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Groundbreaking Held for Nā Hale Makoa Affordable Housing

September 26, 2024 at 5:24 am tdemartini
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na-hale-makoa-rendering-office-of-mayor-roth-photo
A groundbreaking ceremony was recently held for Nā Hale Makoa, a new affordable workforce rental housing development in Waikōloa Village.
Nā Hale Makoa will feature 139 one-, two- and three-bedroom units serving households earning up to 140% of Area Median Income (AMI), as well as one resident manager’s unit. Furnishings include in-unit washer/dryer, range, refrigerator, vinyl plank flooring, window coverings, and ceiling fans. Each unit also features a private lanai and storage closet.
The pet-friendly community also includes a recreation center with a kitchen for meetings/gatherings, a resource and technology center with high-speed internet access, a management office, and a keiki playground. Picnic areas and walking/biking paths are provided throughout Nā Hale Makoa.
Construction is expected to take a little over a year, and families are anticipated to begin moving into the units during the first quarter of 2026.
In a press release Mayor Roth said, “Today marks a pivotal step forward in our commitment to addressing the affordable housing needs of our community. Nā Hale Makoa represents more than just new buildings; it symbolizes our dedication to ensuring that working families have access to safe, affordable, and high-quality housing.”
Funding for the $84.5 million Nā Hale Makoa project comes by way of the Hula Mae Multi-Family (HMMF) Revenue Bond Program, Low-Income Housing Tax Credit (LIHTC) Program and Rental Housing Revolving Fund (RHRF) Program provided by the Hawaiʻi Housing Finance Development Corporation (HHFDC), County of Hawaiʻi Affordable Housing ProductionProgram and 30 Project-Based Vouchers awarded by the County of Hawaiʻi Office of Housing and Community Development.
National Equity Fund, one of the largest nonprofit tax credit syndicators, is the project owner’s limited partner, contributing $36.9 million in equity financing. First Hawaiian Bank is the project’s construction and permanent lender.
Nā Hale Makoa’s contractors include Design Partners Incorporated (project design), Moss Construction Company (vertical and building construction), Isemoto Contracting Co. Ltd. (site work), and Resort Management Group, LLC (landscaping). Property management will be provided by Indigo Real Estate.
Applications will be accepted in September 2025.
For more information about Nā Hale Makoa, visit https://www.pacific-housing.org/na-hale-makoa.
Photo credit: Office of Mayor Mitch Roth
Tags: housing, Mayor Mitch Roth, Nā Hale Makoa, Waikoloa Village
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