By Benjamin Finnerty (S), REALTOR® (RS-83812) with Keller Williams Realty Maui · Kīhei, Maui · 808-481-9748

Quick Answer: The main first-time homebuyer programs on Maui in 2026 are the State’s Hale Kamaʻāina Mortgage Program (formerly Hula Mae, relaunched December 2025), FHA loans with as little as 3.5% down, and Fannie Mae HomeReady or Freddie Mac Home Possible with 3% down. Maui County’s 2026 one-unit conforming loan limit is $1,299,500.

I’m Benjamin Finnerty, a REALTOR® in Kīhei with Keller Williams Realty Maui. First-time homebuyer programs on Maui have changed a lot in the past year. It’s easy to miss that Hula Mae is back under a new name, or that the County’s older down payment program isn’t currently taking applications. Here’s where things stand as of October 2026, so you can have a focused conversation with a lender.

What is the Hale Kamaʻāina Mortgage Program?

It’s the State of Hawaiʻi’s below-market-rate mortgage program for first-time buyers, run by the Hawaiʻi Housing Finance and Development Corporation (HHFDC). It’s the old Hula Mae Single Family program under a new name. HHFDC relaunched it in December 2025 after it had been dormant for about 12 years, and the first three buyers closed in May 2026.

Key features, per HHFDC materials (as of 2026):

• First-time buyer: generally, no ownership interest in a principal residence in the past three years, with exceptions for veterans and targeted-area purchases.
• Down payment assistance: a second loan equal to 4% of the first mortgage at 1% simple interest, with no monthly payments, due on sale, refinance or maturity. Per HHFDC’s March 2026 presentation, the buyer must contribute 5% of the price to qualify for it.
• Other requirements: a minimum 660 credit score, a 45% maximum debt-to-income ratio, one-unit homes only, and HUD-approved homebuyer counseling.
• Rates: HHFDC posts current rates on its program page; they’ve changed several times since launch, so confirm with a participating lender on the day you apply.
• Lenders: HHFDC lists 14 participating lenders (page updated August 6, 2026).

What are the Maui County limits for the Hale Kamaʻāina program?

HHFDC’s posted Maui County limits, effective June 13, 2026:

Limit	Maui County
Household income, 1–2 persons	$177,600
Household income, 3+ persons	$207,200
Purchase price, non-targeted area	$1,359,682
Purchase price, targeted area	$1,661,833

These limits change, so check HHFDC’s current eligibility page before you shop.

How much can I borrow with an FHA or conventional loan on Maui?

For 2026, Maui County’s one-unit conforming loan limit is $1,299,500, among the highest in the country, per the FHFA county list. FHA’s 2026 one-unit limit for Maui County is also listed at $1,299,500. Hawaiʻi limits are set separately from the mainland ceiling of $1,249,125.

Option	Minimum down payment	Notes (as of 2026)
FHA	3.5%	Credit score of 580+ for maximum financing
Fannie Mae HomeReady	3%	Income up to 80% of area median income; homebuyer education if all borrowers are first-time buyers
Freddie Mac Home Possible	3%	Income up to 80% of area median income; 97% maximum loan-to-value
Hale Kamaʻāina Mortgage	Varies by loan type	State program; 4% down payment assistance second loan available

For context, HHFDC’s 2026 Maui County chart puts 80% of area median income at $118,400 for a household of four.

Are there Maui County down payment assistance programs right now?

Not one that’s open to the general public, as far as I can confirm. The County’s older First-Time Homebuyer down payment program offered up to $30,000, but its most recent round I could find was in 2021, and the County’s application page still shows an old deadline.

The County’s wildfire-recovery First-Time Homebuyer Opportunity, funded with federal disaster recovery dollars as part of Hoʻokumu Hou, closed to new applicants on September 30, 2025. Maui Now reported in May 2026 that 3,215 households applied, 61 were approved and 13 had closed. If you’re already in that program, stay in close touch with the County.

What other costs should first-time Maui buyers plan for?

Plan for more than the down payment. Mortgage rates are a big factor: Freddie Mac’s average 30-year fixed rate was 7.40% on October 8, 2026, the highest since November 2023. Insurance, association dues and closing costs add up too.

Once you own and live in your home, file for Maui County’s home exemption, which reduces taxable assessed value by $300,000. The deadline for the 2027 assessment year is December 31, 2026. I explained it in my post on Maui’s December 31 property tax deadline.

This is general information, not tax or legal advice. Confirm with a CPA or Hawaiʻi attorney.

My Take: What I’m Telling First-Time Buyers

Start with the lender, not the listings. Ask two or three lenders, including at least one on HHFDC’s participating list, to compare a Hale Kamaʻāina loan with FHA and a 3% down conventional option on the same price. The best program depends on your income, credit, savings and the property type, and the monthly payments can differ more than you’d expect.

Next, get homebuyer counseling done early. It’s required for some programs and helps you move quickly when the right home shows up. Then shop with a realistic monthly number. My post on Maui home affordability at today’s rates walks through the math.

Condo buyers should also confirm the building qualifies for the loan type before writing an offer, since FHA and conventional loans both have project rules.

Frequently Asked Questions

Is Hula Mae still available on Maui?
Yes, under a new name. HHFDC relaunched it as the Hale Kamaʻāina Mortgage Program in December 2025.

What is the income limit for the Hale Kamaʻāina program in Maui County?
$177,600 for a household of one or two and $207,200 for three or more, per HHFDC limits effective June 13, 2026.

What is the 2026 FHA loan limit in Maui County?
$1,299,500 for a one-unit home.

Can I buy a Maui home with 3% down?
Possibly. Fannie Mae HomeReady and Freddie Mac Home Possible allow 3% down for eligible buyers with income up to 80% of area median income.

Does Maui County offer down payment assistance in 2026?
I couldn’t confirm an open, general County program as of October 2026. Check with the County Department of Housing for updates.

Ask Benjamin

If you’re buying your first home on Maui, I’m happy to help you compare programs, connect with lenders and find homes that fit your numbers. I’m Benjamin Finnerty. Call or text 808-481-9748 or email benjamin@the808team.com.

Sources: HHFDC (Dec. 11, 2025 and May 8, 2026 releases; program, lender and Maui County limits pages, 2026); Hawaiʻi Public Radio (May 11, 2026); FHFA 2026 conforming loan limits; HUD (Dec. 11, 2025); Fannie Mae and Freddie Mac product pages; County of Maui (Hoʻokumu Hou; Home Exemption form DFT-450); Maui Now (May 16, 2026); Freddie Mac PMMS (Oct. 8, 2026).