Being eligible for reserved housing at Ke Kilohana, Kakaako

With Ke Kilohana, there are 375 Reserved Housing units and 49 market-priced units. Reserved Housing guidelines are set by the Hawaii Community Development Authority (HCDA). The HCDA is a state organization overseeing development in Kakaako. HCDA requires that a certain percentage of development is targeted to local residents. Therefore it is important to understand about being eligible for Reserved Housing at Ke Kilohana.

There are some basic requirements for being eligible for Reserved Housing in Kakaako:

  1. First Time home buyer (Or hasn’t owned in the past 3 years).
  2. U.S. citizen or permanent resident.
  3. A resident of the State of Hawaii.
  4. At least 18 years of age.
  5. Meet the asset and Income requirements.

 

Income is a strict requirement for Reserved Housing. The upper limit is set at 140% of the Average Median Income (AMI) for Honolulu. That is the maximum someone can make.  Also, it changes every year.  Currently, the requirements are the following:

1 person household:     $85,120 per year

2 person household:     $97,300 per year

3 person household:     $109,500 per year

4 person household:     $121,650 per year

Total asset requirements are also a requirement. Assets that they consider do not include retirement accounts!  Maximum asset requirements are:

1 person household:     $106,438

2 person household:     $121,625

3 person household:     $136,875

4 person household:     $152.063

There are 2 sides to being ready to purchase a Ke Kilohana condo. First is being eligible. The second is being qualified for financing. If you are interested in purchasing a Ke Kilohana and meet the eligibility requirements, contact me for more information.

Ke Kilohana is the latest offering from developer Howard Hughes Corporation. It is a part of their Ward Village development in Kakaako. The condo will be on Ward Avenue at Halekauwila street. It is conveniently located right across the street from the future rail station.

Ask Malia for more information:

    Your Name (required)

    Your E-mail (required):

    Phone (required)

    City

    Your Message

    0 replies

    Leave a Reply

    Want to join the discussion?
    Feel free to contribute!

    Leave a Reply