Hawaii Commercial Real Estate Loans
Hawaii Commercial Real Estate Loans$150K to $100M
I arrange Hawaii commercial real estate loans for investors, sponsors, and developers, from a single Waikiki retail bay to a $100M resort or workforce-housing project. Land is scarce, entitlements are slow, and island deals reward the closer who can move… so when you are searching for Honolulu commercial real estate loans with real capital behind them, you found me. Banks hand out umbrellas when the sun is shining, not when you are weathering the storm. I bring the capital partner who closes Hawaii commercial real estate loans when the bank will not.
If you are comparing Hawaii commercial real estate loans, start here. I arrange Hawaii commercial real estate loans for purchase, refinance, construction, and bridge across all 50 states, with Honolulu commercial real estate loans at the center of my island volume. The short version on Hawaii commercial real estate loans: on islands where capital is cautious and timelines are tight, the deal goes to whoever can actually fund it. Most banks cannot. I can. That is the whole case for working Hawaii commercial real estate loans through me instead of a local branch.
The Property Types I Finance in Hawaii
Whatever you are buying, building, or refinancing, I have a lender for it. Hawaii commercial real estate loans run through all eight of these lanes, each tied to the national program page so you can dig into structure, leverage, and timing. Pick your asset and the Hawaii commercial real estate loans behind it follow. Every one of these lanes is a Hawaii commercial real estate loans program I actively place.
Multi-Family Apartment
Hawaii runs one of the tightest housing markets in the nation, and Oahu’s chronic shortage keeps rents and occupancy high. I fund Hawaii multi-family loans on acquisition, refinance, and value-add, from a small Honolulu walk-up to workforce-housing projects that keep resort and service staff on-island.
View multi-family loans →Warehouse and Industrial
Every container that feeds Hawaii lands at Honolulu Harbor, which makes industrial space near Campbell Industrial Park and Kapolei some of the scarcest, steadiest cash flow in the state. I finance distribution, cold storage, and last-mile facilities that keep the island supply chain moving.
View warehouse and industrial loans →Office Building
Downtown Honolulu’s central business district and the medical-office corridors around the major hospitals still trade where the tenant story is strong. I underwrite Hawaii office acquisitions and refinances on the lease, not just the address.
View office building loans →Office Condo
On islands where owning anything is hard, the office condo plus SBA 504 combination is one of the strongest owner-user plays for Hawaii practices and small firms that want to own their suite instead of rent it. These are among the most requested Hawaii commercial real estate loans I arrange.
View office condo loans →Retail and Strip Mall
Hawaii retail lives on two engines at once: 1.4 million residents and roughly 10 million annual visitors. I finance neighborhood centers serving local rooftops and tourist-facing retail in Waikiki and the resort corridors where foot traffic never really stops.
View retail and strip mall loans →Flex Building
Flex space is genuinely scarce in Hawaii, which is exactly why it holds value. It pairs with the islands’ contractor, marine-services, and military-support economy. I fund multi-tenant and owner-user flex around Kapolei, Campbell, and the Oahu industrial core.
View flex building loans →Construction / Development
Entitlements are slow and buildable land is limited, so ground-up in Hawaii rewards the sponsor who lines up capital early. I structure construction and development financing, including the resort, mixed-use, and Kapolei master-planned deals, with an LTV/LTC blend up to 90% on qualified large deals.*
View construction and development loans →Self Storage
Small living spaces, dense housing, and constant military rotation make self storage one of the steadiest cash-flow plays in Hawaii. I lead these with SBA 504 for owner-users, acquisition and ground-up alike, and they remain some of the most dependable Hawaii commercial property loans in the state.
View self storage financing →Hawaii Commercial Real Estate Loans: Programs and Speed
Every Hawaii commercial mortgage I place runs on one principle: the faster I see the deal, the faster I put a term sheet in your hands. These are the Hawaii commercial real estate loans programs I run and what to expect on each Hawaii commercial real estate loans option.
