1. Please explain HHFDC’s mission. How has the agency evolved under Gov. Josh Green, who has made adding affordable housing a priority?

The mission of the Hawaii Housing Finance and Development Corp. is to advance housing opportunities for the residents of Hawaii. This aligns nicely with Gov. Green’s objectives.

One of the governor’s first actions was to issue an emergency proclamation (EP) on housing. HHFDC, the Office of Planning and Sustainable Development, and the Hawaii Public Housing Authority co-chaired the Build Beyond Barriers working group (BBB) created by the EP. The 1060 Bishop St. project, one of the first projects approved by the BBB, recently opened. Though the working group was subsequently disbanded, HHFDC continues to administer the housing EP, certifying eligible projects for waivers of school impact fees and certain county development fees.

HHFDC’s focus this past year has been on assisting a wider range of households, and in particular those local residents striving to attain home ownership. Specifically:

>> Earlier this year, we launched the Dwelling Unit Revolving Fund Equity Pilot Program, which lowers the cost paid for a unit by local buyers. The program has been well-received by developers and homebuyers, and projects such as Kuilei Place, Modea and Flats at Sky Ala Moana are participating.

>> By year’s end, we intend to launch a new down-payment assistance program, providing up to $60,000 in assistance to qualifying households. We also plan to launch a new mortgage assistance program, providing below-market interest mortgage loans to qualifying households.

>> Other initiatives planned: recycling of tax-exempt private activity bonds to provide additional financing for affordable housing projects; and income averaging for Low-Income Housing Tax Credits projects so that they serve a broader range of households.

2. You earned praise for the quick set-up of the Hawaii Fire Relief Housing Program. Can you give us an update?

I’m extremely proud of the staff at HHFDC, which stood up this program to help displaced persons find housing within less than a week after the Aug. 8, 2023, Maui fire. Others have also noticed the effort and innovation: The National Council of State Housing Agencies recognized HHFDC’s fire relief housing program with its prestigious Special Achievement Award on Sept. 30.

The program was established at the request of Gov. Green. Nearly everyone on staff at HHFDC was involved, answering calls from survivors, verifying listings or coordinating with other organizations. From August to December 2023, the program assisted about 600 households find housing. In December 2023, the program was transitioned to the Council for Native Hawaiian Advancement for administration.

3. HHFDC is preparing an Action Plan for 2025, and a five-year Consolidated Plan for 2025-2029 documenting low- and moderate-income housing plans, required because Hawaii receives federal housing assistance. Both are in the public hearing phase. Can you describe these plans?

The Consolidated Plan (CP) assesses five-year affordable housing needs of the state, while the annual Action Plan establishes specific actions to meet CP objectives.

We receive roughly $3 million in HOME Investment Partnerships and Housing Trust Fund (HTF) grants, and work with Hawaii counties to allocate funding for activities such as development or rehabilitation of rental units, rental assistance and home ownership programs.

4. What part does federal funding play in Hawaii housing initiatives?

HHFDC doesn’t receive much direct federal funding, but we administer programs that provide significant equity for affordable housing projects.

HHFDC is the state’s designated allocating agency for Low-Income Housing Tax Credits (LIHTC), the federal government’s primary funding program for affordable rental housing. We issue private activity bonds through a separate program in conjunction with LIHTC. Both programs receive a small-state minimum, fixed by the U.S. Department of the Treasury.

We also administer programs such as HOME and HTF, disbursing grants to counties.

5. Honolulu and Hawaii island counties opposed Senate Bill 1170, which “requires” counties to issue credits for 201H housing projects. The city’s Planning and Permitting director called the benefit “double dipping” for developers. Should this program, which was not submitted (or opposed) by HHFDC, be reconsidered?

The program is intended to provide a source of equity for affordable housing projects. There are very few programs that provide assistance to affordable for-sale housing projects, so from that standpoint we support the program, as it may enable stalled projects to move forward. On the other hand, credits may be used by other developers in lieu of actually building affordable housing.

We need to give the program a couple of years to operate, to see if it does spur new affordable housing projects and gauge impact the credits have on other housing developments.

THE BIO FILE: Dean Minakami

Title: Executive director, Hawaii Housing Finance and Development Corp.

Professional: Lifelong planner. HHFDC, 2019-present; senior planner, Alexander & Baldwin; policy analyst, City and County of Honolulu. Past president, American Planning Association, Hawaii chapter.

Education: Master of urban and regional planning, bachelor of science in economics, University of Hawaii-Manoa

Hobby: Fishing!

One more thing: HHFDC will participate in City Council member Andria Tupola’s “Priced Into Paradise Expo,” 9 a.m.-3 p.m. Oct. 26 at Neal S. Blaisdell Exhibition Hall. Learn more about how a kamaaina family can purchase their first home: pricedintoparadise.com.