Homebuyer Guidance Offered for Kamalani Affordable Neighborhood in Kīhei
As construction begins on Maui’s first major affordable housing neighborhood in nearly a decade, Maui residents interested in buying their first home are being encouraged to take a homebuyer education course as a critical first step in the home-buying process.
The new Kamalani neighborhood in North Kīhei broke ground in mid-January. Upon completion, the community is currently envisioned to encompass approximately 600 multi-family and single-family condominium homes, along with parks, pedestrian and bike paths, fitness stations and a recreation center.
The project’s first increment will include up to 170 condominium homes with either two or three bedrooms and 1.5 or 2 baths – all of them meeting the County of Maui’s Residential Workforce Housing requirements for affordability.
Prospective homeowners interested in buying a condominium home in the first increment of Kamalani must meet the County’s eligibility requirements for Residential Workforce Housing – including citizenship, residency, income and prior homeownership criteria – as well as complete a homebuyer education course before they may purchase a home in Kamalani’s first increment.
Taught by Hale Mahaolu, the homebuyer classes provide an introduction to home ownership and cover a range of topics including the advantages and responsibilities of owning a home, establishing key members of your home buying team, mortgage payments and other homeownership costs, how lenders determine creditworthiness, and Maui County’s Residential Workforce Housing requirements and restrictions.
Each course provides a total of eight hours of class time split into two 4-hour sessions, one-on-one counseling, and an individualized credit report. After completing the 8-hour course, participants will receive a certificate verifying they have completed the program.
“Homebuyer education classes not only provide a wealth of good information to help first-time homebuyers, they may be required by some lenders to qualify for certain types of home loans,” said Roy Katsuda, executive director of Hale Mahaolu. “Earning the certificate of completion can be very beneficial for anyone hoping to buy their first home.”
Courses are being offered on various dates; a registration fee of $75 applies. Due to limited seating, advance registration is required and may be made online at www.KamalaniLiving.com or by calling (808) 856-4045. The website also offers more information about the County’s Residential Workforce Housing requirements for eligibility.
“A&B has a long history of providing homes for our local communities, and we are excited to help create a beautiful new neighborhood, especially given the critical need for housing on Maui,” said Grant Chun, vice president, A&B Properties. “While we recognize that the homebuyer education courses would be helpful to interested Kamalani buyers, the courses would be beneficial to any new homebuyers, regardless of where they may ultimately choose to live.”