HONOLULU (KHON2) — The Maui August wildfires claimed the lives, items and properties of so many.
Almost 800 Lahaina homeowners were displaced and face the harsh reality of holding more than $225 million as a whole in first mortgages.
Hawaii Community Lending joined forces with Hawaii Community Foundation and Holomua Collective to create the Lahaina Homeowner Recovery Program.
It’s aimed at being a three-year program that will assist up to 500 homeowners prevent foreclosure and qualify for financing to rebuild their homes.
“If our homeowners are unable to prevent foreclosure and rebuild their homes, we will see a devastating impact on entire families, county property tax revenues, the mainstream financial system, and the economy overall,”
Jeff Gilbreath, HCL executive director
Some entities helping fund the HCL program include:
First Hawaiian Bank
American Savings Bank
Bank of Hawaii
Central Pacific Bank
HomeStreet Bank
Hawaii National Bank
Finance Factors
Holomua Collective
The Maui Strong Fund of the Hawaiʻi Community Foundation
The Department of Hawaiian Home Lands
“The Member Impact Fund is just one-way FHLB Des Moines enables our members to connect directly with local organizations, like Hawaii Community Lending, who matter to them, creating value and a lasting impact in their own communities,” added Kris Williams, President of Federal Home Loan Bank of Des Moines. “The commitment of our Hawaii members, and their connections to local organizations, help advance the positive work being done in Hawaii.”
The program is set to expand from HCL’s Kanaka Anti-Displacement Fund to serve all Lahaina owner-occupant homeowners.
HCL plans to start accepting applications from eligible Lahaina homeowners in July 2024.
If you are a Lahaina homeowner who occupied your home at the time of the fires, you may sign up to be placed on an interest list by completing this interest form.