On Oahu, the Kakaako district in urban Honolulu is fast becoming an attractive and vibrant residential community that represents a unique housing opportunity for Hawaii residents looking to live close to the Honolulu business district, Ala Moana, and Waikiki while substantially reducing their daily commute time to work.
Reserved housing is designed to provide affordable to moderate housing primarily in areas like Kakaako and portions of West Oahu, for buyers earning less than 140 percent of the Honolulu area median income (AMI) as established from time to time by the United States Department of Housing and Urban Development (HUD).
New for 2024, at 140% AMI, income limits start at $117,700 for a 1 person household up to $168,150 for a 4 person household. All buyers will need to go through a qualifying process to ensure they meet the HCDA reserved housing requirements as well as lender requirements.
View the complete income and asset limit charts below:
*For each person in excess of eight, the four‐person income limit should be multiplied by an additional 8 percent. (For example, the nine‐person limit equals 140 percent [132 + 8] of the relevant four‐person income limit.) *Income limits are rounded to the nearest $50.
*HUD base figures (underlined) were interpolated by HCDA. This chart is provided as a guide only.
The Hawaii Community Development Authority (HCDA) is a State agency that was established to supplement traditional community renewal methods by promoting and coordinating public and private sector community development.
What are the benefits?
1) Ideal Location
2) Provides first-time home buyers with an opportunity to live in Kakaako, West Oahu, and other fast growing communities on Oahu.
3) Allows eligible and qualified applicants to purchase at below market prices.
4) Gifts & Co-signing Allowed
5) Reserved housing provides an opportunity for local residents to live in a brand new development that they might not otherwise be able to afford.
What are the eligibility guidelines?
1) At least 18 years of age, and a U. S. Citizen or permanent resident;
2) May not have a majority interest in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State for a period of 3 years immediately prior to the date of application for a Reserved housing unit;
3) May not have a spouse or dependent child who has a majority interest, in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State for a period of 3 years immediately prior to the date of application for a reserved housing unit;
4) May not be the owner or lessee and occupant of a reserved housing unit;
5) May not have a record or history of conduct or behavior, including past rent payments, which may prove detrimental to other tenants or the authority. This criterion shall be applied within parameters set by federal laws in discrimination including the Americans with Disabilities Act;
6) Be able to provide income & asset verification.
7) Regulated term, buy back, & shared equity requirements apply.
For more information regardind Reserved Housing, visit the HCDA website at http://dbedt.hawaii.gov/hcda/reserved-housing/
What are the available, or Coming Soon Reserved Housing New Construction projects in town?
Ulana Ward Village- SOLD OUT
Alia - COMING SOON, REGISTER NOW.
Kahuina - COMING SOON, REGISTER NOW.
Kaulu by Gentry - NOW SELLING | VA Approved
Want to be notified of upcoming Reserved Housing opportunities?
To join our "Early Interest/Coming Soon" list for upcoming new construction projects including Reserved Housing opportunities, please register below.
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