HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION

The state has opened the doors at the newly renovated Hale ‘O Lā‛ie complex in Kīhei to the first of up to 150 Maui families displaced by last year’s wildfires. Eight households had moved in as of Monday. For details about the complex and the Hawaiʻi Interim Housing Program (HIHP) initiative, go to the #HHFDC homepage!

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Governor Josh Green, M.D., and other government officials joined the developers of the Ililani condominium project to celebrate the completion of the 328-unit project in downtown Kaka’ako on Friday, May 17. Ililani boasts 328 total units, with 197 deemed affordable one- and two-bedroom apartments. The development at Keawe and Pohukaina streets provides crucial housing opportunities for local families in the heart of one of the fastest growing neighborhoods on Oʻahu. “Making housing more affordable for working class families so they can realize their dream of owning their first home is so heartwarming and will go a long way in addressing the affordable housing crisis,” Green said. The Hawaiʻi Housing Finance and Development Corporation reviewed, approved and transmitted the developer’s application requesting exemptions from several developer fees and charges to the Honolulu City Council, which subsequently approved the exemptions. Similarly, a number of exemptions from zoning and land-use regulations were granted with the concurrence of the state Hawaiʻi Community Development Authority. Despite the challenges posed by the COVID-19 pandemic and the recent surge in mortgage rates, developer and local architect Kenneth Chang and his team worked tirelessly with HHFDC to bring this project to fruition. Prices for one-bedroom units start at $477,500 and two-bedroom units cost as little as $582,100. Fourteen units remain available for purchase – 10 of them affordable and four of them market. Interested buyers can find more information at https://liveililani.com/. The grand opening featured a Hawaiian blessing and untying of a maile lei led by Kahu Kordell Kekoa. “We are thrilled to unveil Ililani, which will help families live and thrive in the community they call home,” Chang said. “This development is a testament to what we can accomplish when we work together to address the pressing issue of affordable housing. #IlilaniRising #IlilaniRisen

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HHFDC last week closed on the purchase of the former Maui Sun Hotel in Kīhei from Haggai International Institute for Advanced Leadership Training. The newly renamed Hale ʻO Lāʻie, with 175 guest rooms, will initially be operated as temporary housing for certain individuals and families displaced by last August’s wildfires. HHFDC has contracted with Paramount Hotels LLC, the owner and manager of the nearby Maui Coast Hotel, to provide property management and related services for the project. In accordance with the legislative appropriation that funded the acquisition, Hale ʻO Lāʻie will be repurposed as a teacher and workforce rental housing project with public prekindergarten classroom space once the wildfire-related use has ended. The County of Maui, which will lease and take possession of the property next year, expects to begin the process of selecting a development partner later this year. Upon closing, HHFDC entered into a 75-year ground lease with the County of Maui. The complex, which features 175 guest rooms, has been renamed Hale ʻO Lāʻie at the suggestion of Maui Mayor Richard T. Bissen, Jr. A phased opening of the property for Maui fire survivors is planned to begin by early May. Governor Josh Green, M.D. said that the purchase marks a major milestone toward achieving the goal of ensuring near-term housing stability for Maui fire survivors to enable them to focus on rebuilding their lives. At the same time, he added, Hale ʻO Lāʻie will help to meet his long-term objective to add 10,000 affordable housing units for Hawaiʻi residents statewide.

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  HHFDC has selected two experienced homebuilding companies to master plan and develop up to 900 affordable rental and for-sale homes at one of the largest, remaining undeveloped properties in the Villages of Kapolei. HHFDC’s Board of Directors on Thursday (March 14, 2024) voted unanimously to award developers ʻIkenakea Development LLC and The Michaels Organization a long-term lease for the 19.4-acre property at Farrington Highway and Fort Barrette Road. The property is next to the soon-to-be-opened Hawaiʻi State Veterans Hospital and across from the Kapolei Walmart. The developers have named the new community Haku Kapolei — using the Hawaiian definition of “haku” as an intricate style of native Hawaiian lei-making — to describe its new, mixed-use community. Except for two managers’ units, all rental units are aimed at households earning 30% to 60% of Oʻahu’s area median income (AMI) as set annually by the U.S. Department of Housing and Urban Development (HUD). All sales units are set aside for those earning 80% AMI to 140% AMI. For more information, go to the news release here: https://lnkd.in/gBGde4B6

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