Kihei, Maui - The Hale O Pi'ikea III project, a visionary endeavor aimed at providing affordable multi-family rental housing to low-income Maui residents, has received a substantial boost through a series of noteworthy funding awards. These awards reflect a resolute commitment to fostering inclusivity, sustainability, and community well-being.

The project's financial foundation has been fortified by the prestigious 9% Low-Income Housing Tax Credits (LIHTC), a testament to its alignment with vital community development objectives. This key funding source will empower the project to progress with momentum, ensuring that the dream of accessible housing becomes a tangible reality.

Further strengthening this endeavor is the support extended through the Rental Housing Revolving Funds (RHRF). This infusion of resources underscores the project's viability and its potential to make a meaningful difference in the lives of low-income Maui residents.

The County of Maui Affordable Housing Fund Grant stands as another critical pillar of support for the Hale O Pi'ikea III project. This grant signifies a collaborative effort between local authorities and the development company, united by the shared vision of enriching the community through accessible and sustainable housing options.

A testament to the project's holistic approach is the involvement of the HOME Partnership Program, which exemplifies the synergy between public and private entities in addressing pressing societal needs. This program's involvement further validates the project's mission of providing long-term rental housing solutions to individuals and families with limited resources.

These funding awards underscore the progress and dedication invested in the Hale O Pi'ikea III project. As the development continues to take shape, it promises to be a beacon of hope, embodying the transformative power of collaboration, innovation, and a steadfast commitment to serving the community's best interests.

In the picturesque setting of Kihei, Maui, the Hale O Pi'ikea III project stands as a testament to the potential of visionary development to create lasting positive change. With the generous support of the 9% Low-Income Housing Tax Credits, Rental Housing Revolving Funds, County of Maui Affordable Housing Fund Grant, and HOME Partnership Program, this endeavor is poised to redefine the landscape of affordable housing and make a meaningful impact on the lives of those it seeks to serve.

List of Awards:

$1,027,464 in Annual Federal Low-Income Housing Tax Credits (LIHTC) over a 10-year period and $1,027,464 in annual State LIHTC over a 5-year period from the volume cap pool. (9% LIHTC)

Rental Housing Revolving Funds (RHRF) - $6,742,414

County of Maui Affordable Housing Fund Grant - $1,897,586

HOME Partnership Program - $3,397,586