Special Offers to Help You Reach Your Dream of Homeownership

Buying a home is a huge milestone - we're here to help! We are currently offering the following promotions that can help you save money on closing cost and mortgage insurance.  

couple sitting outside
ASB Number One Lender

American Savings Bank is Hawaii's #1 Local Mortgage Lender*

*State of Hawaii Bureau of Conveyances Jan-Oct 2024, recorded total value of residential, non-wholesale, purchase mortgages. 

 

family moving into home

This is HOMESM: An affordable financing solution for Hawaii's Kamaaina

A home loan for first time home buyers that includes a wider Area Median Income (AMI) range for buyers who earn between 80% - 140%, a down payment as low as 3%, lower mortgage insurance requirement, reduced closing costs and more!1 

LEARN MORE


Explore More

 

Hometown Heroes Promotion Firefighter

Hometown Heroes Promotion

Are you or someone you know a hometown hero? Take advantage of this promotional offer of one-half (0.5) point off your loan origination points for Hawaii's first responders, teachers, military personnel and more.2 

LEARN MORE


Explore More

 

couple house

First Time Home Buyer Promotion

Looking to purchase a property as an owner-occupant and haven't owned a home in the last 3 years? Take advantage of this promotion and receive one-half (0.50) point off your loan origination points.3 

LEARN MORE


Explore More

 

home

Purchase Promotion

Looking to purchase a property as an owner-occupant? Take advantage of this promotion and receive one-quarter point (0.25) off your loan origination points.4 

LEARN MORE


Explore More

 

Home in Hawaii

10% Jumbo Loan Down Payment "Piggyback" Promotion

Avoid costly mortgage insurance with 90% financing (10% down payment) with simultaneous first mortgage and home equity line of credit (HELOC).5 

LEARN MORE


Explore More

 

Couple looking at construction plan

Vacant Land & Construction Promotion

In this competitive market, inventory is limited and building a home from the ground up could be your best option. For a limited-time, get one-half (0.50) point off your loan origination points.6 

LEARN MORE


Explore More
  1. This is HOMESM First Time Home Buying Program: The “This is Home” program is applicable for home purchase transactions financed through American Savings Bank (ASB) residential mortgage programs. Program is not applicable for brokered out or Veterans Affairs loans. Offer good only with a completed loan application submitted to ASB and for a loan closed and funded by ASB by 12/31/2025. Offer is subject to automatic monthly mortgage payments from a new or existing ASB personal checking account. The ASB checking account number with the intent to establish automatic monthly mortgage payments must be provided prior to final approval of the loan by ASB. The establishment of automatic payments must be signed at mortgage closing. If the borrower opts out of automatic payments or the ASB checking account is not established at loan closing, this program will not apply. See the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. This program cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified. This offer is subject to change or discontinue without notice. Offer good for one unit or one unit and Additional Dwelling Unit single-family dwellings and condominiums. The financed residential property must be owner-occupied. For the purpose of this promotion, an individual is a first time home buyer if he or she (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-years preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent also will be a first time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-years (source: Fannie Mae).
  2. Hometown Heroes Promotion: The mortgage discount offer (offer) is applicable for home purchase transactions financed through American Savings Bank (ASB) residential mortgage programs. Promotion is not applicable for brokered out loans or Veterans Affairs Loans. Offer good only with a completed loan application submitted to ASB and for a loan locked through 3/31/2025 and closed/funded by ASB by 6/30/2025. Offer is subject to automatic monthly mortgage payments from a new or existing ASB personal checking account for this offer of one half (0.5) point off loan origination points. The ASB checking account number with the intent to establish automatic monthly mortgage payments must be provided prior to final approval of the loan by ASB. The establishment of automatic payments must be signed at mortgage closing. If the borrower opts out of automatic payments or the ASB checking account is not established at loan closing, this promotion will not apply and ASB will be required to re-disclose the non-promotional rate and charges which may result in delayed closing. See the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. This offer cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified, and is limited to one promotion per loan. This offer is subject to change or discontinue without notice. Offer good for 1-4 unit single family dwellings, condotels, and condos. The financed residential property must be owner-occupied. Applicant(s) is/are subject to loan qualification, underwriting guidelines, and credit policy of ASB. Offer valid for Hawaii properties only. Certain terms and restrictions apply. For more information, please contact an ASB Residential Loan Officer.   

