What you can use a HELOC for
There's no single right answer — a HELOC is flexible financial access you control. Here are some of the most common ways our members put it to work.
How your rate works
Here's exactly what to expect over the life of your HELOC.
YEARS 1-3 · FIXED PERIOD
Fixed rate as low as 5.25% APR*
Your rate is locked in for the first three years. Predictable payments you can plan around, no matter what the market does. Borrow what you need (minimum $500 per draw), and only pay interest on what you use.
YEARS 4-10 · ADJUSTABLE RATE
Rate adjusts semi-annually
YEARS 11+ · ADJUSTABLE RATE
No longer able to make draws
It's Easy to Get Started
If you’re already a Maui County FCU member, applying for a HELOC is quick and easy. Just stop by our Main Branch or apply online.
Not a member yet?
Membership is easy if you live or work on Maui. You can apply for membership and your loan online or schedule an appointment at your convenience.
Frequently asked questions
Get answers to commonly asked questions.
Any loan that uses your home as collateral deserves careful consideration — and we take that seriously. That's why we walk every member through exactly how it works, what the payments look like, and whether it makes sense for their situation before anything is signed. We're not here to get you to commit to something that doesn't work for you.
You can apply for a credit limit between $20,000 and $500,000 — up to 80% of your home's appraised value, minus any existing mortgage balances. Given Maui's strong property values, many homeowners have more accessible equity than they realize. Your lender will help you calculate yours.
What happens after the 3-year fixed period?
After the initial 3-year fixed-rate period, your rate adjusts semi-annually based on the 6-month Treasury Bill rate. Your lender will explain exactly how adjustments work and help you plan for it — there are no surprises if you go in with a full picture.
Most closing costs — typically estimated between $500 and $1,200 — may be waived, provided you make a minimum disbursement of $5,000 within the first 6 months of opening your account and keep the line open for at least 12 months. Your lender will walk you through any costs that apply to your situation.
What insurance do I need to carry?
Borrowers are required to maintain fire and hurricane insurance on the property used as collateral. If your property is in a flood zone, flood insurance is also required. These are the borrower's responsibility and must remain in force for the life of the HELOC.
HELOCs are available for primary and secondary residences (1st and 2nd home mortgages) in the State of Hawaii. They are not available for condotels, leasehold properties, modular homes, or manufactured homes. Not sure if your property qualifies? Just ask — our mortgage team can tell you quickly.
Do I need to be a MCFCU member?
Yes — membership is required, and it's open to anyone who lives, works, worships, or attends school in Maui County. If you're not already a member, opening an account is quick and easy. Talk to us and we'll take care of it together.
* 3-year Intro Rate as low as 5.25% Annual Percentage Rate (APR). Current Variable Rate as low as 6.50% APR. The introductory rate is valid for applications received until such times that rates change with or without notice. After the 36 month introductory period, your rate will vary and the applicable Current Variable Rate will apply.
The Current Variable Rate is based on the Six Month Treasury Bill Rate plus a margin. Your margin will depend on your property and creditworthiness. The Current Variable Rate shown is current as of 4/1/26 and will not exceed 18% APR. The minimum Current Variable Rate is 3.00% for 80% LTV Fee-Simple Owner-Occupied Property located in Hawaii with all Borrower’s having FICO scores of at least 680. Membership in our credit union is required. You must maintain adequate fire, hurricane, and flood (if in a flood hazard zone) insurance on the property secured. Prior to loan approval, rates, terms, and conditions are subject to change without notice. Payments to third parties of certain fees, which generally total between $500 to $2,200 may be required at closing. Other terms and conditions and restrictions apply. NMLS# 423023