Home Equity Line of Credit

Q: What is a Home Equity Line of Credit?

A line of credit secured by your home or other improved property you own. Depending on your equity in the property, your credit line can range from $20,000 to $1,500,000.

Since it is a line of credit, you can draw on it by simply writing a check. You have instant access when you need it and there are no monthly payments until you use it. When you do, you can restore your line to its original amount by simply paying off your balance.

Q: What can I use my Home Equity Line of Credit for?

Use it for home improvements, tuition payments, bill consolidation, buy a new car, or go on vacation. It's easy and convenient to pay for almost anything.

Q: How can I access my Home Equity Line of Credit?

Once you’ve opened your Home Equity Line of Credit, you’ll receive checks that look and work much like any regular personal checks. To make yourself a loan, just write a check for the amount you need. Nothing could be faster and more convenient. And even if you don’t need a loan now, it’s nice to know your Home Equity Line of Credit will be there when you need it.

Q: How are Home Equity Line of Credit rates compared to credit cards and other consumer loans?

It generally offers a much lower interest rate* compared to credit cards or other personal loans since it is secured by real property. Consult a tax advisor regarding the deductibility of interest.

* For current rates, call our 24-hour customer service line, 844-4444. From the Neighbor Islands call 1-888-844-4444. In Guam, call your branch of account.

Q: How much can I borrow on a Home Equity Line of Credit?

The amount you can borrow is determined by the equity you have in your home. The example below shows how equity is determined for a house or condominium appraised at $400,000.

Appraised property value     $400,000

80% of appraised value       $320,000

Less amount owed on property       $150,000

Home Equity Line of Credit limit   $170,000

Q: Will interest on my Home Equity Line of Credit be tax deductible?

The interest you pay may be 100% tax deductible. (Consult your tax advisor regarding the deductibility of interest.)

Q: Can I get a Home Equity Line of Credit on any type of property?

First Hawaiian Bank offers a home equity line of credit on many types of property, including:

  • Fee Simple or leasehold properties
  • Owner-occupied homes (primary residence)
  • Nonowner-occupied (rental or investment) homes
  • Second/vacation homes
  • Single family residences
  • Leaseholds (not eligible if non-owner occupied)
  • Duplex, triplex, fourplex
You must have property insurance on the property you use for collateral.  Only available for properties located in Hawaii and Guam.


Call Us

24 - Hour Customer Service
Oahu: (808) 844-4444
Toll Free: (888) 844-4444

FHB Online/Bill Pay/Mobile Banking
Oahu: 643-4343
Toll Free: (888) 643-4343
Mon-Fri 8:00 A.M. to 9:00 P.M.

For Hearing Impaired Callers
Oahu: 848-5491
Toll Free: (800) 228-6181

Write Us

First Hawaiian Bank
PO Box 3200
Honolulu, HI 96847