In Hawaiʻi, soaring prices and limited availability have turned homeownership into a distant dream for many young adults. The Kiakonas are proving that with family support, homeownership is still within reach. In partnership with the Hawaiʻi Housing Finance and Development Corporation (HHFDC), the dream of owning a home at Kuilei Place is becoming a reality for young buyers.

The Challenge of Owning a Home in Hawaiʻi

Hawaiʻi’s stunning landscapes and rich cultural heritage make it a desirable place to live, especially for young people who want to stay close to their families—a cornerstone of our culture. However, young adults face significant challenges when it comes to homeownership. With Honolulu’s median home price among the highest in the nation, many first-time buyers struggle to save enough for a down payment or qualify for a mortgage. Hawaiʻi also ranks lowest in the nation for homeownership rates among people aged 25 to 34, with only 23% owning homes compared to the national average of 37%.

Meet the Kiakona ʻOhana

For Kaena Kiakona, the eldest of two children, owning a home in Honolulu seemed way out of reach. “The housing market in Hawaiʻi is tough, and being early in my career, I couldn’t afford it,” Kaena explains. “Owning a home was always the goal, but it wasn’t possible until the opportunity at Kuilei Place came along.”

His parents, Keliʻi and Lisa Kiakona, felt it was the right time to help. “We purchased our first home in our early 30s, so when this opportunity came up for Kaena, we wanted to support him in achieving homeownership even sooner,” said Lisa. “In doing so, we’re helping him build equity instead of paying rent. It’s a way for us to contribute to his financial independence and teach him the value of property ownership early in life.”

How Family Can Make Homeownership Possible

The Kiakonas utilized the benefits of the HHFDC program and a combination of strategies to support Kaena:

• Accessible Financing: The HHFDC program at Kuilei Place requires only a 5% deposit, significantly less than the standard 20%, making it easier for young buyers to enter the market.
• Co-signing the Mortgage: Keliʻi and Lisa co-signed to help Kaena secure a mortgage he wouldn’t have qualified for alone. Co-signing increases the chances of loan approval and can lead to better interest rates.
• Gift Funds from Loved Ones: The HHFDC program allows family and friends to contribute funds, making it easier for young buyers to qualify for their loan. “When we bought our first home, family helped us with the down payment, and it made all the difference. We wanted to do the same for Kaena,” Lisa shares.

Kaena expressed his gratitude for his parents’ help, emphasizing the significance of their support. “I was super excited and grateful when my parents offered to help. This is a once-in-a-lifetime opportunity, and I’m extremely appreciative that they helped me take advantage of it,” he says.

A Successful Journey to Homeownership

Kaena is now a proud homeowner at Kuilei Place, a vibrant community in the heart of Honolulu. “We met with our sales associate Kendra to select the best unit for me, and with my parents’ help, I navigated the loan process,” Kaena recalls. “Finally, signing for my own home felt surreal—I couldn’t have done it without them.”

For Lisa, watching Kaena make his selection was a special moment. “Seeing him choose his own home on the Kuilei Place map made the process feel real. It was a moment of pride for us,” she says. Another emotional moment for Lisa came while witnessing another family’s experience. “The person in front of Kaena brought his grandma with him, and she cried as he chose his unit. Her tears reflected the pride and dreams she had for her grandson, and witnessing that moment was so touching for us as well.”

The Importance of Family Support

For Kaena, homeownership is not just a financial milestone—it’s a deeply personal achievement. “Owning a home is a huge accomplishment and something I’m very proud of,” he says. “It means I can live where I was born and raised, and stay connected to a place that holds so much meaning for me.”

Lisa reflects on the long-term impact of their support. “Kaena owning a home in Hawaiʻi is a major achievement, especially given our state’s high cost of living,” she says. “It’s teaching him the ins and outs of home-buying and preparing him for future investments.”

For the Kiakonas, supporting Kaena goes beyond helping him achieve homeownership—it’s about instilling valuable life lessons. “We’ve raised both our sons to understand that their actions have consequences—both positive and negative,” Lisa explains. “Kaena has always been self-motivated, responsible, and hardworking. Helping him in this way is our way of acknowledging his good decisions and hard work.”

Lisa, who is a public school teacher, advises other parents to think deeply about the significance of such support. “Don’t just make life easier—teach them the responsibilities and rewards of homeownership. The real gift isn’t just the home, but the lessons in financial commitment and independence.”

As Lisa sums up, “This is our legacy. Helping Kaena buy a home is a gift that will benefit him for years to come.”

For more information on our HHFDC residences at Kuilei Place, please contact a sales associate today. Take the first step toward securing a home for yourself or helping a loved one do the same!