Hawaiian Community Assets receives $75K grant from Nareit Foundation to expand affordable housing on Maui and Hawaiʻi Island

Hawaiian Community Assets has received a $75,000 grant from the Nareit Foundation to support Maui’s critical housing needs through the Ua Hale Aʻaela lease-to-purchase program.

The program acquires and leases affordable homes to low- and moderate-income families and helps them secure financing to buy the property at a fixed price within two years. Once a family buys the home, the funds from the sale are reinvested into acquiring another affordable property for a new family to lease and eventually purchase.

The recent grant award supports Ua Hale Aʻaela and the rehabilitation of seven properties on Hawaiʻi Island and one property on Maui, with the funds helping to cover costs for labor, materials, supplies, and permits.

According to Hawaiian Community Assets, the Maui unit benefiting from the Ua Hale Aʻaela program has been successfully renovated and is currently in escrow, and will soon be sold to a deserving family. HCA says it is also in escrow to purchase two additional properties in Wailuku, which will become part of the Ua Hale Aʻaela program. It has submitted funding applications to the Maui Strong Fund and Maui County Affordable Housing programs to further the program on Maui.

Hawaiian Community Assets is a statewide nonprofit organization that for nearly 25 years has worked to build the capacity of low- and moderate-income communities to achieve and sustain economic self-sufficiency with a focus on Native Hawaiians. It is the largest Department of Housing and Urban Development (HUD)-certified housing counseling agency in Hawaiʻi.

The grant directly supports Ua Hale Aʻela, the first lease-to-purchase program of its kind in Hawaiʻi. The program serves families who earn at or below 120% of the area median income level, with the objective of bridging the gap between renting and owning a home, and providing program participants with a solid pathway to securing permanent housing.

“We are deeply grateful for this generous grant from the Nareit Foundation, which will allow us to provide our Ua Hale Aʻela clients with safe, welcoming homes that meet their essential needs from the very start,” said Chelsie Evans Enos, executive director of Hawaiian Community Assets. “With this support, we can make critical renovations, such as new flooring, appliances, and fixtures, ensuring that each unit is move-in ready for our clients on Hawaiʻi Island and Maui. This investment in housing quality not only helps create stable living environments but also supports a brighter future for the ʻohana and individuals we serve.”

HCA’s goal is to acquire 28 more affordable housing units through the program in 2025.

The grant awarded to HCA is funded by the Nareit Foundation, a Section 501(c)(3) organization, and REITs operating in Hawaiʻi as part of the Nareit Hawaiʻi Community Giving Initiative, which supports affordable housing projects provided by nonprofits.

Hawaiʻi REITs are long-term property holders that own, renovate and manage affordable housing projects, commercial buildings, medical facilities, shopping centers, logistical spaces and warehouses for small businesses, cell phone towers, public storage facilities, and hotels.

For more information about the support of nonprofit affordable housing projects and other charitable causes by the Nareit Foundation and Nareit Hawaiʻi, visit www.nareithawaii.com.