16 Homes at New Affordable Subdivision at Mokuhau
A blessing was held for the new affordable housing subdivision at Mokuhau in Happy Valley on Monday.
The project, developed by Lokahi Pacific, includes 16 three-bedroom, two-bath homes on a nearly 2 acre parcel located along Mokuhau Road near the corner of Market Street.
The homes are fee-simple to qualified Maui residents with household incomes at 81%-120% of the area median income. The sales price for each home is $380,000, and all houses are currently in escrow at this time. That compares to the $616,000 median price (as listed by the Realtors Association of Maui) for a single family home on Maui in July of 2017.
Representatives with the non-profit housing, community development corporation say the Affordability Period on the project is 25 years.
Site work began in September 2014, the first eight houses were completed in December 2017 with immediate occupancy, and the final eight will be completed in February 2018.