Glossary of HHFDC & Housing Terms

Hawaiʻi Housing Finance & Development Corporation (HHFDC) Glossary

A–E

  • 201H (Chapter 201H): A statutory tool that allows HHFDC to help developers expedite review processes and seek exemptions from certain county laws, zoning ordinances, and construction standards for projects that meet specific affordability criteria.
  • 343 Exemption (Chapter 343 HRS): An exemption from the state’s environmental review process granted to projects that meet specific criteria, often used to expedite affordable housing development.
  • Action Plan (Annual Action Plan): A one-year strategic document adopted by HHFDC that outlines how the state will utilize federal funds to address the housing needs of extremely low- to moderate-income families.
  • Administrative Rules (Hawaiʻi Administrative Rules / HAR): Regulations adopted by state agencies to implement and enforce the policies and laws enacted by the State Legislature.
  • Affordable Housing: Residential inventory that is price-restricted and income-targeted to remain accessible to households at or below specific AMI levels.
  • AMI (Area Median Income): A benchmark established annually by HUD used to determine income eligibility for housing programs; figures are adjusted for household size and location.
  • Annual Report: A formal publication detailing HHFDC’s historical performance, accomplishments, and financial statements.
  • Blood Quantum: A requirement for eligibility for Hawaiian Home Lands, defined by the Hawaiian Homes Commission Act as having at least 50 percent Hawaiian blood.
  • Buyback: A deed restriction that gives HHFDC the first option to repurchase a unit if the owner cannot occupy it during a set restricted period.
  • Compliance: The ongoing process by which HHFDC monitors projects to ensure they adhere to statutory requirements and affordability restrictions.
  • Consolidated Application: A comprehensive application packet required by HHFDC for developers seeking multiple financing sources.
  • DBEDT: Department of Business, Economic Development and Tourism; the state department that oversees HHFDC.
  • DHHL: Department of Hawaiian Home Lands; the state agency that manages the Hawaiian Home Lands trust.
  • DHS: Department of Human Services; the state agency responsible for managing social service programs.
  • DURD: Development Unit Residential Development; a type of zoning or planning classification.
  • EAH (Employer Assisted Housing): A program where employers provide financial assistance to help their employees achieve homeownership.
  • EAH Housing: A non-profit organization that develops and manages affordable rental housing communities.
  • Equity: The financial interest or value a homeowner has in their property.

F–M

  • For-Action: A standard designation for agenda items scheduled for a formal vote by the HHFDC Board.
  • Funding Round: A designated period during which HHFDC accepts and reviews applications for competitive financing programs.
  • GET Exemption: A financial incentive that exempts qualified affordable housing projects from the state general excise tax on construction costs.
  • GIS (Geographic Information System): A mapping and data analysis tool used by HHFDC to track land assets and housing needs.
  • HAF (Homeowner Assistance Fund): A federally funded program providing financial assistance to eligible homeowners experiencing hardship.
  • HCDA: Hawaiʻi Community Development Authority; a separate regulatory body that manages specific districts like Kakaʻako.
  • HHPS (Hawaiʻi Housing Planning Study): A research study used to forecast housing demand and understand affordability challenges.
  • HPHA (Hawaiʻi Public Housing Authority): The state agency responsible for managing federal and state low-income public housing programs and the Section 8 (Housing Choice Voucher) program; operates separately from HHFDC.
  • Hula Mae: Refers to HMMF (multi-family bond financing) and the Single-Family mortgage loan program.
  • Infrastructure: The essential physical systems required to support housing development, including water, sewer, roadways, and transit.
  • Lease: A contractual agreement granting the right to use property for a specified period.
  • Leasehold: A form of property tenure where the homeowner owns the right to occupy the land for a specified period, but not the land itself in fee simple.
  • Lessee: The party who holds the right to use or occupy a property under a lease agreement.
  • Low-Income Public Housing: Rental housing managed by the HPHA for eligible low-income families, the elderly, and persons with disabilities, with rents typically set at 30% of a family’s adjusted gross income.
  • Master Plan: A comprehensive long-range planning document that dictates development and land use for large-scale projects.
  • MCC (Mortgage Credit Certificate): A federal income tax credit program that reduces federal income tax for first-time homebuyers.
  • Mixed-Use: A development design that integrates multiple purposes—such as residential and commercial—into a single site.

N–Z

  • NASED (New Aloha Stadium Entertainment District): A state-led mixed-use redevelopment program for the Aloha Stadium site in Hālawa, which includes planned integrated affordable and workforce housing.
  • Project Awards: Formal approval and allocation of financing resources to a developer.
  • QAP (Qualified Allocation Plan): The state-mandated plan outlining criteria for allocating Low-Income Housing Tax Credits (LIHTC).
  • RFI (Request for Information): A preliminary procurement document used to gather information or market feedback from potential vendors or developers.
  • RFP (Request for Proposals): A formal solicitation document inviting developers to submit detailed project proposals, typically for specific development sites or financing opportunities.
  • RFQ (Request for Qualifications): A solicitation document used to pre-qualify developers or service providers based on their experience, financial capacity, and technical expertise.
  • RHRF (Rental Housing Revolving Fund): The primary state-funded “gap financing” mechanism for affordable rentals.
  • SAE (Shared Appreciation Equity): A mechanism where a homeowner shares a portion of their home’s net appreciation with the state upon sale.
  • Section 8 (Housing Choice Voucher Program): A federal program administered by the HPHA that provides rental assistance to low-income families, allowing them to rent housing in the private market.
  • Skyline: Honolulu’s light metro rapid transit system. Its development serves as a primary catalyst for Transit-Oriented Development (TOD), intended to increase density and affordable housing supply along the rail corridor.
  • TOD (Transit-Oriented Development): A strategy focusing on compact, walkable communities located near public transportation.
  • VOK (Villages of Kapolei): A large-scale, state-owned master-planned community.
  • Waiahole Valley: A state-owned agricultural and residential valley managed by HHFDC.
  • Workforce Housing: Housing targeted to households, often middle-income earners, whose income levels are challenged by local market costs.