| Program | Loan Range | Term Sheet | Close |
|---|---|---|---|
| Commercial Real Estate (acquisition) | $150K to $100M | 3 to 5 days | 21 to 30 days |
| Investment Property | $150K to $100M | 3 to 5 days | 21 to 30 days |
| Bridge Loans | Deal-dependent | 24 to 72 hours | 15 to 30 days |
| Construction / Development | $500K to $100M | 5 to 10 days | 30 to 45 days |
| SBA 504 (owner-occupied CRE) | Up to $5.5M | 5 to 7 days | 45 to 60 days |
| SBA 7(a) (CRE acquisition) | Up to $5M | 5 to 7 days | 45 to 60 days |
| Cashout (free-and-clear property) | $150K to $100M | 3 to 5 days | 10 to 20 days |
Why the SBA 504 Structure Is Different
The SBA 504 is one of the most powerful Hawaii commercial real estate loans for an owner-user, and it is widely misunderstood. Most people think an SBA 504 loan is a bank loan with a government program attached to it. It is not. The SBA 504 is structured differently from any conventional CRE loan, and that is exactly why it works the way it does.
Here is the actual mechanic:
The bank provides the first lien at typically 50 percent of the project. The SBA/CDC second-position portion (40 percent) is packaged through the debenture market, where SBA-backed debentures are sold to investors.
In other words, the SBA portion is tied more closely to the bond market than to any conventional bank balance sheet.
A conventional commercial loan is priced around bank risk, borrower risk, property risk, and lender margin. The SBA 504 debenture is priced around government-backed bond risk… a completely different funding source.
That is why the 504 program can deliver long-term, fixed-rate capital that conventional commercial real estate financing often cannot replicate. The 504 advantage is the highest leverage in the market for the owner-user, because it draws from a different capital source entirely.
When the 504 fits your deal, it is almost always the best structure available. The question is whether your deal qualifies. One conversation with me and I will tell you.
Hawaii Commercial Real Estate by the Numbers
I underwrite Hawaii commercial real estate loans against the real economy, not the headlines. These are the public figures that explain why capital keeps flowing into these islands and why Hawaii commercial property loans keep performing despite the highest barriers to entry in the country. Read them as the demand case under every Hawaii commercial real estate loans file I take on.
Annual visitor spending
Visitors spent $20.7 billion across the Hawaiian Islands in 2024, the demand engine under hospitality, retail, and resort-adjacent commercial real estate statewide.
Source: Hawaii DBEDT 2024 Annual Visitor Research ReportAnnual defense spending
Defense activity poured $10.2 billion into Hawaii and supports an estimated 17% of all jobs in the state, a deep, recession-resistant tenant base for industrial and commercial property.
Source: Hawaii MACRO Factbook (2026)Hawaii residents
The state’s resident population was 1,432,820 in the latest Census estimate, a stable base of renters, owners, and consumers anchoring the Hawaii commercial real estate loans I arrange.
Source: Hawaii State Census Office (2025)Live in Honolulu County
About 69.1% of all Hawaii residents live in Honolulu County on Oahu, which concentrates the bulk of the state’s commercial property demand into the Honolulu market.
Source: Hawaii State Census Office (2025)Hawaii GDP
Hawaii’s economy runs at roughly a $125 billion annual rate, with real estate, rental, and leasing standing as the second-largest private industry behind tourism and government.
Source: U.S. BEA via FRED (2025)How Hawaii Investors Use Hawaii Commercial Real Estate Loans
Demand is one thing. Turning it into a closed deal is another. Here is how the Hawaii commercial real estate loans I arrange actually get put to work, lane by lane. Whatever the asset, Hawaii commercial real estate loans win on speed and structure, and that is what I bring to every Hawaii commercial real estate loans file. Below is how Hawaii commercial real estate loans break down by what you are actually trying to fund.
Hawaii Multi-Family Loans
Hawaii multi-family loans are one of the busiest lanes on my desk, and it is no accident. Oahu’s chronic housing shortage keeps rents high and vacancy low, and workforce housing is in constant demand to keep resort and service workers on-island. I place Hawaii multi-family loans on purchase, refinance, and value-add. Hawaii multi-family loans run from a small Honolulu walk-up to a larger garden complex in Kapolei or Ewa Beach. The same playbook behind my $43M and $4.2M apartment closings drives these Hawaii commercial real estate loans for you.
The Hawaii Commercial Mortgage Options I Place
A Hawaii commercial mortgage is not one product, it is a menu. I match each Hawaii commercial mortgage to the asset and the borrower: conventional debt for clean income property, SBA 504 and 7(a) for owner-users, bridge capital for speed, and institutional money for the big resort and mixed-use deals. Where a local bank tries to force your deal into one box, I shop your Hawaii commercial mortgage across a 75+ lender network until I find the structure that fits, the same way I shop every one of my Hawaii commercial real estate loans.
