The Hawaii Green Infrastructure Authority serves as Hawaiʻi’s Green Bank. Green banks are entities that address market gaps to speed up the transition to clean energy and combat climate change. As of January 2023, there are 22 green banks across the U.S., with more in the pipeline. These banks exist worldwide and can be government, quasi-government, or nonprofit organizations. The HGIA operates as part of the state government.

Condo Associations may be interested in HGIA favorable capital improvement loans, solar programs and more.

Established in November 2014 under the provisions of Act 211, which was passed during the 2013 State Legislative Session, the HGIA gained wide community support. This included backing from legislators, state agencies, clean energy financing advocates, environmental groups at both local and national levels, community organizations, energy companies, labor unions, and business groups. The act aimed to establish a state-run clean energy financing authority that could offer affordable capital to individuals who previously lacked access to financing for solar energy projects.

HGIA Benefits to Hawaii Condominium Projects

Act 40, SLH 2024, creates a Solar Hui Program in the Hawai’i Green Infrastructure Authority. This program allows multi-family residential property owners to invest into a solar fund to receive installation tax credits and income derived from the sale of energy.

Act 41, SLH 2024, enacts a commercial property assessed clean energy and resiliency (C-PACER) program to allow certain condominium projects to access alternative funding for qualified association capital improvements. Under C-PACER, loan terms are typically much longer than conventional loans, making annual loan payments more affordable. Subject to any approval requirements in a condominium’s governing documents, C-PACER loans require a minimum approval of unit owners representing 50% of the common interest vote. This program will also

be administered by the Hawai’i Green Infrastructure Authority.

For More Information

HGIA is administratively connected to the Department of Business, Economic Development, and Tourism. Learn more on https://gems.hawaii.gov/