject to Buyback and Shared Appreciation Equity (SAE) programs.

Mandatory Requirement: HHFDC’s affordable programs mandate owner occupancy for as long as the HHFDC program(s) are in effect.

Actions Requiring HHFDC Prior Written Consent

You must obtain prior written consent from HHFDC before proceeding with the following actions:

  • Refinancing or HELOC: HHFDC recommends that the lender submits the request along with the borrower’s signed authorization.
  • Placing Property in a Trust: Properties placed into a trust without prior consent will require correction by taking the property out of the trust.
  • Adding/Removing from Title: Adding someone to the title requires approval to ensure they meet HHFDC qualifications.
  • Selling the Property: Sales may be subject to HHFDC requirements. Send a written request for confirmation before proceeding.
  • SAE Payoff: Owners, agents, or escrow agents may submit a request for information with signed authorization or a purchase contract.

How to Submit a Request

You may submit your request using the official HHFDC Request Form or your own paper.

  • Mail: HHFDC – ATTN: RES, 677 Queen St #300, Honolulu HI 96813
  • Fax: (808) 587-0600
  • Email: [email protected]

You can DOWNLOAD the flyer on Staying Compliant with a HHFDC SAE/Buyback property

HHFDC’s Fee Simple-Only Property List

HHFDC or its predecessor agencies have developed or partnered with a private developer to building the following affordable housing projects.

Island Name of Subdivision City Tenure HHFDC Program(s) Application Type of Development Year Built
Hawaii Hawaii Community College Hilo Fee Simple SAE Single Family 1995
Hawaii Kahei Houselots I Kapaau Fee Simple DSP Single Family 1980
Hawaii Kawailani Houselots I & II Hilo Fee Simple Deferred Sales Price (DSP) Single Family 1983
Hawaii Pi’ihonua Meadows Hilo Fee Simple SAE Single Family 1992
Kauai Cliffside at Hanapepe Hanapepe Fee Simple Shared Appreciation Equity (SAE) Single Family 1990
Kauai Hanamaulu Lihue Fee Simple SAE Single Family 1986
Kauai Kapa’a Meadows III Kapaa Fee Simple DSP Single Family 1985
Maui Napilihau Lahaina Fee Simple DSP Single Family 1974
Maui Waiehu Terrace A Wailuku Fee Simple SAE Single Family 1991
Maui Waiehu Terrace A – Self Help Wailuku Fee Simple SAE Single Family 1992
Maui Waiehu Terrace B Wailuku Fee Simple SAE Single Family 1991
Maui Waiehu Terrace C Wailuku Fee Simple SAE Single Family 1993
Maui Waiehu Terrace C – Self Help Wailuku Fee Simple SAE Single Family 1992
Oahu Aeloa Kapolei Fee Simple SAE Single Family 1995
Oahu Aeloa Terrace Kapolei Fee Simple SAE Townhouse 1996-97
Oahu Green Homes at Lualualei Waianae Fee Simple Buyback* and SAE Single Family 2013
Oahu Hokulele Kaneohe Fee Simple SAE Single Family 1987
Oahu Holani at Makaha Makaha Fee Simple SAE Single Family 1996
Oahu Holani at Makaha Waianae Fee Simple DSP Single Family 1996
Oahu Holomua Honolulu Fee Simple Buyback* and SAE Condo 2013
Oahu Hui Koolau Kaneohe Fee Simple DSP Single Family 1980
Oahu Iwalani Kapolei Fee Simple SAE Single Family 1996
Oahu Kapiolani Residence Honolulu Fee Simple Buyback* and SAE Condo 2018
Oahu Kealakai at Kapolei Kapolei Fee Simple Buyback* and SAE Townhouse 2009
Oahu Kekuilani Palms Kapolei Fee Simple SAE Single Family 1994
Oahu Kekuilani Villas Kapolei Fee Simple SAE Townhouse 1994
Oahu Kulalani Village Kapolei Fee Simple SAE Townhouse 1994
Oahu Kumu Iki Kapolei Fee Simple SAE Single Family 1990
Oahu Leilehua Village Wahiawa Fee Simple SAE Single Family 1991
Oahu Ma’ili III Self Help Project Waianae Fee Simple Buyback* and SAE Single Family 2013
Oahu Makali’i at Kapolei Kapolei Fee Simple Buyback* and SAE Single Family 2009
Oahu Makali’i II at Kapolei Kapolei Fee Simple Buyback* and SAE Single Family 2012
Oahu Malanai Kapolei Fee Simple SAE Single Family 1992
Oahu Malanai Iki Kapolei Fee Simple SAE Townhouse 1993
Oahu Nani Pua Gardens Kaneohe Fee Simple SAE Single Family 1995
Oahu Nohona at Kapolei Kapolei Fee Simple Buyback* Townhouse 2008
Oahu Nohona 2 at Kapolei Kapolei Fee Simple Buyback* and SAE Townhouse 2010
Oahu Nohona 3 at Kapolei Kapolei Fee Simple Buyback* and SAE Townhouse 2012
Oahu Pae Ko Gardens Kapolei Fee Simple SAE Townhouse 1995
Oahu Penaki’i II Waipahu Fee Simple DSP Townhouse 1981
Oahu Plantation Town Apartments Waipahu Fee Simple Buyback* & SAE Condo 2008
Oahu Poka’i Bay Self Help Project Waianae Fee Simple Buyback* and SAE Single Family 2018
Oahu Rycroft Terrace Honolulu Fee Simple Buyback and SAE Condo 2014
Oahu The Leilehua Honolulu Fee Simple DSP Condo 1982

