Looking to buy an affordable condo at The Flats At Sky Ala Moana or The Park on Keeaumoku but worried about the qualifying ratios? We have some fantastic news! Effective April 1st, 2024, the Department of Planning and Permitting (DPP) is eliminating the 33% Debt-to-Income (DTI) requirement for these two development's Affordable Housing units. This change addresses a major hurdle for many potential buyers who may have been previously disqualified due to student loans, car payments, or other existing debts. By removing the 33% DTI restriction, the DPP aims to increase accessibility and open the doors for more qualified individuals to achieve homeownership at these sought-after new buildings. What Does This Mean for You? If you've been eyeing a condo at The Flats or The Park on Keeaumoku but the DTI ratio was a concern, now's the perfect time to revisit your options! Contact ONE of our Sales Agents to learn more about the application process and eligibility requirements under the revised guidelines. Important Notes: While the DTI requirement is lifted, other qualifying factors like income limits, household size, credit score will remain unchanged and still apply. A unique benefit of this Affordable program is NO SAE (Shared Appreciation Equity) is required. The Flats have Affordable Studios, 1 & 2 Bedrooms available starting from $270,000 Fee Simple! The Park On Keeaumoku have Affordable Studios, 1 & 2 Bedrooms available starting from $348,000 Fee Simple! This change is a welcome step towards expanding affordable housing opportunities in Hawaii. We look forward to seeing more residents achieve their dream of homeownership at The Flats and Park on Keeaumoku!

Wishing you and your Ohana the very best this holiday season 🎁 and into the new year!💥 From all of us at ONE Pacific Realty🧡#Christmas2023 #NewYear2024 #HappyHolidays #AtHomeInTheIslands #LuckyWeLiveHi #OnePacificRealty

The definition of workforce housing in Hawaii varies from island to island. In general, workforce housing is considered to be affordable housing for households with earned income that is insufficient to secure quality housing in reasonable proximity to the workplace. In Honolulu, workforce housing is defined as housing that is affordable to households earning between 60% and 140% of the area median income (AMI). In Maui, workforce housing is defined as housing that is affordable to households earning between 50% and 140% of the AMI. Workforce housing is often targeted at essential workers, such as teachers, firefighters, and nurses. This is because these workers often have lower incomes than other professionals, but they are still essential to the functioning of the community. Workforce housing can help to ensure that these workers can afford to live in the communities where they work. Workforce housing can be developed by both public and private entities. Public entities, such as the state or county government, can develop workforce housing using tax credits or other subsidies. Private entities, such as developers or builders, can also develop workforce housing, but they may need to charge higher rents or prices to make a profit. Workforce housing is an important part of the solution to the affordable housing crisis in Hawaii. By providing affordable housing to essential workers, workforce housing can help to keep communities vibrant and resilient. For more information about Workforce and Affordable Housing opportunities email info@OnePacificRealty.com.