Hawaii Commercial Property Loans Across Every Asset Class
I write Hawaii commercial property loans on retail, office, industrial, flex, self storage, hospitality, and mixed-use, not just the easy categories. Hawaii commercial property loans are not limited to the simple deals, and Hawaii commercial property loans are where my owner-operator background pays off for you, because I have actually held title, run the numbers, and lived through a closing. When your Hawaii commercial property loans depend on a tight timeline or a tricky island asset, that experience is the difference between a funded deal and a dead one.
Honolulu Commercial Real Estate Loans and the Oahu Market
Honolulu commercial real estate loans dominate my Hawaii volume, and Oahu earns it. Roughly 69% of the state lives in Honolulu County, and the harbor, the downtown business district, Waikiki, and the Kapolei growth corridor all pull capital into the market. I treat Honolulu commercial real estate loans as the core of my island book, with the lender relationships and the market read to fund Hawaii commercial real estate loans faster than a cautious local bank ever could on the same deal.
When the Bank Walked, I Closed
One deal is luck. Two deals at wildly different sizes is a system. Here is the proof behind the Hawaii commercial real estate loans I place, at both ends of the size scale.
$43M Multi-Family Apartment Complex
- Bank issued a pre-approval, then walked two weeks before closing.
- The real estate broker called me.
- I structured the financing with an institutional capital partner.
- Term sheet in the buyer’s hands in 48 hours.
- Closed in 19 days.
“When a $43M deal demands institutional speed, this is how I deliver.”
$4.2M Multi-Family Apartment Purchase
- The borrower’s bank walked pre-closing.
- This was a purchase, not a refinance.
- I funded it in 24 days.
- Into a 20-year fixed.
“This is the typical-investor deal I do every month.”
Fresh Closings From My Desk
Loading my latest funded deals…
A Hawaii Bank vs. Me
A bank works for the bank. I work for your closing. Here is what that difference looks like on real Hawaii commercial real estate loans, scenario by scenario. The pattern repeats on most Hawaii commercial real estate loans I rescue, and it is why borrowers bring their Hawaii commercial real estate loans to me after a bank stalls.
| Scenario | Traditional Bank | Kevin |
|---|---|---|
| $5M acquisition with a 60-day closing window | 90+ days to underwriting, often declined | I deliver a term sheet in 3 to 5 days and close in 21 to 30 |
| Bank withdraws 10 days from close | Deal dies | I can place an emergency term sheet in 24 hours and close in under 15 days |
| Out-of-state buyer | Bank wants an in-state relationship | I am a cross-state CRE specialist, all 50 states |
| Loan over $20M | Most banks tap out | I close up to $100M with my institutional partners |
| Owner-occupied CRE | Generic SBA process | I am an SBA 504 specialist, 90-day target close |
| 1031 exchange, tight timeline | Bank cannot match the deadline | I close in 21 to 30 days, with your replacement property identified |
| DSCR property with no W-2 income | Declined for “lack of personal income” | I have DSCR programs that qualify the property, not your W-2 |
Why Work With Me Instead of a Hawaii Bank
20+ Years in the Commercial Real Estate Arena.
I have spent 20+ years in the commercial real estate arena, not behind a teller window. I have been a broker, an owner, and an operator. I have sat on the borrower’s side of the table, signed the personal guarantee, and sweated a closing date, so when I tell you I understand your Hawaii commercial mortgage, I mean it from experience and not from a training manual. That experience is behind every one of the $500M+ I have funded, and behind every Hawaii commercial real estate loans file I take on.
I bring a 75+ lender network and a $100M institutional capital partner to the table, and I execute across all 50 states. That national reach matters more in Hawaii than almost anywhere, because so many island deals come from mainland buyers and need a lender who is not waiting on a local in-state relationship. Most loan brokers have never owned commercial property or run a deal from the borrower’s side. That is the difference you feel when an island deal gets complicated. Don’t Beg the Bank! Put a borrower-side operator on your side instead.
I call you. I never text. I review every Hawaii commercial real estate loans file personally, 7 days a week, on Arizona Time. For a multi-million-dollar decision you deserve a real person who picks up the phone, not a portal and a ticket number. That is the trust a CRE deal of this size requires, and it is the standard I hold myself to on every file.
So here is the bottom line on Hawaii commercial real estate loans. Don’t Beg the Bank! Tell me what you are trying to do and I will tell you the fastest way to fund it. More about how I work → or scroll down and send me the deal.
