GROUND-UP CONSTRUCTION · Hawaii (HI) Underwriting Matrix · Stephen R. Mannenbach, J.D., MBA

Hawaii Ground-Up Construction Loans (Spec Homes, Duplex/Fourplex & Build-to-Rent) — 2026 Rates, LTV Caps & State Rules

Hawaii Ground-Up Construction provide business-purpose real estate investors with Up to 85% LTC / 70%–75% Completed ARV across loan amounts from $100,000 – $15,000,000+ at 9.75% – 11.75% Interest-Only on Drawn Funds (12 – 24 Months Interest-Only, 660+ FICO min FICO, 14 – 21 Business Days close). In Hawaii (HI), lenders underwrite to a Judicial (Primary) / Non-Judicial Statutory statutory framework (190–280 days-day average timeline), a 0.31% average property tax rate (~$205/mo at the $795,000 state median), and $520/$100K hazard insurance (~$345/mo).

Max Leverage / LTC
Up to 85% LTC / 70%–75% Completed ARV
Min FICO: 660+ FICO
2026 Rate Band
9.75% – 11.75% Interest-Only on Drawn Funds
12 – 24 Months Interest-Only
HI Security Instrument
Judicial (Primary) / Non-Judicial Statutory
190–280 days days avg timeline
HI Avg Tax & Ins
0.31% Tax
$520/$100K Hazard Ins

Need help?

Chat Now(480) 485-1229
Hawaii Ground-Up Construction (2026) — Up to 85% LTC / 70%–75% Completed ARV, 9.75% – 11.75% Interest-Only on Drawn Funds | Stephen R. Mannenbach | Stephen Mannenbach