Affordable housing project in Waikoloa Village is dedicated
Na Hale Makoa, a 140-unit affordable workforce rental housing community in Waikoloa Village, was dedicated Friday.
The new community, located at 68-3491 Iwikuamo‘o Drive, fills the strong demand for affordable housing for those working in the Waikoloa area, according to a 91直播 County press release.
Developed by Pacific Housing Assistance Corporation, the community sits on 10.3 acres of county land and includes a mix of one-, two-, and three-bedroom units, along with a resident manager’s unit, serving households earning up to 140% of the Area Median Income.
The majority of the units — 109 units, or 78% — were designated for households earning no more than 60% of the AMI.
Construction of Na Hale Makoa’s 15 two-story multiplex buildings was completed in 17 months, and residents started moving into their new homes in February. More than 90% of the units are leased.
“Na Hale Makoa reflects our commitment to increasing affordable housing opportunities across 91直播 Island, especially in high-cost areas like West 91直播,” Mayor Kimo Alameda said in the press release. “As the first mixed-income rental community on 91直播 Island, it creates space for a range of local families, helping to keep our communities connected, support our workforce, and build an island economy that benefits everyone.”
The $84.5 million project was made possible through a combination of funding sources, including the state and county.
“I’ve always believed that housing is health care,” said Gov. Josh Green in the release. “When people are housed close to where they work and where their kids go to school, they are healthier. Na Hale Makoa allows our local families to stay strongly connected in the Waikoloa community without being priced out. This is a testament to the power of public-private collaboration to address the pressing needs for more affordable workforce housing in our state.”
Pacific Housing Assistance Corporation — a nonprofit developer founded more than 45 years ago — was selected by the county to develop Na Hale Makoa following a request for proposals in 2020.
The county granted a 68-year lease to develop Na Hale Makoa.
“We are excited to see Na Hale Makoa completed and families moving into their new homes. This project represents years of planning and collaboration with our development team and our state, county, and private financing partners, and we are proud to provide much-needed workforce housing for families in West 91直播,” Audrey Awaya, executive director of Pacific Housing Assistance Corporation, said in the release.