What Drives the Hawaii Deals on My Desk
Three engines fill my Hawaii pipeline. Tourism and hospitality is the heartbeat of the islands, with roughly $20 billion in annual visitor spending pulling hotel, resort-retail, and resort-workforce-housing deals along with it. The military and federal sector is the second engine… defense activity drives about 17% of all Hawaii jobs and a deep base of industrial, flex, and support-services demand on Oahu, even though it does not have its own financing pillar on my site. And construction stays constrained but constant, because a state this land-locked and supply-short never stops needing to build… often with healthcare facilities leading the way. When those tenants need space, the property behind them needs Hawaii commercial real estate loans, and that is where I come in.
Hawaii Commercial Real Estate Across the Map
My desk covers all the islands, and I place Hawaii commercial real estate loans on every one of them. Honolulu commercial real estate loans are the core of what I do, anchored by the harbor, the downtown business district, and Waikiki’s tourism retail. Kapolei is Oahu’s fast-growing “second city” and the center of new development, while Pearl City and Ewa Beach carry the workforce-housing story. Off Oahu, Kahului and Kihei drive the Maui resort economy, Kailua-Kona and Hilo anchor the Big Island, and Lihue serves Kauai. Wherever the deal sits, I can fund it with the right Hawaii commercial real estate loans for that market, because I place Hawaii commercial real estate loans island by island, not just on Oahu.
Authority on Hawaii Commercial Real Estate Lending
I would rather you trust the institutions than take my word for it. These are the sources I rely on when I structure Hawaii commercial real estate loans, and you should too.
Federal Loan Programs
The SBA’s own breakdown of 7(a), 504, and other programs I use to structure owner-occupied CRE deals.
SBA Loan Programs →Commercial Real Estate Industry
NAIOP, the commercial real estate development association, on market trends and development standards.
NAIOP →Real Estate Research and Trends
The Urban Land Institute’s research on capital flows and emerging trends in real estate.
ULI →Hawaii Regulator
The Hawaii DCCA Real Estate Branch, the state body that licenses and regulates real estate activity across the islands.
Hawaii DCCA Real Estate Branch →Send Me Your Hawaii Deal
Tell me what you are working on. I review every one of my Hawaii commercial real estate loans files personally and I will call you back, 7 days a week, on Arizona Time.
No upfront fees.* I am paid by the lender at closing. Your information goes to me directly… I call leads, I never text, and I never sell your data.
Hawaii Commercial Real Estate Loans: FAQ
How fast can you close a Hawaii commercial real estate deal?
On a standard acquisition I deliver a term sheet in 3 to 5 days and close in 21 to 30. A bridge deal moves faster… a term sheet in 24 to 72 hours and a close in 15 to 30 days. If a bank just walked on you days before closing, I can place an emergency term sheet in 24 hours and close in under 15 days. The clock starts the moment your application reaches me, so the sooner I see the deal, the sooner the money moves. Speed is the entire point of my Hawaii commercial real estate loans. Arizona Time, 7 days a week.
How much can I borrow with Hawaii commercial real estate loans?
I arrange Hawaii commercial real estate loans from $150K to $100M. Smaller owner-user deals run through SBA 504 and 7(a), conventional acquisitions sit in the middle, and large resort, mixed-use, and institutional deals up to $100M go through my capital partners. On qualified $5M to $100M CRE, development, and construction deals I can reach up to 90% leverage.* Tell me the deal size and I will tell you the structure that fits.
What property types do you finance in Hawaii?
All of them. Multi-family apartments, warehouse and industrial, office buildings, office condos, retail and strip malls, flex buildings, construction and development, and self storage. Hawaii multi-family loans are a big part of my volume given how tight the Oahu housing market runs, but I place Hawaii commercial property loans across every major asset class in the state, including hospitality and resort deals. If you are not sure where your deal fits, send it to me and I will point you to the right program. Hawaii commercial real estate loans, every asset class, one source.
Do you offer SBA 504 for owner-occupied CRE in Hawaii?
Yes, and it is one of my specialties. The SBA 504 is structured differently from a conventional bank loan: a bank first lien at about 50 percent, an SBA/CDC debenture portion at about 40 percent priced off the bond market, and your equity. That structure delivers the highest leverage and best long-term fixed rates available to an owner-user, which matters enormously in a high-cost market like Hawaii. If you occupy 51 percent or more of the building, your island deal likely qualifies. It is one of the strongest Hawaii commercial real estate loans for an owner-user. One call and I will tell you for sure.
