Aging in Place in Hawaii: How Reverse Mortgages Support Seniors (2025 Guide)

Aging in place is especially important here because:

• Ohana is central to daily life
  Many kupuna live near or with family.
• Hawaiʻi homes carry deep generational meaning
  Land and homeownership are connected to identity and legacy.
• The average cost of assisted living in Hawaiʻi is high
  Often 20–40% more than mainland averages.
• Home care services can cost thousands per month
  Reverse mortgages help fund this without selling the home.
• Kupuna want independence
  Aging in place allows seniors to remain active and close to the community.

1. Eliminating Monthly Mortgage Payments

For many seniors, a mortgage payment is their biggest monthly expense.

A reverse mortgage removes the monthly payment, replacing it with:

• More cash each month
• Lower stress
• Easier budgeting
• Freedom to reallocate funds to food, medical care, or caregiving

The homeowner must keep paying property taxes, insurance, and basic maintenance, but no mortgage payment is required.

3. Paying for Home Care or In-Home Support Services

Hawaiʻi’s home care costs can be high, especially on Oʻahu and Maui.

Reverse mortgage funds often support:

• In-home caregivers
• Home health aides
• Transportation
• Meal support
• Safety upgrades
• Medical devices

This allows kupuna to stay at home longer instead of moving to a care facility.

5. Supporting Multigenerational ʻOhana Living

Hawaiʻi averages one of the highest rates of multigenerational households in the U.S.

Kupuna may use a reverse mortgage to support ʻohana living, including:

• Building or improving an ohana unit (ADU)
• Helping adult children contribute to caregiving
• Improving home safety for grandchildren
• Funding shared expenses

Reverse mortgages can be a way to strengthen family stability while honoring kupuna.

7. Protecting Retirement Savings

Instead of burning through limited savings or 401(k) funds, kupuna can use home equity:

• To delay taking Social Security
• To preserve retirement savings
• To avoid penalties or taxes
• To manage rising medical or prescription costs

This is a common long-term strategy recommended by many financial planners.

Many Oʻahu, Maui, and Big Island condos qualify through:

• FHA approval
• Single-Unit Approval
• Jumbo reverse mortgages

Hawaiʻi kupuna living in condos often use reverse mortgages to:

• Handle HOA dues
• Fund repairs in older buildings
• Reduce monthly expenses

Learn more about condo reverse mortgage in Hawaii

Kupuna can choose the option that best fits their needs:

• Monthly payments
  Ideal for covering everyday expenses.
• Line of credit
  Best for emergencies or long-term planning.
• Lump sum
  Useful for paying off a remaining mortgage.
• Combination
  Most flexible option.

Try our free reverse mortgage calculator Hawaii

A reverse mortgage may be a good fit if:

• You want to stay in your home
• Your mortgage payment is a burden
• You need extra monthly income
• You have limited savings
• You want to support ʻohana caregiving
• Your home is your biggest asset
• You want to avoid selling or downsizing

If this describes you, a reverse mortgage may help you age in place comfortably.

If you prefer personal guidance, you may speak with local Hawaiʻi mortgage professional Percy Ihara.

He can help you:

• Review your property type
• Check condo or leasehold approval
• Compare HECM vs. Jumbo
• Talk with your ʻohana
• Understand your estimate

Always optional.
Always warm and respectful.

A reverse mortgage can be a safe, practical way for Hawaiʻi seniors to age in place — with flexibility, independence, and peace of mind.

It isn’t the right choice for everyone, but for many kupuna, it provides the support they need to stay in the home they love.

Start Your Free Estimate