    Program is for eligible borrowers currently employed either full-time or part-time in one of the following eligible professions: teacher or professor (public, private, or non-profit); fire department; federal, state, or local government law enforcement agency; medical care provider (public, private, or non-profit); nurses, emergency medical technicians (EMTs) and paramedics; and active or former military personnel (dishonorable discharge is ineligible). At least one borrower must be in an eligible profession to qualify. ASB requires documentation to support current employment in an eligible profession and/or a W-2.
  3. First Time Home Buyer Promotion: The mortgage discount offer (offer) is applicable for home purchase transactions financed through American Savings Bank (ASB) residential mortgage programs. Promotion is not applicable for brokered out loans or Veterans Affairs Loans. Offer good only with a completed loan application submitted to ASB and for a loan locked through 3/31/2025 and closed/funded by ASB by 6/30/2025. Offer is subject to automatic monthly mortgage payments from a new or existing ASB personal checking account for this offer of one-half (0.50) point off loan origination points. The ASB checking account number with the intent to establish automatic monthly mortgage payments must be provided prior to final approval of the loan by ASB. The establishment of automatic payments must be signed at mortgage closing. If the borrower opts out of automatic payments or the ASB checking account is not established at loan closing, this promotion will not apply and ASB will be required to re-disclose the non-promotional rate and charges which may result in delayed closing. See the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. This offer cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified, and is limited to one promotion per loan. This offer is subject to change or discontinue without notice. Offer good for 1-4 unit single-family dwellings, condotels, and condos. The financed residential property must be owner-occupied. For the purpose of this promotion, an individual is to be considered a first time home buyer if he or she (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent also will be considered a first time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three year time period. (Source: Fannie Mae). Applicant(s) is/are subject to loan qualification, underwriting guidelines, and credit policy of ASB. Offer valid for Hawaii properties only. Certain terms and restrictions apply. For more information, please contact an ASB Residential Loan Officer.
  4. Purchase Promotion: The mortgage discount offer (offer) is applicable for home purchase transactions financed through American Savings Bank (ASB) residential mortgage programs. Promotion is not applicable for brokered out loans or Veterans Affairs Loans. Offer good only with a completed loan application submitted to ASB and for a loan locked through 3/31/2025 and closed/funded by ASB by 6/30/2025. Offer is subject to automatic monthly mortgage payments from a new or existing ASB personal checking account for this offer of one-quarter (0.25) point off loan origination points. The ASB checking account number with the intent to establish automatic monthly mortgage payments must be provided prior to final approval of the loan by ASB. The establishment of automatic payments must be signed at mortgage closing. If the borrower opts out of automatic payments or the ASB checking account is not established at loan closing, this promotion will not apply and ASB will be required to re-disclose the non-promotional rate and charges which may result in delayed closing. See the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. This offer cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified, and is limited to one promotion per loan. This offer is subject to change or discontinue without notice. Offer good for 1-4 unit single-family dwellings, condotels, and condos. Applicant(s) is/are subject to loan qualification, underwriting guidelines, and credit policy of ASB. Offer valid for Hawaii properties only. Certain terms and restrictions apply. For more information, please contact an ASB Residential Loan Officer.
  5. The Combined First Mortgage and Piggyback HELOC Program is a residential loan program through American Savings Bank (ASB) with a maximum combined loan amount of $2,000,000 and a maximum combined loan-to-value (CLTV) of 90%. The residential first mortgage maximum loan amount is $1,750,000 (the maximum loan-to-value (LTV) is 80% for loan amounts up to $1,250,000 and 75% above $1,250,000 and up to $1,750,000). The ASB Home Equity Line of Credit (HELOC) 2nd mortgage maximum loan amount is $500,000.       

