For Honolulu County (Island of Oahu)
It was announced in the last couple of days that the BAH (Basic Allowance for the Military) will be reduced next year (2016) on Oahu. This is extremely disappointing news for active duty members of the military and their families that will be transferring here. The cost of living continues to increase here in the islands and our government will be cutting the pay of those who risk their lives to defend our country for the second time. They previously reduced the COLA (Cost of Living Allowance).
The third number we patiently waited for is the cap on VA loans for 100% financing. That number was released this evening by the VA. The cap for Oahu will remain unchanged next year at $721,050.
Here are the new BAH numbers for 2016.