DHHL says $600M appropriation and developer financing will speed housing; agency to build to what applicants can afford

At the orientation DHHL leaders described a financing strategy that pairs a large state appropriation with developer leverage and service-provider support. "Recently in 2022, we got about $600 million," Chair Watson said, and he added the department used roughly $511 million of that for infrastructure and worked with developers who brought about $2 billion of financing to build housing.

Watson and staff described a procedural shift: project leases will be awarded without prior bank pre-qualification so applicants can choose where they want to live and then work with service providers and lenders for financial assessment. The department named Ho'oulu Community Lending as a partner to assist applicants with loan sourcing and down-payment assistance, and described rent-with-option-to-purchase, owner-builder and self-help paths as part of its approach to make homes affordable.