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LIHTC Market Study Requirements in Hawaii

What Hawaii Housing Finance and Development Corporation (HHFDC) requires in a Low-Income Housing Tax Credit (Section 42) market study — current as of the 2026 QAP (final, dated 11/14/25), Appendix 1 cycle.

Updated July 2026 · Reference for affordable-housing analysts

The agency & primary document

Allocating agency
Hawaii Housing Finance and Development Corporation (HHFDC)
QAP / guidelines
https://dbedt.hawaii.gov/hhfdc/rental-housing-tax-credit/
Governing document
2026 Qualified Allocation Plan, Appendix 1 — Market Study (final, dated 11/14/25)
Methodology
Agency-specific standalone methodology

Required market study sections

Hawaii uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Agency-specific methodology — HHFDC publishes its own requirements in Appendix 1.

Key Hawaii rules

Staleness window
Market Study must be dated within six months of the application deadline

Hawaii-specific overlays

Things analysts miss in Hawaii

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Frequently asked questions

Who reviews LIHTC market studies in Hawaii?

Hawaii Housing Finance and Development Corporation (HHFDC) sets the market study requirements and reviews submissions for Hawaii Low-Income Housing Tax Credit applications.

How current must a Hawaii LIHTC market study be?

Market Study must be dated within six months of the application deadline

Does Hawaii follow NCHMA standards?

Agency-specific methodology — HHFDC publishes its own requirements in Appendix 1.

Other states

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This summary is for general reference and reflects Hawaii Housing Finance and Development Corporation (HHFDC)'s published guidance as understood by StudyScribe; it is not legal or compliance advice. Always confirm requirements against the current QAP / market study guidelines before submission.