Do I Qualify?
In order to be eligible for a residential workforce housing single family home at Makila Kai, you must meet the the following criteria:
- Be a citizen of the United States or a permanent resident alien who is a resident of the County.
- Be eighteen years of age or older..
- You must have a gross annual family income (not to include the income of minors) which does not exceed one hundred forty percent of the County’s area median income as established by HUD, or as adjusted by the department, for Hana, Lanai, and Molokai. Initial determination for compliance with the maximum gross annual family income provision shall be made by the developer, its partner, or its management company for the initial sale of residential workforce housing units, on the basis of the information provided on the ownership application. The ownership application will be completed when a specific unit is being considered. Final determination for compliance with the maximum gross annual family income provision shall be made by the prospective lender at the time the applicant’s income verification data is received. See table below.
- Have assets that do not exceed one hundred forty percent of the County’s area median income as established by HUD, or as adjusted by the department, for Hana, Lanai, and Molokai. Assets shall include all cash, securities, stocks, bonds and real property. Real property shall be valued at fair market value less liabilities on such real property.
- For a period of three years before the submittal of the ownership application, have not had an interest of fifty percent or more in real property in fee or leasehold in the United States, where the unit or land is deemed suitable for dwelling purposes, unless the applicant is selling an affordable unit and purchasing a different affordable unit that is more appropriate for the applicant’s family size.
- Attend a Home buyer Education Class at Hale Mahaolu. If you have already completed this class for another workforce housing project, we can accept that certificate.
- Pre-qualify with any licensed lender of your choice. Or contact one of the following lenders that has extensive knowledge and experience in approving workforce housing loans.
Makila Kai will offer single family homes with prices ranging from $251,580 to $671,600. In addition, the Brown family, owners of Brown Development and the developer of Makila Kai, will generously provide a sales promotion gift of $50,000 for each home in the form of a price reduction off the above stated purchase prices!
· 8 homes (32%) priced for “Below Moderate” income households earning between 81%-99% of median income.
· 13 homes (52%) priced for “Moderate” income households earning between 100%-119% of median income.
· 4 homes (16%) priced for “Above Moderate” income households earning between 120-139% of median income.
Follow this step-by-step process to apply for a home at Makila Kai:
NO APPLICATIONS ARE BEING ACCEPTED AT THIS TIME.
Contact a lender of your choice and get pre-qualified for a purchase loan. Or contact one of the following lenders that has extensive knowledge and experience in approving workforce housing loans. Please note, you must provide your filed 2016 tax return to the lender for pre-qualification. If you are going to use a lender that is not on our list, please have them email us for the lender certification forms they will need to provide with your pre-qualification letter. Click here to find a lender.
Attend a Home Buyer Class at Hala Mahaolu. Click here for class information. These classes are available on line or in person. If you have already completed this class for another workforce housing project, we will accept that certificate. Click here to visit the Hala Mahaolu website.
After you receive your pre-qualification letter from the Lender and receive your certificate from the home buyer class, send both documents together with the completed Application by Email to: firstname.lastname@example.org.
Once all documents are received by us, you will receive a confirmation and will then be entered into the lottery. At this point there is no deadline for the Application process. Construction is expected to begin in late 2017.
NO LOTTERY DATE HAS BEEN SET YET. ONCE WE HAVE A DATE, WE WILL POST IT HERE