Increases the loan guarantee limit for the Department of Hawaiian Home Lands to address rising housing costs.

This bill amends the Hawaiian Homes Commission Act to increase the loan guarantee limit for the Department of Hawaiian Home Lands from $100,000,000 to $500,000,000. The increase responds to rising housing costs and construction expenses, particularly in the wake of global inflation and the 2023 Maui wildfires. The higher limit aims to assist lessees in securing mortgages and financing home builds on Hawaiian home lands. The changes are designed to ensure the department can effectively match federal, state, or county funds required for loan guarantees.

Increases the loan guarantee limit for the Department of Hawaiian Home Lands to address rising housing costs.

This bill amends the Hawaiian Homes Commission Act to increase the loan guarantee limit for the Department of Hawaiian Home Lands from $100,000,000 to $500,000,000. The increase responds to rising housing costs and construction expenses, particularly in the wake of global inflation and the 2023 Maui wildfires. The higher limit aims to assist lessees in securing mortgages and financing home builds on Hawaiian home lands. The changes are designed to ensure the department can effectively match federal, state, or county funds required for loan guarantees.