📸 Ikenakea Development At ONE Pacific Realty, we are thrilled to share the latest development news from the heart of Kapolei. Local developer Ikenakea Development has announced plans for Leiwili Kapolei, a vibrant new 900-unit affordable housing complex that is set to transform the community. Affordable Housing for Rent and Ownership This mixed-use development will include a variety of affordable housing options, featuring both rental and for-sale residential units. Whether you’re looking to lease or invest in homeownership, Leiwili Kapolei will offer opportunities for individuals and families seeking modern, affordable living in a growing neighborhood. The project could include 484 affordable units catering to 60% AMI and below— meant for rental tenants — as well as 72 affordable for-sale units at 100% to 140% AMI.  A Hub for Living, Shopping, and Dining In addition to the residential component, Leiwili Kapolei will feature mixed-use retail spaces located on the ground floor. Residents and visitors alike will enjoy convenient access to shops, restaurants, and essential services — making Leiwili Kapolei a true hub for living, working, and enjoying all that Kapolei has to offer. Project Timeline and Affordable Housing Focus Ikenakea is leveraging tax credits and 201H exemptions from the Hawaii Housing Finance and Development Corporation (HHFDC) to ensure this project addresses the urgent need for affordable housing. The 201H exemptions are part of a state initiative to streamline affordable housing projects by waiving certain zoning and building code requirements, speeding up the process while maintaining quality standards. The developer anticipates securing city-issued building permits by April 2027, with construction set to begin in May 2027. The projected completion and lease-up for Leiwili Kapolei is slated for November 2028, bringing much-needed housing relief to the area. A Bright Future for Kapolei Leiwili Kapolei represents more than just housing — it’s a vision for Kapolei’s future. As the demand for affordable homes continues to rise, projects like this are key to ensuring sustainable growth and creating vibrant, inclusive communities. We’ll continue to provide updates as this exciting development progresses. Stay tuned for more details about Leiwili Kapolei, and feel free to contact ONE Pacific Realty at info@onepacificrealty.com if you’re interested in learning more about the housing opportunities in this new community. Leiwili Kapolei is not just a project; it’s a promise for a brighter tomorrow.

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!

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.