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Local banks take lead on offering mortgage forbearances to Maui homeowners [MauiNow]

Local banks take lead on offering mortgage forbearances to Maui homeowners [MauiNow]

American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank, and Central Pacific Bank joined Hawaiʻi Community Lending, a Hawaiʻi-based nonprofit community development financial institution, in taking a pledge to provide mortgage forbearances to Maui families impacted by the recent wildfires.

A mortgage forbearance is a temporary pause on monthly payments and typically provided when a borrower has undergone a financial hardship. The accrued principal and interest is placed on the back end of the loan.

As part of its Maui Response and Recovery Strategy, Hawaiʻi Community Lending contacted 51 mortgage servicers locally and nationwide, calling on them to follow federal guidance on providing mortgage forbearances to Maui residents after President Biden’s national disaster declaration issued on Aug. 10. By taking the pledge, servicers agree to provide Maui homeowners with mortgage forbearance for 90 days and up to 12 months depending on individual homeowner needs.

Local banks American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank and Central Pacific Bank were the first servicers to take the pledge. Their leadership prompted national servicers, Servbank and Homestreet Bank, to follow suit.

“We mahalo American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank and Central Pacific Bank for standing with our Maui ʻohana at this critical time,” said Jeff Gilbreath, Hawaiʻi Community Lending executive director. “It’s often in crises like these that those who are closest to the community step up first to begin the long process of healing, taking care and recovering.”

According to Gilbreath, during a forbearance period, homeowners may not be charged fees, penalties, or interest beyond what they would have been charged had they continued to make all their mortgage loan payments on time and in full. Homeowners may also shorten the forbearance period at any time and request additional assistance beyond the initial forbearance.

“We are heartbroken for all those impacted by the tragic Maui wildfires,” said Ann Teranishi, president and CEO of American Savings Bank. “ASB is well positioned and committed to supporting our community and working with borrowers as families heal and rebuild. In addition to 90-day forbearance and deferment for commercial and consumer loans, we are waiving all ASB Maui ATM fees, and customers can also apply for an emergency personal line of credit.”

“First Hawaiian Bank understands the challenges that many are facing in the wake of the Maui wildfires. Our team is prepared to provide immediate relief and support to help individuals, families and businesses with their recovery efforts,” said Jeffrey S. Ventura, SVP & Residential Real Estate Division Manager of First Hawaiian Bank. “We are providing deferrals for loans and lines, offering relief with credit cards, and have waived ATM fees for individuals on Maui using First Hawaiian Bank ATMs. We are confident the strength of our Maui community will shine through this tragedy, and we will continue to do everything we can to support our customers and community throughout the recovery process.”

“Central Pacific Bank continues to support the rebuilding efforts of the Maui community in many ways: from the deferral of our customers’ residential, consumer and business loan and line payments to completely standing up our Lāhainā Branch in 20 days to serve the financial needs of our customers,” said Rusty Rasmussen, senior vice president and home loans division manager of Central Pacific Bank. “We will look at more innovative ways to support the rebuilding efforts. We continue to grieve for the Maui community, but are confident that our unique culture, collaboration and the strength of the human spirit will ultimately get us through this challenge.”

“It is our honor to sign this pledge. Bank of Hawai‘i has been part of the Lāhainā community for over 90 years, and we stand shoulder-to-shoulder with our customers during these challenging times,” said Rian DuBach, SVP and Maui Commercial Banking Center Director. “With unwavering support, we launched programs to offer financial relief, including mortgage deferrals and loan extensions, immediately after this devastating tragedy. While all Maui residents are eligible for these programs, to further assist Lāhainā residents who have lost their homes in the fire impact zone, Bank of Hawai‘i is providing automatic six-month mortgage forbearances to those impacted customers, with an option for up to 12 months forbearance. We are here to support our Maui neighbors and encourage those who need financial assistance to reach out to Bank of Hawai‘i.”

If you are a Maui homeowner unable to pay your mortgage due to the disaster, you have several options:

1) Find your mortgage servicer below and call their phone number to request a forbearance:

– American Savings Bank: 808-846-4626
– Bank of Hawaii: 808-643-3888
– Central Pacific Bank: 808-871-0505
– First Hawaiian Bank: 808-844-4178
– Servbank: 1-866-867-0330
– Homestreet Bank: 1-800-237-3194
– All homeowners with USDA Direct or Guaranteed mortgages will receive additional support, including a six-month moratorium on foreclosure actions and up to 12 months of forbearance.

2) Contact a HUD-certified housing counselor. You can find a counselor near you by visiting www.HUD.gov/Hawaii and clicking Talk To A Counselor.

3) Request a mortgage forbearance by visiting www.HawaiiCommunityLending.com to download a form fillable letter to Request a Mortgage Forbearance. With the support and leadership of local financial institutions, Maui families who have lost their homes in the fires can begin the long process of recovery and rebuilding. See full article at MauiNow.

