Honolulu condos
The widest choice of starter condos, from Makiki to Waikīkī. Check fees, reserves, and leasehold.
Honolulu guide
First-time buyers · Oʻahu programs for 2026
Your first Oʻahu home
Down payment help, first-time buyer loans, and a clear plan from Oʻahu REALTORS® who love helping first-time buyers get the keys.
What it really takes to buy your first home
You may need less up front than you think. The right loan, plus a program or two, can shrink the cash you need to close.
Plan for three things: your down payment, closing costs, and a monthly payment you're comfortable with, including HOA or maintenance fees, insurance, and property taxes. We'll put real numbers on all three at your first meeting. Try our payment calculators
Rule of thumb: Get pre-approved before you tour. Programs only work through approved lenders, and sellers take your offer more seriously with a pre-approval in hand.
| Loan | Down payment | Good to know |
|---|---|---|
| VA loan | As low as 0% | For eligible service members and veterans. No monthly mortgage insurance. VA details |
| FHA loan | As low as 3.5% | Flexible credit rules. Condos must be FHA-approved. |
| Conventional | As low as 3% | Some first-time buyer options allow 3% down. Mortgage insurance until you reach 20% equity. |
| Hale Kamaʻāina (state) | 5% from you | Below-market fixed rate, with an optional second loan for down payment help. |
General guidelines. Your lender confirms what you qualify for.
City & County of Honolulu
The City's down payment loan
The City offers an interest-free loan of up to $40,000 toward your down payment for income-qualified buyers who don't already own a home.
Funding is first-come, first-served, so it pays to start early. Your lender checks whether funds are available and submits your file to the City.
- Up to $40,000, 0% interestNo interest and no loan fees, repaid monthly over 20 years (about $167 a month on the full $40,000).
- Who qualifiesLow- and moderate-income households who don't own a home they live in. You must live in the home for the life of the loan.
- Take a homebuyer class firstA City-approved homeowner education course is required before the loan is approved.
- The home must pass inspectionIt has to be legally permitted and pass the City's inspection and federal requirements, including lead paint rules for homes built before 1978.
- How to applyTell your lender you want the City down payment loan. Questions: City Department of Community Services, (808) 768-7076.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Annual income limit | $86,250 | $98,600 | $110,900 | $123,200 | $133,100 | $142,950 |
From the City's 2026 program brochure. Limits for larger households are in the brochure, and all limits change from time to time. Confirm current rules and funding with the Department of Community Services.
State of Hawaiʻi · HHFDC
Hale Kamaʻāina Mortgage Program
The state's first-time buyer program offers a 30-year fixed-rate mortgage priced below market, plus an optional second loan to help with your down payment.
Income and price limits are much higher than the City loan, so many working families on Oʻahu qualify.
- A below-market fixed rateThe rate is targeted at least 0.5% below market and stays fixed for 30 years.
- Optional down payment helpA second loan at 1% simple interest with no monthly payments. It's repaid when you sell, refinance, or pay off the home.
- You put in 5%Buyers contribute at least 5% of the price.
- First-time buyer rulesYou haven't owned and lived in a home in the last 3 years (some exceptions for veterans), you're a Hawaiʻi resident, and you complete HUD-approved homebuyer counseling.
- Condos count tooSingle-family homes, townhomes, and condos all qualify if they're within the price limit.
| Limit | Most areas | Targeted areas |
|---|---|---|
| Income, 1–2 people | $152,000 | $182,400 |
| Income, 3+ people | $174,800 | $212,800 |
| Purchase price | $809,458 | $989,337 |
Limits posted by HHFDC (updated January 2026). Apply through a participating lender. Lender list and current rates: HHFDC Hale Kamaʻāina Mortgage Program, (808) 587-0578.
Can I use both? Each program has its own rules, so ask your lender which ones can work together for your purchase. We'll connect you with lenders who use these programs.
Coming later: The Honolulu City Council is considering a second down payment loan fund (Bill 20) that could start in July 2027 if it's approved. We'll update this page when it's final.
