As low as 6.50% APR* fixed for 2 years

Our competitive rates helps you save money as you accomplish your goals

View full disclosure. Price reflects all earnable discounts.

Pay interest only for the first 10 years

You won't be stuck with interest chargers over the entire term

Take up to 20 years to repay your balance

This follows the initial interest-only time period

Make advances, repay, and advance money again

Access the money you need anytime during the initial draw period

Take on life's big projects with a HawaiiUSA Federal Credit Union HELOC.

Your home can hold the key to providing the financing you need

  • Ideal for financing a major purchase, remodeling your home remodel, paying education-related expenses, consolidating debt, and more
  • Open a line from $10,000 to $1 million
  • Available for primary residences, second homes, and investment properties

Other HELOC Programs

  • Second Home HELOCs and HELOC Plus (up to 90% LTV) products are available. Please contact HawaiiUSA FCU at 808.534.4300 or visit one of our convenient branches for rates and details.

Interest-Only HELOC Rates

Initial Fixed HELOC Term Initial Fixed Interest Rate (APR*) Current Variable Interest Rate (APR***)
2 Year HELOC7.50%9.00%
5 year HELOC8.50%9.00%

* A .50% rate discount applies for lines in 1st lien position. A .10% discount will be given for each full year as a HawaiiUSA member, up to 5 years, maximum .50% rate discount. Discounts are applied to the initial fixed rate. HawaiiUSA membership defined as an active, primary Prime Share account holder in good standing.

** After the Initial Fixed Term, the annual percentage rate will be based on the value of an index plus a margin. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal. The annual percentage rate may vary on a quarterly basis with a maximum of 18.00% or the maximum permitted by law, whichever is less. You must pay certain fees to open the plan. These fees generally total between $400.00 and $1,400.00. There is no annual fee or prepayment penalty. You must carry insurance on the property securing the plan. If the property is located in a Special Flood Hazard area we will require you to obtain flood insurance. LTV up to 80%. HawaiiUSA Membership is required. Other restrictions may apply. Rates are effective February 1, 2024 and subject to change at any time.

Interest-Only Jumbo HELOC Rates

Initial Fixed HELOC Term Initial Fixed Interest Rate (APR) Current Variable Interest Rate (APR††)
2 Year HELOC7.50%9.00%
5 year HELOC8.50%9.00%

A .50% rate discount applies for lines in 1st lien position. A .10% discount will be given for each full year as a HawaiiUSA member, up to 5 years, maximum .50% rate discount. Discounts are applied to the initial fixed rate. HawaiiUSA membership defined as an active, primary Prime Share account holder in good standing.

†† After the Initial Fixed Term, the annual percentage rate will be based on the value of an index plus a margin. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal. The annual percentage rate may vary on a quarterly basis with a maximum of 18.00% or the maximum permitted by law, whichever is less. You must pay certain fees to open the plan. These fees generally total between $400.00 and $1,400.00. There is no annual fee or prepayment penalty. You must carry insurance on the property securing the plan. If the property is located in a Special Flood Hazard area we will require you to obtain flood insurance. LTV up to 75%. HawaiiUSA Membership is required. Other restrictions may apply. Rates are effective February 1, 2024 and subject to change at any time.

Interest-Only Investor or Second Home HELOC Rates

Initial Fixed Term Initial Fixed Rate (APR) Current Variable Rate (APR‡‡)
2 Year8.00%10.50%
5 Year9.00%10.50%

 A .50% rate discount applies for lines in 1st lien position. A .10% discount will be given for each full year as a HawaiiUSA member, up to 5 years, maximum .50% rate discount. Discounts are applied to the initial fixed rate. HawaiiUSA membership defined as an active, primary Prime Share account holder in good standing.

‡‡ After the Initial Fixed Term, the annual percentage rate will be based on the value of an index plus a margin. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal. The annual percentage rate may vary on a quarterly basis with a maximum of 18.00% or the maximum permitted by law, whichever is less. You must pay certain fees to open the plan. These fees generally total between $400.00 and $1,400.00. There is no annual fee or prepayment penalty. You must carry insurance on the property securing the plan. If the property is located in a Special Flood Hazard area we will require you to obtain flood insurance. LTV up to 75%. HawaiiUSA Membership is required. Other restrictions may apply. Rates are effective February 1, 2024 and subject to change at any time.

Interest-Only HELOC Plus

Initial Fixed Term Initial Fixed Rate (APR) Current Variable Rate (APR§)
N/AN/A10.50%

§ The annual percentage rate will be based on the value of an index plus a margin. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal. The annual percentage rate may vary on a quarterly basis with a maximum of 18.00% or the maximum permitted by law, whichever is less. You must pay certain fees to open the plan. These fees generally total between $400.00 and $1,400.00. There is no annual fee or prepayment penalty. You must carry insurance on the property securing the plan. If the property is located in a Special Flood Hazard area we will require you to obtain flood insurance. LTVs up to 90%. HawaiiUSA Membership is required. Other restrictions may apply. Rates are effective February 1, 2024 and subject to change at any time.

Make sure you have these items so we can process your request:

Home Equity Line of Credit application
Completed Home Equity Line of Credit application with signature(s) and date.
Income verification
  • Copy of most recent pay stubs showing year to date earnings and pay period (1 full month, consecutive).
  • Two years most recent W-2 forms.
  • Two years most recent signed and dated Federal Tax Returns. Include all schedules. (if self-employed or have rental, investment, or other income, and as applicable)
  • Please note that additional income verification may be requested.
Mortgage(s) statement
Copy of mortgage(s) statement showing outstanding balance on the property that will be used as collateral.
Insurance policies
Copy of homeowner, hurricane, and flood insurance (if applicable) policies.
Trust documents
If property is in a trust, copies of long form trust documents along with all amendments.
Current statements
If this request is for a bill consolidation, enclose full copies of your current statements and write down your entire account number on your current statements. Please remember, you must continue your regular monthly payments until your loan has been finalized and proceeds have been disbursed.
Homeowners dues/Maintenance fees
Copy of monthly Homeowners Association dues and/or Maintenance fees (if applicable).
Signed attached application disclosures:
  • Information Authorization
  • Home Equity Line of Credit Borrowers’ Agreement
  • Notices to Real Estate Mortgage Loan Applicant
  • E-Sign Act Consumer Disclosure
  • Homeownership Counselor Contact Information

    HELOC Frequently asked questions

    A home equity loan is secured against your home’s value, which usually means interest rates are much lower than other unsecured loans, such as a credit card or personal loan. Depending on your tax situation, you may be able to deduct the interest on your taxes, just as you do with your primary mortgage (consult your tax adviser for advice specific to your situation).

    A HELOC functions like a home equity loan, but you only draw from it as you need it. And with a HELOC, you make payments only on what you borrow. With a lump sum home equity loan, you have borrowed the full amount you asked for, even though you didn’t end up needing all of it, and you’ll be making payments on that full loan amount. As other things come up during the draw period, you could use the remaining credit limit in your HELOC to cover those needs without applying for a new loan.

    To break it down even further, with an interest-only HELOC, you only pay interest during the draw period, typically ten years. During the ten years, you can draw from the line of credit and make payments based only on the interest of what you’ve borrowed. After the ten years, you can no longer draw on the line of credit, and your payments will include both principal and interest (the principal is the amount of money you’ve borrowed. This amount may or may not be the same as the amount of your line of credit, depending on how quickly you use the funds.)

    • Calculate your home's equity
    • Make sure you have the required items needed to process your request
    • Tell us about yourself
    • Complete your application