Kuilei Place Releases 11 Two-Bedroom Homes Through HHFDC’s DEP Program

A new opportunity has opened at Kuilei Place for qualified Hawaiʻi buyers seeking a two-bedroom home at a reduced purchase price.

Kuilei Place has announced the release of 11 two-bedroom, 1.5-bath residences through the Hawaiʻi Housing Finance and Development Corporation’s Dwelling Unit Revolving Fund Equity Pilot Program, commonly known as the DEP Program.

Through DEP, HHFDC contributes funds toward the purchase price as a 30-year, 0% interest second mortgage with no periodic monthly payments required. This assistance can reduce the amount a qualified buyer must finance through their primary mortgage.

For buyers who may have missed the earlier affordable and DEP opportunities at Kuilei Place, this limited release provides another chance to purchase a new residence in Honolulu.

Kuilei Place DEP Pricing

The newly designated DEP residences include:

• 11 residences
• Two bedrooms and 1.5 bathrooms
• Original prices from $697,000 to $704,000
• HHFDC equity contribution from $69,700 to $70,400
• Reduced DEP purchase prices from $627,300 to $633,600

The HHFDC contribution represents 10% of the original sales price.

While the DEP contribution lowers the buyer’s initial purchase price, it remains a second mortgage. Buyers should carefully review the official DEP affidavit and program documents to understand all repayment requirements, resale provisions and long-term obligations.

Why This Release Is Significant

Two-bedroom affordable residences can be especially valuable for buyers who need additional space for children, family members, a home office or changing household needs.

With only 11 designated residences available, however, this is a very limited opportunity. Buyers should not wait until the end of the application period to begin reviewing their qualifications or speaking with a project-approved lender.

Who May Be Eligible for the DEP Program?

According to the public announcement, a DEP buyer must:

1. Be approved by HHFDC for a Kuilei Place affordable residence
2. Own no other real property
3. Receive no gift funds
4. Work in a profession identified by HHFDC as experiencing a workforce shortage

The announcement identifies eligible professions that include:

• Healthcare workers
• Educators
• Law enforcement officers
• Correctional officers
• Agricultural field workers
• Emergency medical technicians
• Water safety officers
• Construction inspectors
• Victim and witness counselors

The final four categories apply to select City and County of Honolulu positions.

Because eligibility may depend on an applicant’s exact employer, occupation and job classification, buyers should not assume that a similar job title will automatically qualify. The official DEP affidavit and HHFDC review will determine eligibility.

General Kuilei Place Affordable-Housing Requirements

DEP applicants must also qualify for a Kuilei Place affordable residence.

The public announcement states that a qualified resident must generally:

• Be a United States citizen or resident alien
• Be at least 18 years old
• Be domiciled in Hawaiʻi
• Physically occupy the residence being purchased
• Have sufficient income to qualify for financing
• Provide a prequalification letter from a project-approved lender
• Meet the applicable real-property ownership requirements

The announcement also includes additional provisions for spouses and household members, so each applicant’s full household situation must be reviewed carefully.

Important DEP Release Timeline

The 11 residences are being offered exclusively to eligible DEP buyers on a first-come, first-served basis for 30 days beginning July 15, 2026.

That exclusive period continues through August 14, 2026.

After August 14, any remaining designated residences may be offered to other HHFDC-approved buyers at the original sales price and without the HHFDC equity contribution. DEP-qualified buyers will continue to receive priority at the reduced DEP prices until the designated residences are sold.

This means there are two reasons to begin early:

First, the DEP residences are limited and offered on a first-come, first-served basis. Second, buyers will need time to confirm occupational eligibility, obtain financing documentation and complete the required HHFDC paperwork.

Income Limits and Affordable-Housing Restrictions

Applicants must meet all applicable HHFDC household-income and eligibility requirements.

The residences will also be subject to HHFDC’s:

• Use, Sale and Transfer restrictions, commonly referred to as the buyback restriction
• Shared Appreciation Equity Program requirements

These restrictions may affect future occupancy, refinancing, resale and the distribution of appreciation when the residence is eventually sold.

Buyers should understand these obligations before committing to a residence—not simply focus on the reduced DEP price.

How ONE Pacific Realty Can Help

Affordable and DEP purchases involve more than selecting a floor plan. The process may include occupational verification, household-income review, lender prequalification, HHFDC approval and detailed program disclosures.

As your buyer’s representative, ONE Pacific Realty can help you:

• Review the published eligibility requirements
• Identify questions that need to be confirmed with the project team
• Connect with an approved project lender
• Prepare for the affordable-housing application process
• Evaluate the residence, financing and program restrictions
• Navigate the purchase from initial qualification through closing

The project’s sales team represents the developer. Working with your own real estate professional gives you someone focused on helping you understand the opportunity from the buyer’s perspective.

Interested in a Kuilei Place DEP Residence?

With only 11 two-bedroom residences included in this release, interested buyers should begin the qualification process as soon as possible.

Contact ONE Pacific Realty for a confidential consultation regarding the Kuilei Place DEP opportunity, lender prequalification and the steps required to pursue one of the newly released residences.

Information is based on Kuilei Place’s public newspaper announcement and is subject to change. Kuilei Place is a proposed development that does not yet exist. Prices, availability, program requirements and other information are approximate and may change. Compass Hawaiʻi, LLC is the project’s exclusive broker. ONE Pacific Realty, Inc. is not affiliated with the developer or exclusive project broker and represents buyers independently.