American Savings Bank is now approved by the US Department of Housing and Urban Development to provide HUD 184A and FHA 247 loans to the Native Hawaiian community. The loan programs are designed to provide affordable financing options to Native Hawaiians for the purchase and refinance of homes on Department of Hawaiian Home Lands leased land.
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Douglas Bigley, president of Ikaika Ohana, discusses the nonprofitâs proposed 63-unit affordable rental housing project, Kaiaulu o Haleleâa, on Monday afternoon during a meeting of the Maui County Councilâs Affordable Housing Committee. The Maui News / KEHAULANI CERIZO photo
A nonprofit housing developer is proposing a new 63-unit affordable rental project in South Maui with monthly rates starting at just over $500.
Ikaika Ohana, which is behind 100-percent affordable housing projects like Kaiaulu O Kupuohi in West Maui and Kaiwahine Village in north Kihei, is now planning the 63-unit Kaiaulu o Halele’a project, which would rent to households at or below 60 percent of the area median income. Two-bedroom units would run from $556 to $1,248 and three-bedroom units would go for $623 to $1,423, according to Douglas Bigley, Ikaika Ohana president. One unit would be constructed for an onsite manager.
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