— MORTGAGE CREDIT CERTIFICATE
Mortgage Credit Certificate
for First-Time Buyers
A Hawaii first-time homebuyer tax credit designed to improve long-term affordability, with solutions available in other markets where Pacific Home Loans is licensed.
— ABOUT MORTGAGE CREDIT CERTIFICATE
Hawaii Mortgage Credit Certificate (MCC)
for First-Time Buyers
The Hawaii Housing Finance and Development Corporation (HHFDC) Mortgage Credit Certificate (MCC) program is a Hawaii-specific first-time homebuyer benefit designed to increase affordability through a federal income tax credit.
Unlike a loan or grant that must be repaid, the MCC provides an annual federal tax credit that reduces the amount of income tax you owe — potentially improving qualifying income and overall affordability.
MCC may be layered with several programs available through our First-Time Homebuyer Loans in Hawaii, including FHA, HomeReady®, Home Possible®, and VA loans.
→ First-Time Homebuyer Loan Programs
Multi-State Availability
Pacific Home Loans provides first-time homebuyer financing solutions in multiple states, including Hawaii, California, Nevada, and other markets where we are licensed.
While this page focuses on Hawaii-specific guidance, similar tax-advantaged or affordability programs may be available in other states based on borrower eligibility, property location, and program guidelines.
— MORTGAGE CREDIT CERTIFICATE
What is a Mortgage
Credit Certificate (MCC)?
What Is a Mortgage Credit Certificate (MCC)?
An MCC is a federal tax credit issued by HHFDC that allows eligible first-time buyers to claim a portion of their annual mortgage interest as a dollar-for-dollar federal tax credit.
Up to 20% of your annual mortgage interest may be claimed as a federal tax credit. The remaining mortgage interest may still qualify as an itemized deduction. Borrowers should consult a qualified tax professional for individualized advice.
Who Qualifies as a First-Time Homebuyer?
To qualify under MCC guidelines, you cannot have owned a principal residence within the last three years. Certain targeted area exceptions may apply. Eligibility is subject to HHFDC and IRS requirements.
— MCC INCOME LIMITS
Hawaii MCC Income
Limits (Non-Targeted Areas)
2026 Hawaii MCC Purchase Price Limits
- Honolulu County: $785,429
- Maui County: $996,440
- Kauai County: $996,440
- Hawaii County (Big Island): $527,526
Purchase limits apply to fee simple, fully completed units. Leasehold properties and uncompleted units may require acquisition cost adjustments under IRS guidelines.
Honolulu County
- Family Size 2 or Less: $142,419
- Family Size 3 or More: $163,782
Maui County
- Family Size 2 or Less: $136,920
- Family Size 3 or More: $159,740
Kauai County
- Family Size 2 or Less: $136,800
- Family Size 3 or More: $159,600
Hawaii County (Big Island)
- Family Size 2 or Less: $107,200
- Family Size 3 or More: $123,280
Income limits are subject to change by HHFDC pursuant to IRS guidelines.
Important Refinance Note
If you refinance an existing MCC-assisted mortgage, your original MCC becomes void unless you apply for and receive a reissuance certificate. Failure to reissue may result in loss of the tax credit benefit.
