New affordable housing project slated for Waikoloa Village
A groundbreaking ceremony was held Tuesday for Na Hale Makoa, a new affordable workforce rental housing development in Waikoloa Village.
Na Hale Makoa will feature 139 one-, two- and three-bedroom units serving households earning up to 140% of area median income, as well as one resident manager’s unit.
Construction is expected to take a little over a year, and families are anticipated to begin moving into the units during the first quarter of 2026, according to the county.
Applications will be accepted starting around September 2025.
“Today marks a pivotal step forward in our commitment to addressing the affordable housing needs of our community.,” said Mayor Mitch Roth. “Na Hale Makoa represents more than just new buildings. It symbolizes our dedication to ensuring that working families have access to safe, affordable and high-quality housing,”
The nonprofit Pacific Housing Assistance Corp. was selected by the county’s Office of Housing and Community Development following a request for proposals in 2020 to develop the rental housing within the county’s existing Kamakoa Nui subdivision on the northern end of Waikoloa Village.
“We have been diligently working with our development team and our state, county and private financing partners on the Na Hale Makoa project since 2020,” said Audrey Awaya, executive director of Pacific Housing Assistance Corp. “We appreciate their support and look forward to starting construction on this much-needed workforce housing development to help our working families in West Hawaii.”
The county is leasing the approximately 10-acre site for 68 years to Kamakoa Nui Limited Partnership, the ownership entity.
Furnishings include in-unit washer/dryer, range, refrigerator, vinyl plank flooring, window coverings and ceiling fans. Each unit also features a private lanai and storage closet.
The pet-friendly community also includes a recreation center with a kitchen for meetings/gatherings, a resource and technology center with high-speed internet access, a management office, and a keiki playground. Picnic areas and walking/biking paths are provided throughout Na Hale Makoa.
Funding for the $84.5 million project comes from various state and county programs. National Equity Fund, one of the largest nonprofit tax credit syndicators, is the project owner’s limited partner, contributing $36.9 million in financing. First Hawaiian Bank is the project’s construction and permanent lender.
Previous development on county-owned land within the Kamakoa Nui subdivision includes 185 homes and a 12-acre park. Future development proposes hundreds more affordable rental and for-sale units, a library, and a public school for the Waikoloa Village community.
The Office of Housing and Community Development anticipates it will seek bids by the end of 2024 to construct a loop road and related infrastructure that will open vacant land within Kamakoa Nui for future development. Funding for this infrastructure project is provided in part by the Affordable Housing Production Program established in 2022 to increase the availability and accessibility of affordable housing on Hawaii Island.
“As we move forward with the Kamakoa Nui project, this next phase will not only expand housing options but also enhance community resources,” said county Housing Administrator Susan Kunz. “By investing in essential infrastructure, we’re laying the groundwork for a vibrant and sustainable future where every resident has access to an affordable home where they can forge a path to a better future.”
For more information about Na Hale Makoa, please visit www.pacific-housing.org/na-hale-makoa.
