Maui Business

Local banks take lead on offering mortgage forbearances to Maui homeowners

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Central Pacific Bank employees reopened the Lahaina Branch for customers on Monday, Aug. 28. Photo courtesy: Central Pacific Bank

American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank, and Central Pacific Bank joined Hawaiʻi Community Lending, a Hawaiʻi-based nonprofit community development financial institution, in taking a pledge to provide mortgage forbearances to Maui families impacted by the recent wildfires.

A mortgage forbearance is a temporary pause on monthly payments and typically provided when a borrower has undergone a financial hardship. The accrued principal and interest is placed on the back end of the loan.

As part of its Maui Response and Recovery Strategy, Hawaiʻi Community Lending contacted 51 mortgage servicers locally and nationwide, calling on them to follow federal guidance on providing mortgage forbearances to Maui residents after President Biden’s national disaster declaration issued on Aug. 10. By taking the pledge, servicers agree to provide Maui homeowners with mortgage forbearance for 90 days and up to 12 months depending on individual homeowner needs.                                                                                                                          

Local banks American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank and Central Pacific Bank were the first servicers to take the pledge. Their leadership prompted national servicers, Servbank and Homestreet Bank, to follow suit.

“We mahalo American Savings Bank, Bank of Hawai‘i, First Hawaiian Bank and Central Pacific Bank for standing with our Maui ʻohana at this critical time,” said Jeff Gilbreath, Hawaiʻi Community Lending executive director. “It’s often in crises like these that those who are closest to the community step up first to begin the long process of healing, taking care and recovering.”


According to Gilbreath, during a forbearance period, homeowners may not be charged fees, penalties, or interest beyond what they would have been charged had they continued to make all their mortgage loan payments on time and in full. Homeowners may also shorten the forbearance period at any time and request additional assistance beyond the initial forbearance.

PC: courtesy Hawaiʻi Community Lending

“We are heartbroken for all those impacted by the tragic Maui wildfires,” said Ann Teranishi, president and CEO of American Savings Bank. “ASB is well positioned and committed to supporting our community and working with borrowers as families heal and rebuild. In addition to 90-day forbearance and deferment for commercial and consumer loans, we are waiving all ASB Maui ATM fees, and customers can also apply for an emergency personal line of credit.”

“First Hawaiian Bank understands the challenges that many are facing in the wake of the Maui wildfires. Our team is prepared to provide immediate relief and support to help individuals, families and businesses with their recovery efforts,” said Jeffrey S. Ventura, SVP & Residential Real Estate Division Manager of First Hawaiian Bank. “We are providing deferrals for loans and lines, offering relief with credit cards, and have waived ATM fees for individuals on Maui using First Hawaiian Bank ATMs. We are confident the strength of our Maui community will shine through this tragedy, and we will continue to do everything we can to support our customers and community throughout the recovery process.”                                                                                  

“Central Pacific Bank continues to support the rebuilding efforts of the Maui community in many diverse ways: from the deferral of our customers’ residential, consumer and business loan and line payments to completely standing up our Lahaina Branch in 20 days to serve the financial needs of our customers,” said Rusty Rasmussen, senior vice president and home loans division manager of Central Pacific Bank. “We will look at more innovative ways to support the rebuilding efforts. We continue to grieve for the Maui community, but are confident that our unique culture, collaboration and the strength of the human spirit will ultimately get us through this challenge.” 

“It is our honor to sign this pledge. Bank of Hawai‘i has been part of the Lāhainā community for over 90 years, and we stand shoulder-to-shoulder with our customers during these challenging times,” said Rian DuBach, SVP and Maui Commercial Banking Center Director. “With unwavering support, we launched programs to offer financial relief, including mortgage deferrals and loan extensions, immediately after this devastating tragedy. While all Maui residents are eligible for these programs, to further assist Lahaina residents who have lost their homes in the fire impact zone, Bank of Hawai‘i is providing automatic six-month mortgage forbearances to those impacted customers, with an option for up to 12 months forbearance. We are here to support our Maui neighbors and encourage those who need financial assistance to reach out to Bank of Hawai‘i.”        


If you are a Maui homeowner unable to pay your mortgage due to the disaster, you have several options:

1)    Find your mortgage servicer below and call their phone number to request a forbearance:

–       American Savings Bank: 808-846-4626

–       Bank of Hawaiʻi: 877-926-7297 or 808-694-7297 

–       Central Pacific Bank: 808-871-0505


–       First Hawaiian Bank: 808-844-4178

–       Servbank: 1-866-867-0330

–       Homestreet Bank: 1-800-237-3194

–       All homeowners with USDA Direct or Guaranteed mortgages will receive additional support, including a six-month moratorium on foreclosure actions and up to 12 months of forbearance.                                                                                                                                      

2)    Contact a HUD-certified housing counselor. You can find a counselor near you by visiting and clicking Talk To A Counselor. 

3)    Request a mortgage forbearance by visiting to download a form fillable letter to Request a Mortgage Forbearance.

      With the support and leadership of local financial institutions, Maui families who have lost their homes in the fires can begin the long process of recovery and rebuilding. Visit for a full list of Maui Relief resources.                 


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