Nā Hale Makoa, a 140-unit affordable workforce rental housing community in Waikoloa Village, was recently dedicated with a traditional maile lei untying ceremony led by Kumu Keala Ching. The new community, located at 68-3491 Iwikuamo‘o Drive, fills the strong demand for affordable housing for those working in the Waikoloa area.

Developed by Pacific Housing Assistance Corporation, the community sits on 10.3 acres of Hawaiʻi County land and includes a mix of one-, two-, and three-bedroom units, along with a resident manager’s unit, serving households earning up to 140% of the Area Median Income (AMI).

Construction of Nā Hale Makoa’s 15 two-story multi-plex buildings was completed in 17 months and residents started moving into their new homes in February this year. More than 90% of the units are currently leased.

The $84.5 million project was made possible through a combination of funding sources, including the Hula Mae Multi-Family Revenue Bond Program, Low-Income Housing Tax Credit Program, and Rental Housing Revolving Fund Program administered by the Hawaiʻi Housing Finance and Development Corporation. The County also provided $2 million through the Affordable Housing Production Program and 30 project-based vouchers administered by the County’s Office of Housing and Community Development.

Pacific Housing Assistance Corporation was selected by the County to develop Nā Hale Makoa following a request for proposals in 2020. The County granted a 68-year lease to develop Nā Hale Makoa.

Pacific Housing Assistance Corporation is a nonprofit developer founded more than 45 years ago, and to date, has developed more than 60 properties for kūpuna, low, moderate and gap group income residents, and those with special needs.

Hawaiʻi County Photo