*Buyback is 10 years from date of recorded deed. Refer to Owner’s deed to determine if property is still encumbered by the Buyback program.

HHFDC’s Fee Simple-Only Property List (PDF)

HHFDC Affordable Program Restrictions Side-By-Side
BUYBACK PROGRAM SAE PROGRAM
  • The Buyback Program is independent of these Program. Refer to sales contract exhibit.
  • Program is effective as of the date the buyer’s deed is recorded at the Bureau of Conveyances, State of Hawaii.
  • Program is effective for 10 years. A release is not required to be filed at the end of the 10th year.
  • Program requires owner occupancy of the property as the principal residence while the program is in effect. All persons on title must comply with the owner occupancy requirement; including spouse, even if not on title.
  • HHFDC has the first-right of refusal to repurchase the unit if owner cannot be an owner occupant as required.
  • HHFDC consent is required whenever title to the property and/or ownership interest is affected, such as change in title or mortgage company.
  • There are certain limitations when refinancing under the buyback program.
  • The 10-year buyback program may be extended when circumstances requiring a temporary absence from the unit as an owner occupant is permitted by HHFDC subject to owner’s completion of HHFDC’s requirements.
  • There is no “buyout” of the buyback program.
  • The SAE Program is independent of the Buyback Program. Refer to sales contract exhibit.
  • The SAE Program is effective as of the date the buyer’s deed is recorded at the Bureau of Conveyances, State of Hawaii.
  • HHFDC’s SAE does not expire no time limit.
  • Upon receiving the full SAE payment, HHFDC will provide a template for the owner to use with recording a release of owner’s obligation under the SAE program.
  • Program requires owner occupancy of the property as the principal residence while the program is in effect. All persons on title must comply with the owner occupancy requirement; including spouse, even if not on title.
  • SAE must be paid upon sale, transfer or rental of the property. If not paid when due, 12% simple interest will accrue from the “SAE due date” until the SAE amount is paid in full to HHFDC.
  • HHFDC’s consent is required whenever title to the property and/or ownership interest is affected, such as change in title or mortgage company.
  • There are certain limitations when refinancing under the SAE program.
  • SAE percent shares are determined prior to closing and once the deed is recorded, will not change.
  • Sample calculation of how the percentages are determined and how to calculate the payoff is provided in the contract exhibit.
  • The SAE program may be extended by owner with HHFDC prior written approval, when circumstances requiring a temporary absence from being an owner occupant is granted by HHFDC and after owner completes all of HHFDC requirements.

Please complete and return the form below if you would like information or have questions about HHFDC’s SAE and/or Buyback programs: SAE and/or Buyback Program Information Request Form

Download this Side-By-Side Comparison of HHFDC’s SAE and Buyback programs in PDF format