Updated: September 28, 2022
On Tuesday, Gov. David Ige participated in ceremonies marking milestones for two Maui affordable housing projects – the dedication of the recently completed Kahului Lani senior affordable project in Kahului and the ground blessing for the family-oriented affordable Kaiāulu o Kūku’ia complex in Lahaina.
“We’ve developed partnerships across all levels of government and with the private and nonprofit sectors,” Gov. Ige said. “This comprehensive approach is making a real difference here on Maui and across the state. Residents now have more affordable housing opportunities.”
The governor joined nonprofit affordable housing developer Catholic Charities Hawaiʻi in Kahului for a dedication ceremony to commemorate the completion of the 165-unit Kahului Lani, a senior affordable housing complex.
All 83 one-bedroom units in the recently completed Phase II are being rented to seniors 55 and older who earn no more than 60% of the area median income.
Under HUD 2022 guidelines for Maui, rents at Kahului Lani II run from $642 to $1,284 a month depending on a household’s income. The units must remain affordable for a minimum of 61 years.
The state, through the Hawaiʻi Housing Finance and Development Corporation, provided the project with $17.2 million in Low-Income Housing Tax Credit program tax credits; $14.25 million in low-interest loans from the Rental Housing Revolving Fund; and $2 million from the Dwelling Unit Revolving Fund for road improvements.
Earlier in the morning, Gov. Ige joined Maui County Mayor Michael Victorino and officials from nonprofit affordable housing developer Ikaika ʻOhana in the blessing and groundbreaking ceremony for the Kaiāulu o Kūku’ia complex in Lahaina.
The project, part of the state’s Villages of Leialiʻi master-planned community, will provide rental units for up to 200 families and households that earn no more than 60% of the area median income. Three units are reserved for resident managers.
Kaiāulu o Kūku’ia consists of two-, three- and four-bedroom units, allowing families with two or more generations to live under one roof. Under HUD 2022 guidelines for Maui, two-bedroom units rent for $770 to $1,540 a month; three-bedroom units for $890 to $1,780; and four-bedroom units for $993 to $1,986. The units must remain affordable for a minimum of 65 years.
The Hawaiʻi Housing Finance and Development Corporation owns the land. Ikaika ʻOhana was awarded a long-term ground lease through the Request for Proposals process. Through the development corporation, the state provided $97 million in low-income housing tax credits, $37 million in low-interest Rental Housing Revolving Fund loans, $21 million in tax-exempt revenue bonds through the Hula Mae Multifamily Revenue Bonds process and up to $7.5 million in DURF program funds.
The mission of the Hawaiʻi Housing Finance and Development Corporation is to increase and preserve the supply of affordable housing statewide by providing financing and development resources for housing development.