Home Equity Line of Credit

Use your home's equity for what's important to you, such as home improvements, debt consolidation, school tuition and more

Current Promotional APR1


Fixed for 2 years



Fixed for 5 years

Current Variable APR1


As of 05/01/2022, subject to the
floor rate of 4.50% APR


Download Application  |  Consumer Loan Fee Schedule


Product Features & Benefits

  • No closing costs2

  • Get up to $500 to switch from another financial institution3

  • Lines of credit available up to $1,000,0004

  • $50 annual fee waived with automatic payments from your ASB Kalo DeluxeSM Checking or Private Banking Checking account5

  • Access line of credit by EquityExpressSM Visa® card or checks

  • Free Online Banking with eStatements

Other available home financing options

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Current Rates

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Product Guide

Additional product information and things you should know

Fixed Rate Equity Loan Option

Already have a HELOC and want a fixed rate option?

Current Promotional APR6


Fixed for 10 years



Fixed for 20 years

Current Non-promotional APR

(As of 05/01/2022)


Fixed for 10 years



Fixed for 20 years

Product Features & Benefits

  • HELOCs have up to 5 FRELOs available to draw at any time during its draw period; the FRELO maturity date must not go past the HELOC maturity date

  • Loan terms from 3 years to 20 years with predictable fixed monthly payments for the life of the FRELO

  • As you repay your FRELO, your line of credit is replenished during the draw period

  • Sign the FRELO Addendum to lock in your fixed rate

  • FRELO non-promotional rates

  • No fee to convert to FRELO

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Common Questions:

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What's the Difference Between a Home Equity Line of Credit (HELOC) and Refinancing?

Buying a home in Hawaii is a big milestone. But, what happens after you make the purchase and take out a mortgage? You can use the equity...

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Understanding Interest Rates

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Home Equity in Hawaii: How and When to Use It Thumbnail

Home Equity in Hawaii: How and When to Use It

With home values in Hawaii on the rise, your home equity could be worth more than you thought. Equity in your home is the amount of the property that you own — minus...

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  1. Offer is a two-year or five-year promotion (Promotion Period): Annual Percentage Rate (APR) is 2.75% fixed for two years or 3.50% fixed for five years, from the date your new EEX account is opened. Offer is for a qualifying first or second lien request on an owner-occupant or an investor application received 05/16/2022 through 06/15/2022 that funds by 07/15/2022. Promotional rates require automatic payments from an ASB personal checking account. If you do not have an ASB personal checking account, a Kalo Checking account must be opened. Please see the Personal Deposit Account Terms and Conditions for other terms, conditions and fees for Kalo Checking accounts. Cancellation of automatic payments anytime during the life of the loan may increase your rate to the current non-discounted rate. Offer is not available for properties listed for sale during the prior six months or to an ASB HELOC account secured by the subject property that was closed during the prior six months. If you have not signed your loan documents and a new promotion begins with a different rate, you may opt for the new promotion. After the Promotion Period ends, the interest rate is variable. Current Variable Rate effective 05/01/2022 is 4.50% APR, and is subject to change monthly based on the highest Prime Rate published in the Wall Street Journal, plus a margin (subject to the floor rate of 4.50% APR; maximum APR is 18.00%). 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. EEX 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.
  2. For Equity ExpressSM (EEX) Home Equity Line of Credit (HELOC) accounts up to $400,000 (excluding properties listed for sale within the prior six months), American Savings Bank (ASB) will pay or waive fees and costs for flood certification (up to $9), bank’s title insurance (up to $125), credit report (up to $2.50 per borrower), trust review, condo review, mortgage recording, recording fee for the release of third-party mortgage, and valuation through an automated valuation model and property condition report (up to $185) of ASB’s choice; however, at their own cost, customers may request an appraisal at an estimated cost between $500 and $1,500.
  3. For owner-occupant EEXs up to $400,000 (excluding properties listed for sale within the prior six months), receive a credit of up to $500 at loan signing to offset a third-party lender’s early closing fee when you make an initial advance on your new EEX to pay off your existing home equity line balance of at least $10,000 with that third-party lender. This early closing fee must be assessed and identified by the third-party lender through its payoff procedure in order to receive the credit at loan closing.
  4. Line of credit amount depends on home equity borrower’s creditworthiness and occupancy.
  5. You will be assessed a $50 annual fee on your first periodic statement and annually thereafter during the draw period. The annual fee may be waived by setting up automatic payments from an ASB Kalo DeluxeSM Checking or Private Banking Checking account at loan signing. If you do not have an ASB Kalo DeluxeSM Checking or Private Banking Checking account, one must be opened. Please see the Personal Deposit Account Terms and Conditions for other terms, conditions and fees. Cancellation of automatic payments from the Kalo Deluxe Checking or Private Banking Checking account anytime during the draw period may cancel the annual fee waiver and the fee will be assessed annually thereafter.
  6. Promotion effective for requests submitted 05/16/2022 through 06/15/2022. The promotional rate applies up to five Fixed Rate Equity Loan Options (FRELO) during the draw period of your HELOC; and is available to existing and new owner-occupant or investor EEX accounts with automatic payments from an ASB personal checking account. See the FRELO Conversion Addendum for minimum and maximum amounts for conversion to a FRELO. Based on a 10-year fixed rate loan of $10,000 at 4.00% APR, there will be 120 monthly principal and interest payments of $101.25. Current non-promotional rate as of 05/16/2022 is 7.25% APR for a 10-year fixed rate loan. Other FRELO terms and rates are available. FRELO may be added upon your request.