    There are two monthly payments for this financing program. For example, based on a purchase price of $2,200,000, the first mortgage amount would be $1,650,000 (75% LTV) and the HELOC is $330,000 (CLTV 90%); down payment is $220,000. The monthly principal and interest payment for the first mortgage is $10,839.33 as of 3/18/2024, the interest rate is 6.875% and 1.125 points/7.030% Annual Percentage Rate (APR). The actual monthly mortgage payment is higher when you factor in the monthly impound amount for property tax, hazard insurance and other applicable impounds. Assuming the HELOC is fixed with a 20-year FRELO, the APR as of 3/18/2024 is 9.00 % and the monthly payment is $2,969.10 for an owner-occupant. Other FRELO terms and rates are available. FRELO may be added upon your request. See the FRELO Conversion Addendum for minimum and maximum amounts for conversion to a FRELO.    

    If the borrower does not choose the FRELO option, the HELOC is interest-only based on the monthly variable rate and the outstanding principal (no principal amount is reduced unless there are additional payments made by the borrower each month; no prepayment penalty during the draw period for 120 months). After 120 months, the line of credit draw period ends (i.e., no further draw is allowed on the line), and the repayment period begins for 240 months. The monthly payment in the repayment period is principal plus interest based on 1/240th of the outstanding principal on the first day of the repayment period plus accrued interest. If your line amount is more than $25,000, a fee of $500 will be assessed if you request we close it within three years from the agreement date. This fee will not be assessed if: (i) your line is $25,000 or less, (ii) you sell the collateral to an unrelated/unaffiliated third-party, or (iii) you pay off your loan with proceeds from a real estate secured loan from us. HELOC must be secured by fee simple property located in Hawaii. Fire, hurricane, flood (if in flood hazard zone) and localized peril (if in a lava hazard zone) insurance policies are required at homeowner’s expense. Payments do not include taxes or insurance premiums; your actual payment will be greater. Subject to borrower qualification and credit and underwriting policy. Program subject to change or cancellation without notice.
  6. Land and Construction: The loan discount offer (offer) is applicable for construction and vacant lot purchase loans financed through American Savings Bank (ASB) residential mortgage programs. Promotion is not applicable for brokered out loans or Veterans Affairs Loans. Offer good only with a completed loan application submitted to ASB through 3/31/2025. This offer cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified, and is limited to one promotion per loan. This offer is subject to change or discontinue without notice. Applicant(s) is/are subject to loan qualification, underwriting guidelines, and credit policy of ASB. Offer valid for Hawaii properties only. Certain terms and restrictions apply. For more information, please contact an ASB Residential Loan Officer.
< Back Helpful Articles

#ASBPride: Manaola’s Story – The Search for Happiness

ASB October 18, 2021 | 1 MIN read Community

At American Savings Bank, we embrace and support customers and teammates from all backgrounds and sexual orientations. This diversity provides us with richer experiences and perspectives, which allow us to better understand the communities we serve.

This week, we continue our Honolulu Pride Month celebration with the third of four videos in our #ASBPride series. Manaola Yap, designer and owner of Manaola, and Zachary Pang, chief executive officer of Manaola, share their pride story in the video below.

It’s important to us to create a welcoming environment, safe workplace and inclusive culture that encourages people to talk about and celebrate each other’s unique differences.

This year, we were recognized by Hawaii Business magazine as a Best Company for LGBTQ Equality and as one of the top 100 companies nationwide on People’s 100 Companies That Care list. In 2019, ASB also ranked no. 19 in the 2019 Best Workplaces for Diversity list by Great Place to Work and Fortune.

Want to see more amazing #ASBPride videos and learn more about how we’re celebrating Honolulu Pride Month? Click the button below or check them out on Facebook, Instagram or LinkedIn!
LEARN MORE
 

< Back Helpful Articles

#ASBPride: Elisia’s Story – Returning Home with Pride

ASB October 14, 2021 | 2 MIN read Community

American Savings Bank is committed to creating a diverse, respectful and inclusive company for our teammates and customers. We want people from all walks of life to feel welcome and we believe the world is a better place when people live authentically and share their unique experiences, backgrounds and journeys.

As part of our commitment to support the LGBTQ+ community, we’re highlighting the inspiring and brave stories of some of our teammates and customers during Honolulu Pride Month.

