Maui Residents Begin Selection of Kīhei Affordable Homes
Dozens of first time Maui homebuyers have begun purchasing affordable homes at the new Kamalani community currently under construction in north Kīhei. The first homes are expected to be finished next year.
Earlier this month, Kamalani successfully completed a sales lottery for the new condominium homes in its first increment. The lottery established wait lists that determine the order in which buyers can choose and purchase a home. Kamalani’s first increment is comprised entirely of fee simple condominium homes with either two or three bedrooms and 1.5 or 2 baths, all of which meet the County of Maui’s requirements for affordable housing.
With the completion of the Kamalani sales lottery on July 9, 2016, prospective buyers have begun meeting with the project broker, KW Island Living, to begin the home selection and sales contract process.
Among the first to select and contract a home were Devin and Joseph Kan-hai of Wailuku. “We’ve been watching the Kīhei real estate market for a while, and I’m really looking forward to finally having our own space,” Devin said. “I wish (Kamalani) had come around earlier, when our kids were really little. This kind of community is great for small kids to grow up in.”
“Everyone who submitted an application for the sales lottery deserves to be congratulated for the time and effort they’ve invested into the home buying process, and for taking a big step toward fulfilling their dreams of owning their home,” said Grant Chun, vice president of A&B Properties, an affiliate of Kamalani. “The positive energy at the sales lottery was just wonderful. People were cheering and smiling ear to ear.”
Although the sales lottery is done, applications to purchase affordable housing in Kamalani’s first increment continue to be accepted. Qualifying buyers will be placed on a wait list in chronological order as their applications are approved. To be eligible, buyers must fulfill certain requirements, including completing a homebuyer education course and meeting the County of Maui’s eligibility criteria for residential workforce housing.
“We’re continuing to receive applications from prospective homebuyers and they’re being added to wait lists on a first-come first-served basis,” said Steve Baker, Realtor Broker, KW Island Living. “Homebuyer education courses also continue to be available and we encourage interested buyers to please don’t procrastinate – take the homebuyer education course and submit your application so you can get on the wait list sooner rather than later.”