C-PACE Financing in Hawaii

PACE Equity Finance funds C-PACE loans in Hawaii

Commercial Property Assessed Clean Energy (C-PACE) funds improvements in commercial real estate developments that reduce energy and water usage. Its non-recourse, long-term structure helps property owners and developers close capital gaps and improve long-term asset performance.

C-PACE Status: Active Program
Max Term: 30 years
Max LTV: 35%
Refinance Availability: 3-year lookback
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Explore PACE Equity Finance’s tailored C-PACE capital solutions across hundreds of projects.

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HI C-PACER

Hawaii’s C-PACER program (HI C-PACER) is administered by the Hawai’i Green Infrastructure Authority. Projects eligible for HI C-PACER financing must include Qualifying Improvements (QIs), including those that improve wastewater / drinking water management, clean energy production, energy efficiency, or resiliency. As of 2024, condominiums are eligible for financing.

Hawaii C-PACE Financing Parameters

Property Types

Multifamily, Senior Housing, Industrial, Hospitality, Retail, Office, Storage

Eligible Projects

Renovation, Redevelopment, Refinance, New Construction, Renewable Energy

Term

Up to 30 years.

Amortization

Fully amortized over the term.

Interest Rate

Fixed rate over the term; spread over a 10-year UST.

Capitalized Interest

No payments during the construction period.

Recourse

Non-recourse, completion guarantee (on New Construction and major redevelopment).

Repayment

Paid through an annual or semi-annual tax assessment on the property.

Prepayment

Prepayable at any time, subject to step-down prepayment premium. No lockout.

LTV

Up to 35% property value.

DSCR

1.10 – 1.30 at stabilization.

Funding Time

Construction, Mid-Construction, Refinance — up to 3 years after completion.
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C-PACE Financing Case Studies

SkyRidge Resort

SkyRidge Resort

$63.3 Million
Deer Valley, UT
  • Hospitality
  • New Construction
  • •Refinance / Recapitalization
SIXTY DC Hotel

SIXTY DC Hotel

$22.5 Million
Washington, D.C.
  • Hospitality
  • Redevelopment
  • •Refinance / Recapitalization
Meadow Valley

Meadow Valley

$25 Million
Traverse City, MI
  • Senior Housing
  • New Construction