Learn About HHFDC
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Who is HHFDC?
The Hawaiʻi Housing Finance & Development Corporation (HHFDC) is the primary state agency responsible for the financing, development, and preservation of affordable and workforce housing. It operates under the Department of Business, Economic Development & Tourism (DBEDT) and is staffed by approximately 70 employees.
A High-Performing, Award-Winning Team
HHFDC is proud to be recognized as a high-performing, award-winning state agency. Our success is a direct result of our team’s dedication to excellence, innovation, and measurable results. We consistently push the boundaries of what is possible in government and affordable housing.
Recent National Recognition: In 2024, HHFDC received the Award of Excellence for Special Achievement from the National Council of State Housing Agencies (NCSHA). This top national honor recognized our agency’s rapid response in standing up the Hawaiʻi Fire Relief Housing Program in the wake of the Maui wildfires.
Also see:
Our Initiatives
The HHFDC’s mission is to increase and preserve the supply of affordable and workforce housing across the state. Hawaiʻi faces a significant housing deficit.
HHFDC Housing Inventory Pipeline
View the comprehensive list of in-construction affordable and workforce housing projects across the state.
Affordable Housing Inventory List & Map
Visualize where affordable units are located across the state and search for in-service projects.
What Does HHFDC Do?
- Financing Affordable Housing: Acts as the primary state source for “gap financing” for developers, using tools like the Rental Housing Revolving Fund (RHRF), Low-Income Housing Tax Credits (LIHTC), and Hula Mae Multi-Family bonds.
- Homeownership Programs: Manages the Mortgage Credit Certificate (MCC), Buyback, and Shared Appreciation Equity (SAE) programs.
- Special Projects:
We have several projects that sit outside of our core mission, for example:- Villages of Kapolei: Manages 888 acres, infrastructure, and oversees new development phases.
- Waiahole Valley: Manages 750 acres, including a state-owned water system and oversight of residential/agricultural ground leases.
- See the full project list
History and Evolution
The HHFDC as it exists today was established by the Hawaiʻi State Legislature effective July 1, 2006. Its creation resulted from a strategic decision to separate housing finance and development from the management of public housing.
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- Pre-2006 Context: Functions were previously managed by the Housing and Community Development Corporation of Hawaiʻi (HCDCH).
- Legislative Shift: Through Act 196 (2005) and Act 180 (2006), the Legislature created the HHFDC to focus exclusively on finance/development.
- Long-term Roots: Lineage traces back to the Hawaiʻi Housing Authority (HHA), established in 1935.
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AGENCY TIMELINE
2006
On July 1, 2006, the Hawaii Public Housing Authority (HPHA) and HHFDC began operating as separate agencies.
2005
Governor Linda Lingle enacted Act 196 which split the HCDCH into two agencies, creating the HHFDC to focus on low- and moderate-income housing development.
1998
On July 1, 1998, The Housing and Community Development Corporation of Hawaii (HCDCH) began operating as a single agency.
1935
The Hawaii Housing Authority (HHA) was created by the Territorial Legislature to provide safe, sanitary housing for low-income residents.
