HHFDC Equity Pilot (DURF DEP Program)

HHFDC Services for residents

The HHFDC Equity Pilot (DURF DEP Program) is a strategic financial tool designed to bridge the gap to homeownership for Hawaiʻi’s shortage professions.

Formally known as the Dwelling Unit Revolving Fund Equity Pilot (DURF DEP), this is a targeted homeownership program by the Hawaiʻi Housing Finance & Development Corporation (HHFDC) designed to help qualified Hawaiʻi residents in shortage professions achieve homeownership at reduced costs.

Featured Equity Pilot Projects

Kuilei Place

Kuilei Place: 28 total designated units (2-bedroom/1-bath); $103,300 contribution/unit. Starting at $523,400 fee simple. Must be HHFDC approved for affordable unit, own no other property, no gift funds, and work in a high-demand profession. View

Kahuina

Kahuina: 27 total units (23 – 1 bedroom, 1 bath units and 4 – 2 bedroom, 1.5 bath units HHFDC contribution is equivalent to 15% of the sales price for 1 bedroom units and 10% of the sales price for 2 bedroom units.
View

Purpose and Structure

The program is a zero‑percent, 30‑year second mortgage loan that allows HHFDC to purchase a portion of the equity in designated starter units within approved housing developments. This reduces the buyer’s qualifying loan amount, making homeownership more affordable.

Program Overview

  • DEP is a finance tool designed to help qualified buyers achieve homeownership through a zero‑percent, 30‑year second mortgage loan.
  • Reduces qualifying loan amount for borrowers, enabling HHFDC to support more affordable entry into homeownership.
  • Pre‑payment to developers — the specified amount is disbursed to the developer on behalf of the buyer before the sale/purchase closes.
  • Repayment obligation — the buyer agrees to repay the disbursed amount under defined terms and conditions.

Criteria to Participate

  • Does not own any real property (anywhere in the world).
  • Has not received any gift funds.
  • Must be a Hawaiʻi Resident.
  • Must be an owner-occupant for as long as the program is in place.
  • Is working in a profession facing a shortage, as determined by HHFDC, such as: Healthcare, Educators, Law Enforcement, Select Honolulu County positions (medical technicians, water safety officers, construction inspectors and victim’s witness counselors) or Agricultural field workers.

Who the Program Supports

The DEP program serves Hawaiʻi residents working in an occupation that requires specialized knowledge and often advanced education; a calling requiring specialized knowledge and often long and intensive academic preparation (profession) facing a shortage.

Healthcare
Educators
Law Enforcement & Corrections
Agriculture

How to Apply

  1. Prequalify with a preferred lender (no outside lenders allowed).
  2. Download a DEP Affidavit packet from the project’s website or sales office (ie see featured projects at the top of this page).
  3. Complete the affidavit & attach supporting documents.
  4. Sign the affidavit in front of a notary public.
  5. Contact a sales team agent for submission instructions.
  6. HHFDC will review and notify your sales team agent of status.
  7. If approved, contact your sales team agent to select a unit.

Check out HHFDC on KHON where we talk about programs like the Equity Pilot Program and the Hale Kama’āina Mortgage Program (Via KOHN2 News)


Hawaii Workforce Photo