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Construction to Permanent

"This is the GREATEST credit union."

- Claire



A Construction to Permanent Loan is a mortgage loan tailored to help you finance the construction of your new home

Rates as low as 8.50% APR1

Monthly Payment


Why get a Construction Loan from HFS?

With a Construction to Permanent Loan you have the ability to lock in your 15 or 30-year loan rate before the construction on your home begins. You can start building with the confidence of knowing how much your payments will be before construction starts.


Lock in interest rate at the start of construction


Borrow up to 80% of the appraised value


Up to 12 months of interest-only payments during construction phase


Automatically converts to a 15 or 30-year mortgage of your choosing

I'm so happy that my loan is in the hands of my bank that I had for years! Thank you so much!

— Wendy

Additional info


Get one-on-one help today by contacting the Credit Union and asking for a Loan Officer.
View a list of our Mortgage Loan Originators.
Download the Construction Loan Packet

Frequently Asked Questions

  • The property where the construction is taking place must be in the member’s name for at least one month before starting a Construction Loan. If financing is needed, we suggest a Vacant Land Loan to first get the property in your name. Following this time period you may apply for a Construction to Permanent loan.

  • Yes. Upon completion we will ensure that your loan is then converted to a 15 or 30-year mortgage.

  • The term for the construction phase is up to 1 year.

  • One of the benefits of our Construction to Permanent Loan is you can lock in your mortgage rate at the beginning of the construction process.

  • You may visit your nearest HFS office and request a packet or download the documents here. The packet contains the information and documents you’ll need to get started. If you have further questions, please call the Credit Union at (808) 930-1400 or set an appointment with a Loan Officer.


Drop us a message anytime with your questions or schedule an appointment with a loan officer.

  • 1APR= Annual Percentage Rate. Example: 1A 30 year mortgage at 360 payments for the permanent phase with an annual percentage rate of 7.000% (interest rate of 7.000%). The construction phase would then have an interest only rate of 8.500%, which is equal to a margin of 1.5% over the permanent interest rate of 7.000%. The APR would be 8.500%. Subject to credit approval. Rate may vary based on loan term.

    SAFE Act Information
    On July 28, 2010 the Nation Credit Union Administration (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLOs to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Upon completing this registration, each MLO is provided with a Unique Identifier number from the NMLS. An MLO must provide this Unique Identifier number to each mortgage loan applicant upon request and prior to the employee acting as an MLO.

    Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawai’i. A minimum opening balance of $50.00 is required to open a Savings Account.



    Member will be responsible for all expenses incurred to secure the loan. This includes an initial deposit of $800.00 to defray expenses for:

    • Appraisal fee(s)
    • Residential Mortgage Credit Report(s)
    • Inspection fee(s)
    • Flood Certification fee(s)
    • Other incidental expenses that may be incurred to secure the loan.

    Note: Member will pay before final closing, any outstanding expenses exceeding the $800.00 deposit. Member will be refunded any balance of the $800.00 initial deposit at first disbursement, or any balance can be applied to escrow costs.

Fraudulent Text Messages claiming to be from HFS are being sent. If you received a text and are unsure of its legitimacy, please contact the credit union.