May 20, 2024

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Waikoloa Vacation rentals to build affordable housing in Hawaii Resort

1 min read

The community will be able to accommodate residents who earn between 30 and 100% of the median income in the area.

Waikoloa Vacation Rents is planning to build Ho’omalu, a 229 unit affordable housing project, in Waikoloa Beach Resort. The project will be available to Waikoloa residents who earn between 30 percent and 100 percent the median income of their area. Construction will begin in late 2019 or early 2024.

The first affordable housing community on the Big Island will include one, two, and three bedroom floorplans. The amenities in the common areas will include a pool, fitness center, community center, daycare themed around Hawaiian education, and barbeque area.

Hawaii has one of the most expensive housing costs in the United States, and the housing shortage is a growing problem. High cost of living, lack of funding, legislation concerns, and the increasing demand for housing are all factors that have an impact on the market.

There are other developers who are looking into development opportunities in Hawaii. EAH Housing is developing Hale Na Koa O Hanakahi in Hilo, Hawaii, a property with 92 affordable senior housing units. Veterans, surviving spouses, and seniors who qualify for income between 30 and 80% of the median income in the area are eligible to live at the community.

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