We’re excited to continue our #ASBPride series with a video featuring Elisia Flores, CEO and Vice-Chair at L&L Hawaii and long-time ASB customer.

Mahalo to Elisia for sharing her story.

In addition to our #ASBPride video series, we’re continuing our celebration of Honolulu Pride Month with some more festivities!

  • Leading with ASB Pride: A few of our talented teammates created a tiny float to enter into the Honolulu Pride tiny float competition. It's a replica of the Waikiki trolley some members of the Dream Team rode in the 2019 Honolulu Pride Parade. Click here to vote for our float! Voting ends Oct. 16 at 11:59 p.m. HST.

asb pride image

  • Rainbow-ed Out: We've decked out our ASB Campus in rainbow colors! If you happen to be driving by our home base on Beretania Street, check out how we transformed our front entrance and first floor building windows to show our ASB Pride. And, if you swing by after sunset, you'll see our special building lights during the first two weeks of October!

asb pride image

asb pride image

  • Support ASB Pride: Join our teammates in celebrating PRIDE on Wed., Oct. 27, by sporting your most creative Pride outfit, featuring all the colors of the rainbow.

  • Being a Part of the Discussion: All teammates participate in a mandatory 90-minute interactive course called “Finding the ‘I’ in Diversity & Inclusion” that explores diversity, inclusion and respect.

Stay tuned for more Pride updates throughout the month! To see more awesome #ASBPride stories click the button below or check them out on Facebook, Instagram or LinkedIn!
LEARN MORE
 

< Back Helpful Articles

Be Aware of Ransomware

ASB October 13, 2021 | 4 MIN read Personal

Ransomware is a form of malware designed to hold a victim’s files and device hostage until they’ve paid the demanded ransom. We’re here to help you learn more about this cybercrime so that your information stays protected.

MORE ABOUT RANSOMWARE

Malicious cybercriminals trick consumers and businesses to click on a link or download an attachment, which then holds their personal or business data hostage. Once clicked, the ransomware attacker will then demand ransom in exchange for unlocking your files or device. It begins with an email that may not look suspicious at first glance and may even claim to be from someone close to you like a family member, friend, customer or business vendor. The message will trick you by asking you to click on a suspicious link or download an attachment.

Although paying the ransom may seem like an easy solution, there’s no guarantee that you’ll get your information back or your device unlocked. If you’re a victim of ransomware, you should immediately contact law enforcement. The Federal Trade Commission and law enforcement does NOT recommend you pay the ransom and states that “… it’s up to you to determine whether the risks and costs of paying are worth the possibility of getting your files back. However, paying the ransom may not guarantee you get your data back.”

security image

TIPS AND ADVICE FROM THE FEDERAL TRADE COMMISSION

  1. Scam emails with links and attachments: The latest available statistic from the FTC, approximately 91% of ransomware is downloaded through phishing e-mails. Be aware of suspicious emails which ask you to click links or download attachments. These can put your data and network at risk. Here are a few tips that will help you recognize a phishing email:

    • Phishing emails may look like they’re coming from a company you know or trust.

    • Phishing emails often tell a story that trick you into clicking a link or opening an attachment.

    • Take a minute to ask yourself if you have an account with the company or person who contacted you. If not, it may be a phishing email. If you do, contact the company using a phone number or website to verify the email is legitimate.

  2. System vulnerabilities: Be aware of any potential Operating System or software vulnerabilities which can be taken advantage of by hackers by making sure your device and software is up to date and you use anti-virus software which is also up to date.

  3. Suspicious websites: Be aware of any suspicious websites. Many browsers have built-in security scanners which will warn you if you visit an infected webpage or download a malicious file from a site. However, if it does not and a site is already infected with ransomware, it will automatically download malicious software onto your computer when you open the website.

  4. Suspicious online advertisements: Enable your pop-up blocker if available. Online advertisements which contain malicious code will run unwanted programs, if you click on them, causing harm to a device or compromise data stored on the device. These could show up on a website you know and trust which could be a sign your device has been compromised.

WHAT TO DO IF YOU’VE FALLEN VICTIM TO RANSOMWARE

  1. Limit the damage: Immediately disconnect your infected computers or devices from your network. If your data has been stolen, we recommend you take steps to protect you or your company’s information and notify anyone who may be affected. Make it a good habit to constantly back up your files.

