Habitat for Humanity’s mission and Hawaii County’s workforce development housing in Waikoloa are a perfect fit, Habitat Executive Director Patrick Hurney says.
Habitat for Humanity’s mission and Hawaii County’s workforce development housing in Waikoloa are a perfect fit, Habitat Executive Director Patrick Hurney says.
The nonprofit organization will help six families build homes in the Kamakoa Nui development, thanks for federal grants and the group’s own savings account, which allowed it to purchase the lots and begin financing the home construction. Families who qualify to purchase through Habitat must include working adults who are employed within 45 miles of Waikoloa and make an annual income between about $25,000 and $65,000.
The program benefits “hardworking, stable families” who may not be in a position to qualify for a traditional mortgage or make a large down payment for a house that costs $300,000 or more, Hurney said. “This is a great opportunity for them.”
About 25 families attended an informational meeting Saturday about the six available lots, Hurney said. Another meeting is scheduled for 10 a.m. Saturday at Habitat’s Kailua-Kona office, in the Kaloko Industrial Area, next to the Habitat for Humanity Restore.
For the six families who are selected, Hurney said the monthly mortgage payments on the 30-year, no interest mortgages, will be less than $500 a month.
Applicants have until Sept. 13 to apply for the lots. Hurney said he and other Habitat officials are already looking for funding to purchase more lots at Kamakoa Nui.
Hurney said he’s hoping to have the families selected by the end of this year, with vertical construction starting in January. He would like to see families in the homes by June 2014.
County officials “were very excited to work with us,” Hurney said. “It’s been a relatively smooth process.”
Housing Administrator Steve Arnett said he sees Habitat as a good match for what the county is trying to accomplish with the workforce housing.
“We believe Habitat has a great mission and does great work,” Arnett said.
The county requires electrical and plumbing work be done by licensed professionals, but with Habitat’s sweat equity — which requires home recipients to participate in the building process — home owners end up with a house for significantly less than market value, Arnett said.
The county has eight homes sold so far at Kamakoa Nui. Four model homes have already been completed and two new homes are in the process of being built. Arnett’s goal is to get families in those first eight homes by the end of this year.
“We would like to build more homes,” he said, adding the county doesn’t build the houses until the homes have been sold. “Real estate is cyclical and it’s hot right now,” which makes it a good time to attract buyers for the workforce homes.