Hawaii rentals are expensive, rules on short stays are strict, and many properties carry high association dues. A refinance here has to be sized carefully, and it has to work on long-term rent.
In short: LendingStreet is our top pick for a DSCR rate-and-term refinance in Hawaii. We qualify on the property's rent with no W-2s or tax returns, lend to LLCs, offer 30-year terms and have no stated maximum loan size, which matters at island prices. Rate-and-term goes up to 80% LTV on some programs, with leverage often lower on large balances. That fits investors on Oahu, Maui, the Big Island and Kauai who want to replace bridge or bank debt with a long-term loan.
LendingStreet is built for investors who want to move a rental out of short-term or awkward debt and into a long-term loan that the property itself supports. A DSCR rate-and-term refinance pays off the existing loan, can roll in closing costs, and replaces it with a loan of up to 80% LTV on some programs, with 30-year terms available.
In Hawaii, common files include a single-family home with an ohana unit in central Oahu, a condo in Kakaako or Kailua-Kona, or a small multi-unit building in Hilo.
LendingStreet fits Hawaii investors with long-term leases in place who want to lock in a permanent payment on a high-value rental. To see your numbers, get a quote with the form below or call (877) 298-1001.
Investors searching for DSCR refinance lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Hawaii. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Because island prices are high, many Hawaii rental loans fall in jumbo territory. Larger balances get more review, reserves can be higher and max LTV can be lower, so the lender's appetite for size matters as much as its rate-and-term limit.
Many investors bought with bridge financing to move quickly, or hold rentals on bank loans that reset. Others are adjusting after county rule changes pushed former vacation rentals toward long-term leases, which changes the rent the refinance is sized on.
In Hawaii, investors usually compare a local bank or credit union, a private individual lender and a long-term DSCR lender. Here is how they compare on a refinance.
Banks and credit unions can be a fine fit for borrowers with simple tax returns and a single property. Hard money lenders do a good job on speed. For a long-term refinance of a rental, though, the DSCR structure is what lines up with how investors actually earn.
| What investors need | LendingStreet | Typical local bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent, not tax returns | Yes, on the property's rent | Often requires tax returns and personal income | Asset-based, but not built for long-term holds |
| Long-term payment | 30-year terms available | Often shorter terms or balloons; varies | Usually short-term only |
| Max LTV on rate-and-term | Up to 80% on some programs | Varies by bank | Not designed for permanent refinances |
| LLC borrowers | Standard | Varies; some lend to individuals only | Usually allowed |
| Loan size | From $150,000, no stated maximum | Often limited by local lending caps | Varies |
| Where they lend | All 50 states and DC | Usually a local footprint | Often one region |
On Oahu, investors hold single-family homes in Ewa Beach, Kapolei, Mililani, Waipahu and Kaneohe, often with an ohana or accessory unit that adds a second rent. Condo rentals are common in Kakaako, Waikiki and Downtown Honolulu, where association dues and the building's insurance shape the ratio.
On the neighbor islands, Hilo and Kona on the Big Island offer lower prices than Oahu, while Maui and Kauai rentals are often high-priced and tied to local rules on vacation stays. Some properties sit on leasehold land rather than fee simple, which usually needs more review, so raise it early.
Hawaii's property tax rates are low by national standards, but each county sets its own classes. Honolulu, for example, taxes some higher-value non-owner-occupied homes in a separate residential class at a higher rate. Check your county's classification and use the current bill.
Insurance costs depend on the island, the building and hurricane exposure, and condo master policies have become a bigger factor in association dues. Flood insurance is generally required in mapped flood zones along the coast.
Honolulu restricts short-term rentals outside designated resort areas and has set long minimum rental periods elsewhere, and Maui has moved to phase out many apartment-district vacation rentals. Rules change, so check with the county. For most Hawaii refinances, the loan is sized on a long-term lease.
This example is illustrative and not a quote. An investor bought a Mililani home with a permitted ohana unit using bridge financing and leased both units for a combined $6,900 a month. The appraisal is $1,150,000, the bridge payoff is $830,000, and the interest-only bridge payment is about $7,608 a month.
The refinance pays off the bridge loan and rolls in $20,000 of closing costs, for a loan of $850,000 at 73.9% LTV. Estimated principal and interest on a 30-year term is about $5,655. With taxes of $520 and insurance of $210, the total is about $6,385, for a DSCR of about 1.08x. Without the ohana rent, the ratio would fall well short, which is why permits for the second unit matter.
| Item | Amount |
|---|---|
| Appraised value | $1,150,000 |
| Payoff of existing loan | $830,000 |
| Estimated closing costs rolled in | $20,000 |
| New DSCR loan amount | $850,000 |
| Loan-to-value | 73.9% |
| Monthly rent | $6,900 |
| Estimated principal and interest (30-year) | $5,655 |
| Property taxes (monthly) | $520 |
| Insurance (monthly) | $210 |
| Total monthly payment | $6,385 |
| DSCR | 1.08x |
Before you lock in any refinance, ask every lender the same questions so you are comparing like with like.
Here is how LendingStreet answers those questions:
| Question | LendingStreet |
|---|---|
| Max LTV | Up to 80% on rate-and-term on some programs; varies by program |
| DSCR minimum | 1.0x standard; sub-1.0 programs available |
| Seasoning | Varies by program; we will tell you up front |
| LLC borrowing | Standard |
| Closing timeline | Depends mostly on appraisal and title; a complete file moves fastest |
| Large balances | From $150,000 with no stated maximum; larger loans get more review |
Seasoning is how long you must own the property, or how long since a renovation was finished, before a lender will refinance on the new appraised value. It varies by program, so ask early. Start the refinance well before your current loan matures, because extensions on short-term debt can be costly.
In Hawaii, appraisals with few direct comparables can take longer. Start the refinance early and bring signed leases on both units if the property has an ohana.
A complete file gets a faster, clearer answer. Gather these items, then get a quote with the form below or call (877) 298-1001.
We will run the ratio for your Hawaii rental at a few loan amounts and show you where it lands.
Our top pick is LendingStreet. We qualify on rent with no tax returns, lend to LLCs, offer 30-year terms and have no stated maximum loan size. Call (877) 298-1001 or use the form on this page.
Yes. We lend in all 50 states and DC, including Oahu, Maui, the Big Island and Kauai, on non-owner-occupied investment property.
Usually yes, if the unit is permitted and leased. Unpermitted units can create appraisal and insurance problems.
Leasehold usually needs more review, including the remaining lease term and ground rent. Tell us up front so we can check whether it fits a program.
Yes, on long-term rent. If county rules still allow nightly stays in your zone, our STR program may qualify on projected revenue on some programs, but check county rules first.
There is no stated maximum. Larger balances get more review, and max LTV can be lower. See our jumbo DSCR programs for high-value rentals.
Sub-1.0 DSCR programs exist, or a smaller loan amount can bring the ratio up. We can compare both.
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