  2. Contact the authorities: If you’ve fallen victim to ransomware, we recommend that you report the attack right away to your local FBI office. If your personal information has been compromised, consider whether you need to take steps to mitigate the risk of identity theft. Click here to learn more.

  3. Notify customers: If you are a business owner and your customers’ data or personal information was compromised, make sure you notify the affected individuals as they could be at risk of identity theft. Click here to learn more.

security image

STAY SAFE AND SECURE AS A BUSINESS OWNER

  1. Have a plan for your business: How will your business stay up and running after a ransomware attack? Put this plan in writing and share it with your leadership team.

  2. Regularly back up your data: We recommend that you regularly save important files to a drive or server that’s not connected to your network. This will add an extra layer of caution. It’s good practice to make data backup part of your routine business operations.

  3. Keep your security up to date: Always install the latest software updates. Look for additional means of protection (e.g. email authentication) and intrusion prevention software, and set them to update automatically on your computer. You may have to do this manually on mobile devices.

  4. Alert your employees: Teach your employees how to avoid phishing scams. We recommend sharing some of the common ways computers and devices become infected so that your employees know what to look for. Be sure to include tips for spotting and protecting against ransomware in orientations and trainings.

  5. Business owners can learn more here.



SHOULD YOU PAY THE RANSOM IF YOU GET ATTACKED?

Law enforcement doesn’t recommend paying the ransom if you fall victim. Ultimately, the decision is up to you to determine whether the risks and costs are worth the possibility of getting your data back. You can learn more ways to stay safe and secure by visiting our Information Security and Fraud Hub.

VISIT HUB



Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.

< Back Helpful Articles

Step Up Your Game with These Cybersecurity Tips

ASB October 08, 2021 | 1 MIN read Personal

With October being National Cybersecurity Awareness Month, Levi Carias, Director of Information Security, joins HI Now Daily to share tips and online resources to keep your information and accounts secure.

Increased screen time due to the pandemic can create opportunities for hackers to steal your information. From pretending to be government agencies offering relief payment to fake contact tracing and vaccination verification, scammers are taking every angle to steal your information and hard-earned money.

Watch the video below to refresh your knowledge on how you can protect yourself and your loved ones from fraudulent scams. You can also visit our Information Security, Fraud & Privacy hub to learn more about commons scams and how to protect your personal information.

< Back Helpful Articles

Avoid Bank Scams with #BanksNeverAskThat Tips and Tools

ASB October 01, 2024 | 2 MIN read Personal

At American Savings Bank (ASB), we’re committed to making banking easy and safe for our customers. With October being National Cybersecurity Awareness Month, we’ve joined with the American Bankers Association to educate bank customers to become pros at spotting a phishing scam—and stop bank impostors in their tracks. It starts with these four words: Banks Never Ask That. Because when you know something sounds suspicious, you’ll be less likely to be fooled.

Male on laptop

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online and mobile banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $10 billion to phishing scams and other fraud in 2023—an increase of 13.6% over 2022.

Male on laptop

It’s time to put scammers in their place.

Online scams aren’t so scary when you know what to look for. And at ASB, we’re committed to helping you spot them as an extra layer of protection for your account. We’ve joined with the American Bankers Association and banks across the country in a nationwide effort to fight phishing—one scam at a time.

These four phishing scams are full of red flags:

  1. Text Message: If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam.

  2. Email: Watch out for emails that ask you to click a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam.

  3. Phone Call: American Savings Bank would never call you to verify your account number. If you’re ever in doubt that the caller is legitimate, hang up and contact us immediately.

  4. Payment Apps: Beware of text messages from someone claiming to be your bank saying your account has been hacked. The scammer may ask you to send money to a new account they’ve created for you, but that’s a scam!

Tips and Tools To Prevent Bank Scams

You’ve probably seen some of these scams before. But that doesn’t stop a scammer from trying. For tips, videos and an interactive game to help you keep scammers at bay, visit www.BanksNeverAskThat.com. And be sure to share the webpage with your friends and family.