About Chanel Josiah

Chanel was born and raised on Oʻahu and now resides on Kaua’i with her husband and seven children. As a 5th-generation Hawaiian Home Lands lessee and homeowner, she has firsthand knowledge of the challenges families face in accessing housing, financial opportunities and resources both on and off homesteads. Her lived experiences and professional expertise inspire her passion for supporting others and strengthen her commitment to helping local and native Hawaiian families secure and sustain homes on their ancestral ‘āina, building lasting stability for themselves and generations to come.

Chanel also serves as the Board President of Pa‘a Lima, a nonprofit organization that offers support services and education to address houselessness, mental health challenges, financial literacy, and income instability. The organization is committed to breaking generational cycles and changing lives, with a special emphasis on supporting youth aging out of foster care.

As Operations Director, Chanel oversees marketing, community engagement, technical assistance, and operations. A key aspect of her role is connecting directly with communities to understand their needs and challenges. Drawing on her personal and professional experiences, Chanel approaches these challenges holistically, blending diverse perspectives to create innovative strategies that drive meaningful and lasting change for the communities she serves. “I’m grateful to be able to share our organization’s moʻomeheu (culture), moʻolelo (story) and kaunu (passion) with communities across Hawaiʻi, partners and investors who believe in the work we do.”

Chanel is inspired by her keiki, motivating her dedication to ensuring they can build their futures here in Hawai’i. She is also inspired by her tūtū kāne, Robert William Kalanihiapo Wilcox. “He was a fearless kānaka ‘ōiwi champion who encompassed the spirit of aloha ‘āina – the love of his land, and home just as we do now.” Outside of work, Chanel enjoys reading, practicing hula, and spending time at the beach with her ʻohana.

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About Aikū’ē Kalima

Aikū’ē Kalima, former Native Hawaiian Revolving Loan Fund Manager for the Office of Hawaiian Affairs, joins Hawaiʻi Community Lending as its lending director.
Kalima comes to HCL with more than 25 years of experience in community development and mortgage lending. In his new position, Kalima will direct HCL’s consumer, construction, mortgage and small business lending.
“As a native Hawaiian and Hawaiian Home Lands beneficiary, I understand the financial needs for economic development and quality housing for kānaka is great,” said Kalima, who led OHA’s deployment of $9.8 million in loans to 286 native Hawaiians statewide over the last five years. “For over 25 years, I have worked tirelessly at the grassroots level, educating kānaka on the skills necessary to achieve the dream of homeownership and providing resources to achieve financial sustainability. I plan to continue serving the lāhui empowering ‘ohana and communities as the lending director for Hawai‘i Community Lending.”
Kalima takes the reins of HCL’s $16-million revolving loan fund and will oversee a team of seven staff members statewide. “HCL is honored to have Aikū’ē join us in our mission to help tackle our housing crisis by funding native Hawaiian and local families to build, buy and save homes from foreclosure,” said HCL Executive Director Jeff Gilbreath. “He has proven leadership in both the public and private sectors and has the passion to get families on the land through homeownership.”

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About Sean

Sean Perez loves hearing about the great things Hawai‘i Community Lending is doing for the Hawaiian community. And now as HCL’s new director of finance, he is excited to be part of the team making it happen.

“I enjoy hearing the success stories of new homes that we will soon be building and finding for these families,” he says. “HCL’s mission resonates well with me and my passion to help others and assist our community.”

To this end, Sean will manage HCL’s finances, accounting, compliance, and information technology matters; working with HCL Executive Director Jeff Gilbreath and supervising three division managers. He comes to HCL with over eight years of experience in financial management in the nonprofit and private, for-profit sectors having worked in the legal, social service, health, and telecommunications industries as well as with the US Attorney’s Office of Guam and CNMI. In his previous job as director of operations for the Hawai‘i State Bar Association where he was responsible for directing the organization’s finances, Sean grew his experience in nonprofit financial management and gained extensive background in accounting, grants management, IT and human resources. These skills, in conjunction with his drive to work with the Hawai‘i community through nonprofit assistance, led Sean to HCL.

Currently living in Honolulu, Sean was born in Tamuning, Guam. When he was 10 years old, he moved to Oxnard, Calif., where he attended school and eventually community college. The Air Force Reserves beckoned him after graduation, leading him to serve three and a half years as an aircrew flight equipment technician at March Air Reserve Base. After his military service, Sean returned to his childhood home of Guam, where he went to college to obtain a degree in finance and economics, and then to pursue an MBA.

On O‘ahu, Sean enjoys family life with his fiancée and toddler son; fishing and surfing in his time off. “I look forward to accomplishing great things with HCL and creating new success stories,” he says.

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About Nikki

Nikki Hollern is a mother of five, born and raised in Upcountry Maui, but she spent the last 15 years in the beautiful town of Lahaina. Lahaina stole her heart, with the people and the town being unlike any other. After the fire, her family had to relocate to Kahului.

Her heart remains in Lahaina, and her goal is to help this amazing community get back to where they belong. She feels blessed to have the opportunity to be part of the HCL ‘ohana, helping navigate this incredibly hard time and hopefully serving as a guiding light to assist the community in returning home and coming back even stronger.

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