If you have a mortgage, your lender may reach out to you about new flood insurance requirements. FEMA is updating its Flood Insurance Rate Maps (FIRMs) for Oahu. Whether you own a home, condominium, or business, if your property is considered high risk under the updated maps, you may be required to carry flood insurance as a result.
What Are the FEMA Flood Maps?
On March 20, thousands of people in northern Oahu received emergency evacuation orders, according to USA Today. After two back-to-back storms and widespread flooding, a dam was at imminent risk of failure.
Flood maps are designed to predict the likelihood of flood during events like this.
No area has zero flood risk. Even if you’re far inland, flooding is possible. However, some areas have more flood risk than others.
FEMA’s flood maps put this risk into a tangible form. If an area has a 1% or greater chance of flooding each year, it is considered high risk. These regions are known as Special Flood Hazard Areas (SFHA).
Although a 1% chance may not sound like much, given enough time, the odds become significant. In any particular year, there’s only a one out of one hundred chance of a flood, but over a 30-year mortgage period, that translates to a one-in-four chance.
Mortgage lenders can use flood maps to determine what insurance requirements are appropriate. If you live in an SFHA and your mortgage is federally backed, you are required to carry flood insurance. However, your lender may require flood insurance even if you’re not in an SFHA.
Why Is FEMA Updating Its Maps?
Flood risks are not static. Over time, an area’s risk may increase or decrease due to changes in weather patterns. Flood maps need to account for these changes, or they will become outdated and inaccurate.
According to the Resilience Office, FEMA studied flood risk in Oahu between 2019 and 2024. The research included many streams that had not been studied before. Based on the findings, FEMA released a preliminary update to its flood maps for Oahu. The maps then went through a 90-day public appeal and comment period. Once this period ended, FEMA reviewed the comments before finalizing its maps.
The updated flood maps for Oahu will go into effect on June 10, 2026.
What the Updated Flood Maps Mean for You
The updated flood maps may not affect you. However, if your risk level has changed, your lender may notify you that flood insurance is required. If you have a mortgage, keep an eye out for a letter from your lender. If you are unable to secure flood insurance, your lender may take out a force-placed policy, and you will be required to pay for it. Force‑placed flood insurance policies often cost more than standard policies purchased directly by the homeowner. Working with your insurance agent may result in better pricing and more coverage options.
How to Secure Flood Insurance
You can purchase flood insurance through the National Flood Insurance Program (NFIP). You may also seek private flood insurance. Be sure it meets your lender requirements before purchasing.
Even if you are not required to carry flood insurance or in a low-risk area, you may want to consider it. Premiums are generally lower and as demonstrated in recent storms, low-risk areas experienced significant flooding. Keep in mind that every property has some flood risk. Without flood insurance, many homeowners and business owners are unable to recover financially after a disaster.
Do you need flood insurance? An agent can help you.