LEARN MORE



Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.

< Back Helpful Articles

#ASBPride: John's Story - Embracing Your Pride

ASB October 01, 2021 | 2 MIN read Community

At American Savings Bank, individuals from all backgrounds, interests and sexual orientations are celebrated and supported. It’s important that we create a safe space and inclusive environment that encourages everyone to talk about, appreciate and respect unique differences.

Annually celebrated in October and spearheaded by the Hawaii LGBT Legacy Foundation, Honolulu Pride Month promotes inclusion, diversity and respect. ASB is proud to support the LGBTQ+ community all year long – including during National LGBTQ+ Pride Month every June.

As part of our festivities this Pride month, we’re excited to launch our ASB Pride Story video series where our teammates and community partners share personal experiences on inclusion and diversity. This week, hear from John Ward, Executive Vice President, Chief Marketing and Product Officer.

“I wanted to make a difference and an impact. I knew that from an early age,” said John. “But that wasn’t going to happen if I was openly gay. So I locked it away for a long time.”

For many years, John struggled with sharing his identity with his family, employers and friends. It wasn’t until he joined ASB that he felt comfortable and accepted.

“I never told my boss or work,” said John. “I know for a fact that at many of the places I worked at, if they knew I was gay, I would’ve been fired. When I started at American Savings Bank, I knew that it would be different.”

ASB has received numerous awards for being a diverse and inclusive workplace and a great place to work including being named to Hawaii Business Magazine’s Best Places to Work in Hawaii for 12 consecutive years. In 2020, ASB launched ASB’s Diversity Council, a group of highly engaged teammates that discusses topics and ideas related to enhancing diversity and inclusivity.

ASB is proud to be a workplace where teammates feel welcome and empowered to embrace and tell their stories. Stay tuned for another ASB Pride Story next week.

Do you have a Pride story you’d like to share or want to learn more? Click the button below and tag or message us on social media!
LEARN MORE
 

< Back Helpful Articles

Free Vaccination Clinics at Aala Park on Sept. 12 and Oct. 3

ASB September 09, 2021 | 5 min read Community

ASB is committed to doing our part to stop the spread of COVID-19 in the community. We are partnering with Hawaii Pacific Health to host two FREE COVID-19 vaccination clinics at Aala Park on Sundays, Sept. 12 and Oct. 3.

Both events are are open to the public. Scheduled appointments are encouraged, but walk-ins are welcome.

Participants will have the option to receive Comirnaty (previously known as Pfizer), Johnson and Johnson or Moderna vaccines. Third doses of the vaccine, commonly known as booster shots, are available for immunocompromised individuals.

All participants will receive free giveaways, a delicious treat and resources from partner organizations including Child & Family Service, Pacific Gateway Center, The Trust for Public Land and We Are Oceania.

Click the button below to sign up!

SIGN UP TODAY

COVID-19 vaccination flier

Download Flier

< Back Helpful Articles

Getting Started with Clean Energy Financing

ASB August 30, 2021 | 4 MIN read Personal

More and more homeowners in Hawaii are choosing to go green when powering their homes. Installing solar or other clean energy systems to power your home can help reduce your environmental impact while saving money on utility costs however, this can be a large upfront expense. At American Savings Bank, we want to make it easier for Hawaii homeowners to invest in clean energy technologies for their homes. We’ve partnered with contractors across the islands to give Hawaii residents great financing options for clean energy systems. Read on to learn more about our clean energy loans and financing incentives to help you make your dream of residential solar power a reality.

clean energy graphic

HOW DOES THE CLEAN ENERGY LOAN WORK?

ASB’s clean energy loan is designed to make it more affordable for homeowners in Hawaii to add solar panels and other green systems to their property. To receive the loan, install a covered clean energy system on your home or other residential property. You’ll also need to work with one of our partnered contractors to buy and install your system.

If approved, your clean energy loan can help pay for both the purchase price and installation costs of your new energy system. Fifty percent of the loan proceeds will be sent to your contractor so they can begin the project. The remaining 50 percent is deposited into your ASB bank account to be used to pay your contractor, according to your contract terms.

