Hawaii Community Lending describes Whole Home program and loan options for homestead beneficiaries

Chanel Josiah, chief operating officer at Hawaii Community Lending, described the nonprofit lender's Whole Home program and its financing products during the Molokai orientation.

Josiah said HCL created the Whole Home program as a single point of entry to help beneficiaries navigate financing, construction timelines, DHHL approval processes and contractor selection. "We want to help beneficiaries navigate this complex process... by providing education, helping you coordinate and give you guidance from preconstruction to construction loan all the way through mortgage loans," she said.

Josiah provided statewide averages and product details to give beneficiaries planning context: she said HCL's average home size in its projects is about 1,400 square feet (three-bedroom, two-bath) and the average cost is about $445,000; she gave an example of a larger four-bedroom, three-bath plan that cost about $490,000 without septic. She cautioned that site conditions such as septic tanks or permitting can change costs and emphasized order-of-operations to avoid spending on plans that may not match financing eligibility.

On financing, Josiah described HCL’s interest-only construction loan available for up to 12 months that applicants typically access after pre-development work is complete, and post-construction options including HCL's Kahu Hale and Ko‘olau AAL loans or mortgage brokerage using FHA products. She also described consumer products HCL uses to help borrowers improve credit or consolidate debt, noting a new debt-consolidation maximum of up to $75,000 for beneficiaries who then seek home loans through HCL.

Josiah encouraged beneficiaries to contact HCL for help and provided contact details (kokua@hawaiicommunitylending.com; 808-587-7656).