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Home ownership has always been a central image of the American dream. This is just as true in Hawaii as it is in other parts of the United States. However, for reasons that are special to our state, home ownership for the typical family is perhaps more difficult for us to achieve than in most other places.

We local bankers are acutely aware that those who wish to purchase a home in Hawaii often must overcome obstacles of income and housing prices to make their home ownership dream come true. Because we understand Hawaii, we work to bring down barriers that often stop typical mainland American lending institutions from making a needed loan. Banks, as opposed to mortgage brokers whose roles are different, have their own money to lend and can be flexible and innovative with their products. In Hawaii, you get a major extra benefit when it is a local bank. Let me show you what I mean.

A customer came to our bank after another lending company was unable to fulfil their promise of a low down payment (3%) for a property the customer was attempting to purchase. With the high cost of living and housing in Hawaii, saving is difficult. We do not feel that these common realities should prevent home ownership among those who are otherwise qualified. In my example here, the Bank of Hawaii was able to listen to the unique circumstance of this buyer and present a customized product not readily available in the Hawaii market. The product allowed for the 3% down payment and low closing costs. We were able to make the loan for this customer who is now a happy homeowner. This is one example of how we are able to adapt to local needs because we are local ourselves.

We show our ability to adapt to the Hawaii market in other ways, too. For example, we understand the most difficult purchase in a person's lifetime is usually their first home. Thus not only are we able to offer low down or no down loans in many cases. When a buyer is a first time buyer, we can usually provide him or her with very reasonable, discounted residential mortgage rates it would be hard to find anywhere else--and extra low loan costs, as well.

This is why we say Making Home Ownership In Hawaii A Reality is one of the ways we local lenders pay Hawaii back--every day of the week--for providing us all such a lovely home!