Hawai‘i Life Accepting Applications for Kua‘āina Mauka Residential Workforce HousingSeptember 30, 2019, 9:24 AM HST · Updated September 30, 9:24 AM 0 Comments
Hawai‘i Life Real Estate Brokers and TY Property Development LLC recently celebrated the groundbreaking of Kuaʻāina Mauka, a 32-unit residential community in Pukalani.
Kuaʻāina Mauka will include seven fee simple workforce housing units. Of the seven two- and three-bedroom single-family units:
- three will be marketed to residents in the below-moderate income bracket (80 to 100 percent of the area median income, or AMI);
- three to those in the moderate income bracket (101 to 120 percent of AMI); and
- one to above-moderate income residents (140 percent of AMI).
- The units must be owner-occupied for a period of 10 years (below-moderate income); eight years (moderate income); and five years (above-moderate income) before considering a sale.
TY Property Development LLC opened the application process on Sept. 21; the deadline to apply is Saturday, Oct. 19. Application packages are available online at www.Upcountry.HawaiiLife.com/Forms.
In addition to completing and submitting an application, eligible buyers must submit a pre-qualification letter, obtain a certificate of completion from a homebuyer education program, and complete an affidavit of eligibility. Once their application is accepted, an applicant will be placed on one of three waitlists according to their respective income group. Three separate lotteries will take place at 12 p.m. on Sunday, Oct. 27, at Hawai‘i Life’s Wailea office.
To qualify for a workforce housing unit, applicants must be a US citizen or permanent resident alien; be a Maui County resident; and have a gross annual family income that does not exceed 140 percent of the county’s AMI established by the US Department of Housing and Urban Development (HUD) for Maui (excluding Hāna), as adjusted for household size. (For 2018, the maximum qualifying income was $113,960. Visit www.co.maui.hi.us/index to view the updated AMI for Maui County.)
Additionally, an applicant’s assets cannot exceed 140 percent of the county’s AMI, and they must not have owned an interest of 50 percent or more in real estate suitable for dwelling purposes (whether owned in fee or leasehold) in the US within the past three years, unless the applicant is selling an affordable unit and purchasing a residential workforce housing based on it being more appropriate for the applicant’s family size.
Applications must be sent via certified mail to: Kuaʻāina Mauka Sales Office, c/o Hawai‘i Life, Attn: Josh Jerman, R(B), 161 Wailea Ike Pl., Suite C-103B, Wailea, HI 96753. For more information about Kuaʻāina Mauka or to learn more about the application process and eligibility requirements, visit www.Upcountry.HawaiiLife.com, email [email protected] or call (808) 868-1584.
TY Property Development LLC is the developer of Kuaʻāina Mauka; Hawai‘i Life is the exclusive listing broker.