PACE Loans in Honolulu and the State of Hawaii

Skyline of Honolulu, Hawaii

PACE Equity Funds Local Developments

PACE Equity serves Honolulu and the state of Hawaii with commercial real estate financing using Commercial Property Assessed Clean Energy (C-PACE) loans. The state of Hawaii allows this financing option to encourage energy efficiency in the local building stock. The C-PACE financing can be used for new construction, redevelopment, renovation, refinancing, and renewable energy projects. Our firm provides C-PACE loans for up to 30% of the capital stack (or 100% for solar and other renewable energy projects). Since 2014, PACE Equity has funded well over 200 PACE projects with a focus on delivering improved return on equity for our clients.

CIRRUS

PACE Equity also offers an innovative low carbon C-PACE financing option called CIRRUS Low Carbon which combines C-PACE financing with a green building designation. The program provides financial benefits, including a substantial rate reduction, for pursuing enhanced energy efficiency. This efficiency improves the carbon footprint of the building which makes it more appealing to your tenants. We even help you by coaching you through the design changes necessary to secure the lower rates.

PACE Financing Expert

Hawaii Managing Director

Ron Adachi is our Hawaii Managing Director. Ron has been working for the last 15 years in commercial real estate brokerage, real estate development, hospitality, and EB-5 financing. To PACE Equity, he brings expertise in hospitality as our Vice President of Hospitality. Reach out to him to schedule a meeting and discuss your next project.

Local PACE Programs

Hawaii’s C-PACE program, under the Hawaii Green Infrastructure Authority (HGIA), provides financing for eligible energy, water, and seismic improvement with non-recourse financing with an amortization of up to 30 years and retroactive refinancing up to 36 months. Additional resiliency measures such as hurricane mitigation, sea level rise protection, and flood mitigation are also eligible for PACE Equity financing. As of May 2024, condominiums are eligible for C-PACE financing. PACE Equity’s experienced Energy Engineering and Building Optimization Teams take care of the energy audit and program application. Our streamlined process carries you through from end-to-end.

Relevant PACE Equity Case Studies for Honolulu and the State of Hawaii

Here are some recent case studies of projects you might find interesting. We’ve got more project stories that show the many ways we’ve helped deliver PACE financing.