Hawaii Investor Loans — NONI Program
Hawaii has one of the most specialized investor mortgage markets in the country. Very high purchase prices, strong short-term rental demand from tourism, and significant foreign-national investor activity shape the lending landscape. We serve Hawaii investors through our NONI program, which is the DSCR-style investor loan available in Hawaii per our wholesale partner’s state coverage.
NONI qualifies investors on the property’s rental income — same core premise as DSCR — with the added advantage of higher loan amounts (up to $3.5M), no ownership seasoning on cash-out refinance, and a dedicated foreign-national program. All three attributes are especially relevant for Hawaii’s premium pricing and international investor base.
Check Eligibility Talk to a Hawaii Investor Loan Specialist — (833) 350-9185Why NONI (Not Standard DSCR) in Hawaii
Standard DSCR programs from most wholesalers are not offered in Hawaii. Our wholesale partner specifically designates Hawaii as NONI-only. NONI (No Income, No Assets) is a premium tier of DSCR-based lending designed for experienced investors and high-balance properties — which aligns well with the Hawaii market.
Key NONI advantages for Hawaii:
- Loan amounts up to $3.5M — necessary for Oahu, Maui, and Big Island premium markets
- No ownership seasoning on cash-out refi (DSCR 1.15+) — useful for cash-purchased Hawaii properties
- Dedicated foreign-national program — accommodates significant international investor activity
- 85% LTV on purchases with 700+ FICO — higher leverage than many DSCR programs
- LLC vesting — standard for Hawaii investor structuring
How Hawaii Investors Use NONI Loans
Oahu condo investment. Waikiki, Ala Moana, Kakaako, and Diamond Head condo markets attract long-term and short-term rental investors. Prices are high; rents compete with prices; STR regulations vary by zone. NONI’s high LTV and no-seasoning cash-out features serve this market well.
Maui vacation rentals. South Maui (Kihei, Wailea) and West Maui (Kaanapali, Lahaina rebuild areas) have premium vacation rental markets. STR-capable NONI uses 12-month Airbnb/VRBO history or AirDNA projections. Local STR regulations have tightened — always verify permit status before underwriting STR income.
Big Island diversity. Kona-Kohala Coast luxury rentals; Hilo long-term rentals; volcanic areas with specific insurance considerations. Price points span widely.
Kauai boutique market. Princeville, Poipu, Hanalei command premium STR pricing with very limited supply.
Foreign-national investing. Hawaii attracts substantial Japanese, Korean, Canadian, and Chinese investor activity. Our NONI foreign-national program requires no U.S. credit, no U.S. income, and accepts reserves from foreign accounts.
NONI Program Requirements (Hawaii)
- Loan amounts: $100,000 – $3,500,000
- Minimum FICO: 620 (U.S. borrowers); foreign-national program waives U.S. credit requirement
- Purchase LTV: Up to 85% (700+ FICO); 75% foreign national
- Cash-out LTV: Up to 75%; no seasoning required at 1.15+ DSCR
- DSCR minimum: 1.00 (0.75 available on SuperNONI variant)
- Property types: 1-4 unit residential investment, condo (non-warrantable OK)
- Income docs: None
- Vesting: Personal name or LLC
- Term: 30-year fixed, 40-year IO options
Hawaii-Specific Considerations
STR regulations are strict and evolving. Honolulu, Maui County, and Kauai County have all tightened STR rules over the last several years. Registration requirements, zoning restrictions, and in some cases outright STR prohibitions in residential zones. Confirm each property’s STR legality BEFORE making an offer.
High insurance costs. Hurricane, volcanic, and property insurance in Hawaii run higher than mainland averages. Factor into PITIA.
Leasehold vs fee-simple. Some Hawaii properties (especially older Oahu condos) are on leasehold — you own the structure but lease the land. Leaseholds complicate financing and underwriting. Confirm fee-simple status before underwriting.
AOAO (condo association) considerations. Hawaii condos typically have robust AOAO (Association of Apartment Owners) governance. Some AOAOs restrict STR use, owner-occupancy, or have specific reserve requirements that affect lender review.
Frequently Asked Questions
Get Started
Looking at Hawaii investment property? Call (833) 350-9185 or check NONI eligibility .
See also: full NONI program · main DSCR page (mainland states) · commercial real estate loans
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