WHAT SYSTEMS ARE COVERED BY CLEAN ENERGY LOANS?

Clean energy system financing is available for a variety of clean energy systems. Qualifying green energy residential systems include:

  • Photovoltaic (PV) System: PV systems are solar panels you add to your roof or other parts of your property. The PV cells in the panels absorb sunlight and convert it directly to electrical energy in a process known as the photovoltaic effect.

  • Solar Water Heater System: A solar water heater, or thermal solar water heater, uses energy from the sun to heat the water in your home. Energy from the sun is absorbed as heat, which is transferred to a holding tank where the water is heated.

  • Solar PV Water Heating System: A solar PV water heating system uses PV panels to actively convert sunlight into electrical energy to heat the water in your home. The electrical energy from the PV panels is sent to a power diverter that heats your water tank.

  • Solar Air-Conditioning (A/C) System: Solar A/C units use PV panels or thermal panels to absorb energy from the sun and use it to power an air conditioning unit. PV panel systems work similarly to a regular A/C unit by supplying it with the electricity it needs directly from the sun. Thermal solar A/C systems use heat from the sun to warm up water and pass it through an evaporative system.

  • Battery Back-Up or Storage System: This includes batteries and storage systems that can be used to store the energy from your PV or solar panels.

home clean energy

FEATURES OF A CLEAN ENERGY LOAN FROM AMERICAN SAVINGS BANK

Our goal is to make purchasing and installing a clean energy system on your home in Hawaii easy. Clean energy financing from ASB offers straightforward terms, repayment schedules, and extra benefits to make accessing and managing your account simple.

FEATURES OF OUR CLEAN ENERGY LOANS INCLUDE:

  • Direct Loan Disbursement: Once you’re approved for your loan, we’ll send your contractor 50 percent of the loan proceeds. This removes the waiting time and ensures that your contractor can immediately begin the project. We’ll send the remaining loan balance to your ASB account, where you can use it to pay the remaining contractor fees based on your agreed-upon contract.

  • Online Banking Access: Use Online Banking to see your balance, make a payment and manage your loan from anywhere. You can log in on a desktop, laptop or smartphone using the ASB Hawaii Mobile App.

  • Multiple Payment Options: You can choose to set up automatic payments from your ASB checking or savings account so that you don’t have to manage monthly loan payments. You can also pay online through Online Banking.

  • No Prepayment Fees: Want to pay off your clean energy loan early or cut down on your principal amount right after being approved? There are no prepayment penalties, meaning you can pay off as much of your loan at one time without incurring a fee. For example, you might want to use proceeds from a clean energy tax credit to pay off part of your loan.

GET YOUR CLEAN ENERGY SYSTEM TODAY WITH GREEN ENERGY FINANCING

As Hawaii residents, we all have a responsibility to protect our island through efficient energy consumption. Paying less on your energy bill is an added perk! Install a clean energy system using our clean energy loan and do your part today. Learn more about financing your solar PV or thermal energy systems by making an appointment or applying online.

APPLY NOW



Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.

< Back Helpful Articles

Boost Your Financial Health – Take Our Enhanced Financial Checkup!

ASB August 26, 2021 | 5 min read Personal

Living in paradise isn’t cheap. On top of everyday expenses such as buying groceries and filling up gas, it may seem impossible to save enough money to reach your financial milestones. We can help.

In addition to helping monitor and improve your financial health, customers can now use our enhanced Financial Checkup tool to budget for one of their financial milestones, including:

  1. Moving out

  2. Buying a home

  3. Having a baby

  4. Paying for their keiki’s education

  5. Saving for retirement

financial checkup screenshot

Turn your dreams into reality

From setting a budget to contributing to your employer’s retirement plan, our friendly and knowledgeable bankers are here to provide personalized advice to fit your needs and goals. Click the button below to get started! Prefer to visit your favorite banker or branch? Our teammates are ready to assist you. Make an appointment today!

TAKE A CHECKUP



Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.

Subscribe to

  • Customer Banking Center Hours

    Monday - Friday: 8 a.m. to 7 p.m. HST

    Saturday - Sunday: 9 a.m. to 3 p.m. HST

Close mobile search menu
Close mobile ATM menu