Hawaii’s Commercial Property Assessed Clean Energy and Resiliency (“HI C-PACER”) financing program is a state-sponsored program that provides a new form of financing that helps building owners, condominium associations and property developers access private-sector financing for the installation of energy efficiency, water conservation, renewable energy, resilience and other qualifying improvements.  HI C-PACER projects typically lower energy, water or insurance costs, increase renewable energy deployment, reduce greenhouse gas emissions, and create local jobs.
The following provides HI C-PACER program highlights, however, additional details can be found in the HI C-PACER Program Guide.

What types of properties are eligible for financing?
Any existing or new fee simple or leasehold non-residential real property, including;

  • Any multi-family dwelling or townhouse consisting of five or more units;
  • Any condominium association organized under chapter 514B, Hawaii Revised Statutes, consisting of six or more units; and
  • Agricultural property.

What Qualifying Improvements are eligible for financing?
HI C-PACER provides both retrofit financing and new construction financing of Qualifying Improvements (QI).  QIs must be permanently affixed to the building or property, including but not limited to:

Wastewater / Drinking Water

  • Septic Systems
  • Aerobic treatment unit systems
  • Connection to sewer systems
  • Drinking water projects
  • Water conservation measures

Clean Energy (consistent with the State’s Clean Energy Goals)

  • Solar PV Systems
  • EV Charging Stations
  • Wind
  • Fuel Cells
  • Geothermal

Energy Efficiency

  • Insulation
  • Building Envelope
  • HVAC
  • Lighting
  • Solar Thermal
  • Heat Pumps
  • Other measures approved by HGIA (in concert with Hawaii Energy)

Resiliency (improve the durability of infrastructure)

  • Flood mitigation
  • Hurricane mitigation
  • Storm / Sea level rise
  • Energy Storage Systems
  • EV charging systems
  • Indoor air quality
  • Seismic measures
  • Fire suppression systems
  • Re-roofing

Expenses eligible for Financing

  • Energy / water audits, feasibility studies, etc.
  • Soft costs (e.g., engineering and design; legal; permit fees, etc.)
  • Hard costs (e.g., new ducting, wiring, roof upgrades, etc. if part of a system, i.e., cooling, heating, water, solar)
  • Commissioning costs
  • Beneficial electrification projects
  • Prepaid operations and maintenance (O&M) costs for up to 5 years (including measurement and verification costs)
  • Cost of extended warranties
  • Financing costs (e.g., QCP or project developer fees, interest reserves, Program fees, title fees, recording fees, etc.)
  • Ancillary costs that do not exceed 40% of the total project costs

Additional Qualifying Improvements may be approved by HGIA from time to time.

Next Steps

  1. Interested eligible Property Owners to discuss project scope with your selected Contractor(s).
  2. Property Owner to select a C-PACER lender (Qualified Capital Provider or QCP); OR at the request of the Property Owner, HGIA can solicit financing term sheets from participating QCPs.
  3. Work with your Contractor(s) and QCP to finalize financing.
  4. Obtain Lender Consent if a mortgage currently exists on your property.  For Condominium Associations, this applies for existing mortgages or loans secured by UCC-1 financing statements recorded in the Bureau of Conveyances.
  5. QCP to submit financing package to HGIA for preliminary approval, subject to Lender Consent (if applicable).
  6. Execute and record required documents and start upgrading your building.

How it Works:

  • Qualifying Improvements are financed through a voluntary assessment, senior to mortgages, but junior to real property taxes.
  • Mitigating QCP risk opens new markets for long-term, fixed rate financing over the blended useful life of the retrofit(s) financed.


HI C-PACER Qualified Capital Provider List.

Lenders interested in participating in the HI C-PACER program, please complete and submit this Capital Provider Registration form to [email protected]

Soliciting Proposals:

For property owners interested in having HGIA solicit Financing Term Sheets from QCPs on your behalf, please complete this Project Solicitation Form and submit to [email protected]

For more information, email [email protected] or call 808-587-3868.