The Park On Keeaumoku Offers Down Payment/Mortgage Assistance

The Hawaiʻi Housing Finance and Development Corporation (HHFDC) has introduced the Dwelling Unit Revolving Fund Equity Pilot (DEP) Program to enhance homeownership opportunities for qualified residents, particularly those in professions experiencing critical shortages, such as healthcare workers, educators, law enforcement officers, and agricultural field workers.

The Park on Keʻeaumoku, a new condominium development located at 1515 Liona Street and 1500 Rycroft Street in Honolulu, is participating in this initiative by offering 26 DEP-designated units. These units are scheduled to close starting in September 2025.

Through the DEP Program, HHFDC contributes funds toward the original sales price of designated starter units, effectively lowering the purchase price for eligible buyers. For The Park on Keʻeaumoku, the available units and assistance details are as follows:

• Studio, 1 Bath Units: 11 units priced between $348,647 and $397,000, with HHFDC providing assistance ranging from $69,729 to $79,400.

• 1 Bedroom, 1 Bath Units: 14 units priced between $559,500 and $597,000, with assistance between $83,925 and $89,550.

• 1 Bedroom, 1 Bath Unit: 1 unit priced at $642,000, with $64,200 in assistance.

To qualify for the DEP Program at The Park on Keʻeaumoku, applicants must:

1. Submit a DEP affidavit with a Project Sales Team Agent.

2. Not own any other real property.

3. Not receive any gift funds for the purchase.

4. Be employed in a profession facing a shortage, as determined by HHFDC. Between February 23, 2025, and March 25, 2025, eligible professions include nurses, teachers, police officers, and agricultural field workers. After March 25, 2025, eligibility extends to healthcare workers, educators, law enforcement officers, staff at correctional facilities, agricultural field workers, and specific professions within Honolulu County, such as EMTs, water safety officers, construction inspectors, and victim's witness counselors.

For units also part of The Park on Keʻeaumoku's Affordable Housing Program, additional qualifications apply, including age, residency, income, and asset requirements.

Interested individuals can obtain more information and the DEP Program affidavit by visiting The Park On Keeaumoku or emailing info@onepacificrealty.com or by calling (808) 392-8852. Designated units are offered exclusively to eligible buyers on a first-come, first-served basis.

This collaboration between HHFDC and The Park on Keʻeaumoku represents a significant effort to make homeownership more attainable for Hawaiʻi's workforce, ensuring that essential professionals can continue to live and thrive in the communities they serve.