A groundbreaking ceremony was held Tuesday, September 24, 2024, for Nā Hale Makoa, a new affordable workforce rental housing development in Waikoloa 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. Each of these units will be critical in helping Hawaiʻi solve its ongoing affordable housing crisis.

Construction is expected to take about 18 months, and families are anticipated to begin moving into the units during the first quarter of 2026.

“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,” said County of Hawaiʻi Mayor Mitch Roth.

Pacific Housing Assistance Corporation was selected by the County of Hawaiʻi Office of Housing and Community Development following a request for proposals (RFP) in 2020 to develop the rental housing within the County of Hawaiʻi’s existing Kamakoa Nui subdivision on the northern end of Waikoloa Village.

“We have been diligently working with our development team and our State, County and private financing partners on the Nā Hale Makoa project since 2020. We appreciate their support and look forward to starting construction on this much-needed workforce housing development to help our working families in West Hawaiʻi,” said Audrey Awaya, executive director of Pacific Housing Assistance Corporation.

The County is leasing the approximately 10-acre site for 68 years to Kamakoa Nui Limited Partnership, the ownership entity.

“By partnering with Pacific Housing Assistance Corporation and the Kamakoa Nui Limited Partnership, and utilizing county land effectively, we are not only providing homes but also fostering a stronger, more vibrant community. This project is a testament to what we can achieve when we work together towards a common goal of enhancing the quality of life for all our residents,” added Mayor Roth.

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 kitchen for meetings/gatherings, resource and technology center with high-speed internet access, management office and a keiki playground. Picnic areas and walking/biking paths are provided throughout Nā Hale Makoa.

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 Production Program and 30 Project-Based Vouchers awarded by the County of Hawaiʻi Office of Housing and Community Development.

“Creating affordable housing options for our workforce families continues to be a top priority for Governor Josh Green and HHFDC,” said Dean Minakami, HHFDC executive director. “Nā Hale Makoa offers us further proof that the best way to achieve this goal is through the formation of partnerships that bring together private homebuilders and various government agencies.”

 

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. (sitework), and Resort Management Group, LLC (landscaping). Property management will be provided by Indigo Real Estate.

Pacific Housing and its property manager will keep the community informed of project updates. Applications will be accepted starting around September 2025.

Previous development on County of Hawaiʻi-owned land within the Kamakoa Nui subdivision includes 185 homes and a 12-acre park. Future development proposes hundreds more affordable rental and for-sale units, a library and public school for the Waikoloa Village community.

The Office of Housing and Community Development anticipates it will seek bids by the end of 2024 for the construction a loop road and related infrastructure that will open vacant land within Kamakoa Nui for future development. Funding for this infrastructure project was provided in part by the Affordable Housing Production Program established in 2022 to increase the availability and accessibility of affordable housing on Hawai’i Island.

“As we move forward with the Kamakoa Nui project, this next phase will not only expand housing options but also enhance community resources. By investing in essential infrastructure, we're laying the groundwork for a vibrant and sustainable future where every resident has access to an affordable home where they can forge a path to a better future,” said County of Hawaiʻi Housing Administrator Susan Kunz.

For more information about Nā Hale Makoa, please visit https://www.pacific-housing.org/na-hale-makoa.

About Pacific Housing:

Pacific Housing Assistance Corporation is a Hawaiʻi non-profit housing organization, formed in 1980 as a housing initiative of the County Community Action Agencies. The nonprofit has developed or assisted other organizations in creating over 1,800 units throughout the State of Hawaiʻi and was recently selected by the School Facilities Authority to develop the State’s first teacher workforce housing project at Mililani High School on Oʻahu. Pacific Housing’s mission is to create, preserve, and operate affordable housing for the elderly, low, moderate, and gap group income residents, and those with special or functional needs in Hawaiʻi. For more information, visit  https://www.pacific-housing.org/.

About County of Hawaiʻi Office of Housing and Community Development:

The County of Hawaiʻi Office of Housing and Community Development is responsible for the planning, administration, and operation of all County of Hawai’i housing programs. Our Mission is to provide for the development of viable communities through decent housing, suitable living environments and expanded economic opportunities. For more information, visit http://www.housing.hawaiicounty.gov.

About Hawaiʻi Housing Finance and Development Corporation:

The Hawaiʻi Housing Finance and Development Corporation is the primary agency charged with overseeing affordable housing finance and development in Hawaiʻi. Led by a nine-member board and executive director, HHFDC works with the state’s residents, housing developers and financiers to make housing dreams come true. For more information, visit https://dbedt.hawaii.gov/hhfdc/.

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Media Contact:

Chelsea Jensen
Public Information Officer
County of Hawaiʻi Office of Housing and Community Development
Phone: (808) 961-8379
Email: ChelseaA.Jensen@hawaiicounty.gov
Website: www.housing.hawaiicounty.gov