Updated: October 2, 2022
Maui County Mayor Michael Victorino announced his support of a plan to replace a proposed six story hotel in Wailuku, with much needed workforce housing.
The proposed 125-unit multi-family complex was floated in place of the proposed hotel concept that was met with community opposition in 2020.
Hawaiʻi-based affordable housing developer Lōkahi Global Corporation wants to offer 1, 2, and 2-bedroom + loft residences designed to enhance the “Live-Work-Play” vision of the redeveloped Wailuku Town.
Sixty percent of the units would be priced in the “affordable” range and 40% would be priced at market rates. The project would be located between Main Street and Maluhia Drive, between Central Ave. and Market Street. County officials say the project plans are fully compliant with area zoning requirements.
“I whole-heartedly support this plan because it’s exactly the type of housing that young professionals and working couples are asking for,” said Mayor Michael Victorino in a press release announcement. “It supports a car-free lifestyle for Central Maui workers since a walkable Wailuku and its proximity to the Kaʻahumanu Avenue Community Corridor can eliminate the need for a car, including both financial and environmental costs.”
“Lōkahi Global Corporation is proud to provide walkable, livable workforce housing in the heart of Wailuku Town for the Maui community,” said Timothy Yi, President & CEO of Lōkahi Global Corporation.
Yi developed two previous Oʻahu affordable housing projects: the 485-unit Kapiʻolani Residence and the 513-unit The Central Ala Moana. Both received international awards for excellence in affordable housing.
In 2019, Yi received the “Urban Vision Award” from the International Real Estate Federation-USA for his individual accomplishment of providing society with optimal solutions for property needs, according to the Mayor’s release.
Yi is a graduate of Kaimuku High School and the University of Hawaiʻi, Mānoa. He also earned a Bachelor of Theology from the International Theological Seminary in California.