HONOLULU (KHON2) — Kuilei Place Markets are officially offering information packets for potential buyers beginning Friday. There are 402 market rate units and 603 affordable units available to qualified residents. Kuilei Place is a new mixed use and residential building located in Moʻiliʻili with 60% of their homes designated as affordable for households at an income of or below 140% the area median income.
Information packets available now are for those interested in the 402 market rate units, however, additional information on the application process for the 603 units under the state’s affordable housing program will be available on the Kuilei website beginning Feb. 10.
The 402 market rate units will be offered to qualified resident owner-occupant buyers first by lottery. To be entered into the lottery, all interested persons must submit a completed affidavit packet prior to March 5. Any available units remaining after the lottery will be offered on first come, first serve basis to qualified buyers who applied by April 4.
Qualified buyers for one of the 603 units available are those who meet the HHFDC eligibility requirements, have incomes at or below the 140% AMI threshold and demonstrate a need for affordable housing. These units specifically are categorized under the state’s affordable housing program. Buyers deemed eligible are also required to sign an affidavit agreeing to remain compliant with the affordable program restrictions. These restrictions include but are not limited to owner-occupancy and the sharing in future net appreciation of property.
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Kuilei Place homes are expected to begin construction late 2023 and finish around mid 2026. Units offered will include up to three bedrooms and units range in size from 489 sq. ft. to 1,086 sq. ft. For more information regarding unit layout and amenities, visit Kuilei’s website to register for an appointment at the Kuilei Place sales gallery.