Compare Maui's Best Reverse Mortgages
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Maui Reverse Mortgage Lenders
All Reverse Mortgage, Inc. (ARLO™) is proud to be Hawaii's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating. We currently lend in 16 states.
All Reverse Mortgage was incorporated November 2004 and as the name implies, the only loan product that All Reverse Mortgage, Inc. (ARLO™) originates is in fact, the reverse mortgage.
We’re committed to be your lender because you deserve the best rate at the lowest price possible.
We’re a HUD Approved direct lender lending through the national Home Equity Conversion Mortgage (HECM) programs and offer a suite of Non-FHA & Jumbo Reverse Mortgages to better suit homeowners in Hawaii with higher value homes over the national 2022 lending limit of $1,089,300.
Maui Reverse Mortgage Facts
|City||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in Maui (est)||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage, Inc. (ARLO™) is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). The HECM is HUD's acronym for their reverse mortgage loan.
All Reverse Mortgage, Inc. (ARLO™) originates in Maui and closes both refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan, or possibly a combination of both.
About All Reverse Mortgage, Inc. (ARLO™) of HI
The owners and management of All Reverse Mortgage, Inc. (ARLO™) were part of the team that wrote and sold the first fixed-rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool, and many are now seeking the reverse mortgage to augment their retirement plans and not so much as a mortgage of last resort. Everything from the elimination of the existing mortgage payments to the line of credit that grows that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well.
Of the eight Hawaiian Islands, Maui is the second largest of the islands by land area, and with just over 150,000 residents based on recent census counts, it is the third largest in terms of its population count. With the nickname “The Valley Isle,” Maui is known for its mountainous landscape, including its famed high point atop Mount Haleakalā.
Maui is a major tourism destination and its visitors drive the vast majority of its economic activity. In fact, prior to the COVID-19 pandemic, the island marked an all-time high for its count of visitors, at more than 3 million during calendar 2019, as reported in Maui News in early 2020.
Like its fellow Hawaiian Islands, Maui generally has two seasons: Summer and Winter. The seasons are defined by the National Weather Service as Summer falling between May and October and Winter falling between October and April. The average annual rainfall is roughly 35 inches - in line with the U.S. average across the states. Also like several other islands of Hawaii, Maui’s variable terrain means its temperatures and climate can vary significantly from place to place depending on elevation and trade winds. While some areas may be dry and sunny, others on the island may be rainy and much cooler; particularly in the mountainous areas and at levels of high elevation. According to the National Oceanic and Atmospheric Administration (NOAA), Average daily temperatures are very consistent in Maui, with the average high in February — Maui’s coolest month — at 71 degrees and the average high in August — the warmest month for Maui — at an average of 79 degrees.
The island of Maui is known for an array of destination beaches, with much of its tourism activity taking place around two hubs: Wailea to the south and Lahaina to the west. Wailea features a number of beaches including Makena Beach State Park (known as “Big Beach”), Keawakapu Beach, Kihei Beach, Polo Beach, and Wailea Beach. In proximity to Lahaina to the north and west, beachgoers flock to areas including Kaanapali Beach, Puu Kekaa (known as “Black Rock”), D.T. Fleming Beach Park, Hanakaoo Beach Park, Kapalua Beach, Launiupoko Beach Park, and Puamana Beach County Park. Its favorable climate year-round makes it a destination for weddings, professional gatherings and other events.
The visitor industry is by far the largest economic contributor for Maui, with roughly 80% of every dollar in Maui County generated directly or indirectly by tourism, according to Maui County statistics. Visitors travel to Maui year-round from around the globe, providing ongoing support of the local shops, dining establishments, hotels and other businesses. During the winter, humpback whales migrate through the region, making that time of year a prime opportunity for whale watching and waterfront excursions. Travelers to the island also enjoy exploring the “road to Hana” or The Hāna Highway, which curves around Maui’s mountainous terrain and can be followed for access to black sand beaches and countless waterfalls. The Road to Hana features 45 miles of winding roadway, with more than 50 one-lane bridges and more than 600 turns. Across the island of Maui, there are roughly 120 miles of coastline and 30 miles of beaches including the lengthy Kaanapali beachfront walking path, featuring miles of Hawaiian coastline.
Surfers, windsurfers and other water enthusiasts can be found at points along the way, or around the most populous areas of West Maui and South Maui. Lahaina features a small port and ferry service as well as a bustling street filled with restaurants, bars, shops and other destinations.
Maui’s history includes several settlements among Polynesians, possibly dating back as far as prior to 450 A.D. Settlers from Tahiti later introduced many of the cultural elements still known today from language to religion and customs. The island historically has been a producer of pineapples and sugar cane, grown in various regions across the island, and which led to the development of a small railroad, The Lahaina, Kaanapali and Pacific Railroad (LKPRR). The steam-powered heritage railroad formerly operated the Sugar Cane Train, which is no longer in operation.
According to Reator.com, the median listing home price in Maui was $949,000 as of January 2022. This average increased more than 19% year over year. The median home sold price was $860,000, meaning many homes are valued near or above the federal maximum reverse mortgage lending limit of $1,089,300 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
Did you know? Hawaii state does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Maui Senior Population and Lending Limits
The city of Maui is also home to a large and thriving senior community, with as much as 31% of the city’s total population of over 40,000 people being seniors aged 65 and over. Over 6,500 homeowners currently living in Maui are at least age 62, the youngest age at which a person can be eligible to obtain a reverse mortgage. Several of these older homeowners have already done their research and begun using reverse mortgages to support their retirement needs.
The median home price in Maui is $366,600, according to the Zillow Home Value Index. Prices in the area have increased 5.1% since 2018, and Zillow projects that they will continue to rise over the course of the next year.
While some homes in Maui may be worth more than this median value, if your home has been appraised for more than the HUD lending limit of $1,089,300, you may still be able to tap into your home equity with the help of a reverse mortgage.
If you're a homeowner who fits this description and you're interested in using a reverse mortgage to supplement your retirement, you might want to consider a jumbo reverse mortgage, from which you may be able to access a greater portion of your home equity than you otherwise would with a HUD-backed HECM reverse mortgage.
Reverse mortgages might not be the perfect solution for every homeowner, but depending on your situation, a HECM could be something to consider as you approach your retirement years.
If you reside in Maui, All Reverse Mortgage, Inc. (ARLO™) is here to answer your questions
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Maui homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our program benefits that you won't find elsewhere:
|Exclusive 5.81% (6.81% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 4.88% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Options|
|ZERO Financed Closing Cost Options (*on select jumbo programs)|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved direct lender.
Working with a local Maui, HI lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|