Sales of Kamalani Affordable Homes Begin This WeekendApril 11, 2016, 2:34 PM HST · Updated April 12, 2:48 PM 0 Comments
Kamalani, a new residential community in north Kīhei, will begin accepting sales applications for its first neighborhood on Sunday, April 17, 2016.
Up to 170 condominium homes in Kamalani’s first neighborhood have been designated “Residential Workforce Housing,” also known as affordable housing, and are reserved for Maui residents, with prices starting in the high $200,000s
The fee simple homes feature two or three bedrooms and 1.5 or 2 baths, and are available to those who meet eligibility requirements set by the County of Maui for Residential Workforce Housing.
Prices begin in the high $200,000s for a two-bedroom condominium home, and in the mid-$300,000s for a three-bedroom unit.
Each home comes with a private fenced yard, standard appliances, high speed internet access, and two parking spaces for the flats or an enclosed garage with driveway parking for the townhomes.
Site construction for Kamalani began in March. Upon completion, the community is planned to include approximately 600 multi-family and single-family condominium homes, along with parks, pedestrian and bike paths, fitness stations and a community center.
Prospective homeowners interested in buying a condominium home in Kamalani’s first neighborhood must meet the County’s eligibility requirements for Residential Workforce Housing – including citizenship, residency, income and prior homeownership criteria – as well as complete an approved homebuyer education course, and submit a complete sales application package.
In compliance with Maui County requirements, qualified buyers will be entered into a sales lottery, which will establish wait lists based on income and residency eligibility. The wait lists will determine the order in which prospective buyers will be offered a unit, with priority given to Maui residents. The sales lottery is scheduled to take place this summer.
For the last several months, project developer Kamalani Ventures LLC has been encouraging interested residents to complete a homebuyer education course as a critical component of the home-buying process. To date, more than 300 Maui residents have successfully completed the course.
“Regardless of where a person may ultimately choose to buy, homebuyer education can be highly beneficial for first-time buyers with limited experience or knowledge about the home-buying process,” said Realtor Broker Steve Baker of KW Island Living, Kamalani’s designated project broker in a press release statement. “We’ve received positive feedback from residents who have taken the course, and understand that some of them have already secured a pre-qualification letter from a lender in preparation for completing a sales application for Kamalani.”
Sales applications for will be available beginning Sunday, April 17, 2016, and may be downloaded at at the Kamalani Living website, or picked up at KW Island Living, 285 W. Kaʻahumanu Avenue, Suite 201 in Kahului. The first condominium homes are expected to be completed in 2017.
More information is also available by calling KW Island Living at (808) 856-4045.