34th Perpetually Affordable Home on MauiJune 4, 2019, 9:40 AM HST · Updated June 4, 9:40 AM 0 Comments
The keys to Nā Hale O Maui’s newest permanently affordable home were presented to Lavuai Sisouvong and his wife Andrea.
“We are very excited,” said Andrea Sisouvong. “It’s been a long time coming. We have been struggling to find a home for the last four years. We went to a NHOM information night four years ago. The kids are super excited. They have their own bedroom.”
Cassandra Abdul, NHOM’s Executive Director said the home was sold at a price “substantially below” the fair market value. “It will remain affordable in perpetuity and never go to market price. Any future resale would be made to an island family earning between 80-120% of the Area Median Income. The Selling homeowner would receive a portion of shared appreciation, keeping the home affordable for the next homeowner,” said Abdul
This is Nā Hale O Maui’s 34th home and the 39th family to benefit from the Community Land Trust. Organization leaders say NHOM is Hawaiʻi’s only fully operational Community Land Trust.
Earlier this month, Nā Hale O Maui held a blessing of 12 vacant home sites located in the Kahoma Residential Subdivision on Komo Mai Street in Lahaina. The new homes will be added to the 34 permanently affordable homes that NHOM has already produced.
The homes are planned as critically needed workforce housing to help keep Maui’s teachers, first responders, county workers, health care workers and others in Hawaiʻi.