Do you finance 1031 exchanges in Hawaii?
Yes. The hard part of a 1031 is the calendar… 45 days to identify and 180 days to close. A bank usually cannot move at that speed, and out-of-state exchangers buying into Hawaii feel that even more. I can. Once you have identified your replacement property, I close in 21 to 30 days, which keeps your exchange inside the deadline and your gains deferred. Bring me the timeline early and I will build the Hawaii commercial real estate loans financing around it.
Do you fund ground-up construction in Hawaii?
Yes. Land is limited and entitlements are slow, so ground-up in Hawaii rewards the sponsor who lines up capital early. I structure construction and development capital from $500K to $100M, with an LTV/LTC blend up to 90% on qualified large deals.* Term sheets run 5 to 10 days and closings 30 to 45 days. Bring me the pro forma, the budget, and the sponsor’s track record and I will tell you what I can do.
What loan-to-value ratios do you offer?
It depends on the asset and the deal. Stabilized commercial real estate typically runs 60 to 75% LTV. Owner-occupied bridge runs 60 to 75% LTV, interest-only, with an SBA or permanent takeout. On qualified $5M to $100M CRE, development, and construction deals I can reach up to 90% leverage*, measured as LTV on stabilized value or an LTV/LTC blend on ground-up. Send me the numbers and I will give you a straight answer on leverage. Leverage is deal-specific on Hawaii commercial real estate loans.
What documents do you need to issue a term sheet?
To move fast I need the basics up front: the purchase contract or current debt, a rent roll and trailing-12 operating statements for income property, your personal financial statement, and a quick note on the sponsor’s experience. For construction I add the budget, plans, and pro forma. You do not need a perfect package to start… send me what you have and I will tell you what is missing. The faster I see it, the faster the term sheet comes back. That is how I run every one of my Hawaii commercial real estate loans.
What does it cost to work with you?
I charge no fees to you, the borrower. I am compensated by the lender at closing. Some partner lenders may require a commitment fee or deposit when you accept a term sheet… that charge belongs to the lender, not to me, and it is always disclosed before you commit to anything. There are no upfront fees to me to get started. You send me the deal, I go to work, and the lender pays me when it closes.
Can I get a Hawaii commercial mortgage with less-than-perfect credit?
Often, yes. A bank leads with your credit score. I lead with the deal. For a Hawaii commercial mortgage on income property, DSCR programs qualify the property’s cash flow, not your W-2 or your FICO. For owner-occupied deals there is more flexibility than most banks admit. Bad credit does not automatically kill a strong deal in my world… it just changes which lender in my network I take it to. Send it over and let me look.
Which Hawaii markets do you serve, and do you do Honolulu commercial real estate loans?
All of Hawaii, and yes, Honolulu commercial real estate loans are the core of my island business. I fund deals in Honolulu, Pearl City, Kapolei, Ewa Beach, Waipahu, Kaneohe, and Kailua on Oahu, plus Kahului, Kihei, and Wailuku on Maui, Kailua-Kona and Hilo on the Big Island, and Lihue on Kauai. I am a cross-state CRE specialist, so a mainland buyer chasing a Hawaii property is exactly the kind of deal I close all the time. Wherever the property sits across the islands, I can fund it.
Commercial Real Estate Loans by State
Find your program. Don’t Beg the Bank!
I arrange Hawaii commercial real estate loans from $150K to $100M, with a same-day callback from someone who has owned the businesses himself. Tell me what you are trying to do and I will tell you the fastest way to fund it. Don’t beg a bank that will keep you waiting… call me.
*I charge no fees to the borrower. I am compensated by the lender at closing. Some partner lenders may require a commitment fee or deposit when you accept a term sheet; that charge belongs to the lender, not to me, and is disclosed before you commit. Leverage up to 90% applies only to qualified $5M to $100M CRE, development, and construction deals, measured as LTV on stabilized value or an LTV/LTC blend on ground-up; terms run 12 to 60 months on large deals with closings in 15 to 30 days, and stabilized permanent financing runs 5 to 30 years. All figures are illustrative and subject to lender approval, underwriting, and property qualification. Hawaii commercial real estate loans are arranged by Kevin Kermeen, a nationwide commercial loan advisor.