Phase transition into the phase with Bose-Einstein (BE) condensate in the two-band Bose-Hubbard model with the particle hopping in the excited band only is investigated. Instability connected with such a transition (which appears at excitation energies δ<|t'₀|, where |t'₀| is the particle hopping parameter) is considered. The re-entrant behaviour of spinodales is revealed in the hard-core boson limit in the region of positive values of chemical potential. It is found that the order of the phase transition undergoes a change in this case and becomes the first one; the re-entrant transition into the normal phase does not take place in reality. First order phase transitions also exist at negative values of δ (under the condition δ>δ_crit≈ − 0.12|t'₀|). At μ< 0 the phase transition mostly remains to be of the second order. The behaviour of the BE-condensate order parameter is analyzed, the (Θ, μ) and (|t'₀|, μ) phase diagrams are built and localizations of tricritical points are established. The conditions are found at which the separation on the normal phase and the phase with the BE condensate takes place.