A new initiative from the Hawai‘i Housing Finance and Development Corporation (HHFDC) aims to support essential workers in Hawai‘i, such as healthcare professionals, educators, law enforcement officers, and agricultural workers, in purchasing their own homes. The DURF Equity Pilot (DEP) Program, a five-year effort that launched this year, is part of the broader Dwelling Unit Revolving Fund (DURF), established in 1970 to help fund housing developments and infrastructure projects. HHFDC’ goal was to explore ways to make housing more affordable for middle-income earners. They have many programs for households earning up to 60% of the area median income, but fewer options for those above that threshold. DURF has received $50 million annually from the state legislature over the past two years, with $10 million allocated for the pilot DEP program. Under the DEP program, HHFDC purchases partial equity in condominium units offered to qualifying professionals, typically 10% to 20% of the purchase price which reduces the upfront cost for the buyer. When the homeowner eventually sells the property, they repay the equity and the state recoups its investment through its share of the equity. To qualify for the program, buyers must already be residents of Hawai‘i and agree to live in the property they purchase, among other eligibility criteria. New construction developments participating in the DEP program along with the avaialble units offered are: Kuilei Place in Moiliili:  28 Two-Bedrooms Modea on Queen Street in Downtown Honolulu: 12 studio and 13 one-bedroom units. The Flats at Sky Ala Moana East: 24 studios and 2 two-bedrooms. For information visit any one of the participating projects above or email us at info@onepacificrealty.com.

Also known as the heart of the village, Koa Ridge is moving fast, and before you know it, you’ll see a fully developed community right before your eyes! A Community Built on Success Castle & Cooke have a proven track record of creating highly desirable communities, such as Mililani Mauka. Now, they are bringing their expertise to Koa Ridge. Malu Koa West is just a small part of this expansive and growing community, but its prime location in the heart of Koa Ridge ensures that you’ll be right where the action is.  The Village Green lawn will be the hub for farmers markets, cultural performances, art exhibits, and much more! Country Meets Contemporary  Malu Koa West will consist of 2 mid-rise buildings offering studios, one, two, and three-bedroom homes. This development won’t give you the typical high-rise city condo feeling but rather a condo-country home ambiance, perfect for those seeking a blend of tranquility and modern living. The Perfect Commute If you’re familiar with the notorious afternoon traffic coming from town, you’ll understand the importance of a well-placed home. Imagine coming home to Koa Ridge, where you’re perfectly positioned to avoid the worst of the traffic snarls.  Whether you’re heading to the west side, central Oahu, or the north shore, Koa Ridge offers unparalleled convenience and accessibility. Koa Ridge is strategically located right in the middle where the road forks to the west side, central, and north. Literally smack in the middle! It doesn’t get better than this! Stay tuned for more updates on this exciting development and get ready to experience the best of both worlds at Malu Koa West! Register & Learn More About Malu Koa West Here. Explore Other Communities In Koa Ridge: Waioha II - Selling Nanea - Phase III (TBA) Malina II - Affordable Housing (TBA)  

The Ililani Condominium in Kaka'ako, a much-anticipated condominium development spearheaded by developer Ken Chang, has finally opened its doors after years of setbacks. On Friday Governor Josh Green, City officials, the developer's team and guests attending the blessing and official openning. This significant milestone is not just a testament to the developer's unwavering dedication but also a beacon of hope for affordable housing in Honolulu. Nestled in the vibrant neighborhood of Kaka'ako at 615 Keawe Street, Ililani offers a unique blend of modern living and urban convenience. The development, which features a variety of one and two-bedroom units with lanais, is designed to cater to a diverse range of residents, from young professionals to growing families. The building boasts amenities such as a rooftop deck, community garden, putting green, wading pool, events room and secure parking, ensuring a comfortable and sustainable lifestyle for its inhabitants. Ililani's journey has been anything but smooth. Despite facing numerous challenges, including the coronavirus, regulatory hurdles and market fluctuations, developer Chang remained committed to his vision of providing affordable housing. Remarkably, he was able to convert a number of market homes to affordable homes thus increasing the availability over the original numbers while also increasing the number of parking stalls. In addition, maintaing pricing consistenncy was particularly significant in a market where property values have soared, making homeownership increasingly out of reach for many. The opening of Ililani is a critical development for Kaka'ako, an area undergoing rapid transformation. By focusing on affordability, Chang has not only contributed to the community's growth but also set a precedent for future developments in the region. His efforts ensure that Kaka'ako remains accessible to a broader demographic, fostering a more inclusive and diverse community. Our brokerage, ONE Pacific Realty has assisted a number of buyers with their Ililani purchase, and are seeking a few more buyers to fill the remaining available 1 and 2 bedroom homes. Prospective buyers still have the opportunity to become part of this groundbreaking development and enjoy the benefits of living in one of Honolulu's most dynamic neighborhoods. For more information or to apply for one of the remaining homes, visit Ililani Kaka'ako, or contact one of Our Agents, or email info@onepacificrealty.com.