Hawaiian Community Assets

Native CDFI Assists Hawaiian Families Access $134 Million in Capital to Secure & Sustain Affordable Housing

April 8, 2014




Ulu HAWAII - Native-controlled CDFI (community development financial institution), Hawaiian Community Assets (HCA), reported today that it has assisted Native Hawaiian families access $134 million in capital to secure and sustain affordable housing since its founding in 2000.  Access to capital included mortgage loan origination, match savings/IDAs, and micro-loans.


The organization was born out of the Hawaiian community's demand for culturally-relevant financial education and capital necessary to realize the dream of homeownership, specializing on the unique needs of beneficiaries of the Hawaiian Homelands Trust.


 "(Access to capital for Native Hawaiians) was why HCA was created 13 years ago," said Co-Founder and Board President, Kehaulani Filimoeatu.  "At the time, banks and credit unions were not lending to our people.  Still today there is a lack of access to capital for our children and families, making HCA even more committed to meeting the needs of Native Hawaiian community through its various development services and financial products."


Recently, HCA expanded its capital deployment strategy to include short-term emergency loans to beneficiaries of the Hawaiian Homelands Trust who are at-risk of lease cancellation as well as credit builder loans for homeless Native Hawaiians and first-time homebuyers.  All financial products provided by HCA are complimented by HUD-certified financial education and housing counseling services.  Group workshops and individualized counseling sessions are delivered using the organization's culturally-relevant Kahua Waiwai: Building a Foundation of Wealth(c) handbooks, financial education curriculum developed for and by Hawaii's local communities.


According to Filimoeatu, HCA's success in deploying capital to Native Hawaiians residing in Hawaii has resulted in recognition from the Ford Foundation in 2003, specifically for the organization's comprehensive model to assist families achieve homeownership.  Additionally, the organization's youth financial education program was highlighted in December 2013 by the Federal Reserve Bank of San Francisco in its Fall Community Investments Issue as a growing model for native community development.


For more information about Hawaiian Community Assets call 808.587.7886 or visit www.HawaiianCommunity.net.