Where first-time buyers are buying
Yes, you can still buy on Oʻahu for $500,000 or less. Most first homes here are condos and townhomes.
1,000+Oʻahu homes sold for $500K or less in the first half of 2026
47%of Oʻahu condo sales closed under $500K
3%–5%Typical minimum down on many first-time loans (VA can be 0%)
Pearl City & ʻAiea
Condos and townhomes near Pearlridge and Skyline rail, right in the middle of the island.
Pearl City & ʻAiea guideKapolei
Townhomes and condos in newer communities, with shopping close by.
Kapolei guideʻEwa Beach
Townhomes and newer homes at prices below many parts of the island.
ʻEwa Beach guideMililani
Townhomes and condos in a family-focused community with parks and pools.
Mililani guideKāneʻohe
More windward condo and townhome choices than Kailua, with mountain views.
Kāneʻohe guideSales figures from the Honolulu Board of REALTORS® mid-year 2026 report. Search today's listings
Your first-home plan, step by step
Here's the order we follow with first-time buyers, so programs, paperwork, and deadlines don't sneak up on you.
Want the full contract-to-closing details? See how buying works on Oʻahu.
Book a free first-home callFree first-home call
We talk budget, timing, and which programs might fit, with no pressure.
Take a homebuyer class
Both the City and state programs require one. It's worth doing even if you don't use a program.
Get pre-approved
Choose a lender that offers the program you want. We'll introduce lenders who use them.
Tour homes that fit
We check program price limits, condo approvals, fees, and leasehold before you fall in love.
Make your offer
We build in time for program paperwork and inspections so your offer is strong and realistic.
Close, then file your home exemption
Get your keys, then file for the City's home exemption by September 30 to lower your property taxes. How it works
Book a free first-home call
Pick a time that works for you. We'll look at your budget, the programs you may qualify for, and where to start looking.
- Free and no-pressureAsk anything. There's no obligation.
- Lender introductionsWe'll connect you with lenders who know first-time buyer programs.
- Leave with a planWhat you can afford, which programs to try, and what comes next.
Prefer to call? (808) 990-3443
First-time buyer FAQ
Quick answers to what first-time buyers ask us most.
Program details change. This page is general information, not financial or legal advice. Your lender and the program office confirm what you qualify for.
Is there down payment assistance on Oʻahu?
Yes. The City and County of Honolulu offers an interest-free down payment loan of up to $40,000 for income-qualified buyers, and the state's Hale Kamaʻāina Mortgage Program offers first-time buyers a below-market fixed-rate loan with an optional second loan for down payment help.
How does the City of Honolulu down payment loan work?
It's a loan of up to $40,000 with 0% interest and no fees, repaid monthly over 20 years. It's for low- and moderate-income households who don't own a home, it requires a homebuyer education course, and funds are first-come, first-served. Your mortgage lender applies to the City for you.
Who qualifies for the Hale Kamaʻāina Mortgage Program?
Hawaiʻi residents who haven't owned and lived in a home in the last 3 years, with income and a purchase price under the program limits. In Honolulu County the income limit is $152,000 for 1 to 2 people and $174,800 for 3 or more in most areas, with a price limit of $809,458. Buyers contribute at least 5% and complete homebuyer counseling.
How much do I need to buy my first home on Oʻahu?
It depends on the loan. VA loans can require no down payment, FHA loans start at 3.5%, and some conventional loans start at 3%. You'll also need closing costs and some savings left over. We'll estimate your exact cash to close at a free consultation.
Can I buy a condo with a first-time buyer program?
Often, yes. Hale Kamaʻāina allows condos within its price limit, and FHA and VA loans need the building to be approved. We check approvals, fees, and reserves for every building before you tour.
Do I need to take a homebuyer class?
For these programs, yes. The City loan requires a City-approved homeowner education course, and Hale Kamaʻāina requires counseling from a HUD-approved agency. Many buyers take the class early because it helps with every step.
Ready for your first set of keys?
No pressure, no obligation. Just a real plan for getting into your first Oʻahu home.