RESIDENTIAL WORKFORCE HOUSING INFORMATION
We are proud to be providing 102 Villas townhome units and 20 Courtyards single family homes in our residential workforce housing (RWH) program. The first release of homes will include Villas townhomes, which range in price from the low $300,000s to the low $500,000s. With Villas living areas extending from 944 to 1,154 square feet, purchasers will have the opportunity to choose from six floor plans.
The RWH lottery took place at the Kahoma Village sales office Friday, January 26, 2018 from 10:30am – 11:30am. Qualified purchaser applicants were entered into three different lotteries, depending on their income category, for the opportunity to purchase a RWH condominium unit (80-100% AMI, 101-120% AMI, 121-140% AMI). Linda Munsell, Assistant Housing Administrator for the County of Maui, attended the event and drew the names of the qualified applicants. Mahalo to all community members who applied and attended to support each other!
INCOME LIMITS & QUALIFICATIONS
There are use, sale, and transfer restrictions, including a 10-year owner occupancy requirement and a shared appreciation program with Maui County upon sale of unit. Your gross annual income will determine the type and pricing of RWH units you will be eligible to purchase. The income limits for each bracket are determined by the County’s area median income (AMI), as established by the U.S. Department of Housing and Urban Development (HUD) for the island of Maui (excluding Hana), as adjusted for household size.
You must be a Qualified resident. “Qualified resident” means a person who:
(1) Is a citizen of the United States or a resident alien;
(2) Is at least eighteen years of age;
(3) Is domiciled in the State and physically resides in the dwelling unit purchased or rented under this chapter;
(4) In the case of the purchase of real property in fee simple or leasehold, has a gross income sufficient to qualify for the loan to finance the purchase; or in the case of a rental, demonstrates an ability to pay rent as determined by the corporation and meets any additional criteria established by the corporation for the respective rental housing development for which the applicant is applying; and
(5) Meets the following qualifications:
(A) Is a person who either by the person’s self, or together with spouse or household member, does not own a majority interest in fee simple or leasehold lands suitable for dwelling purposes or a majority interest in lands under any trust agreement or other fiduciary arrangement in which another person holds the legal title to the land; and
(B) Is a person whose spouse or household member does not own a majority interest in fee simple or leasehold lands suitable for dwelling purposes or more than a majority interest in lands under any trust agreement or other fiduciary arrangement in which another person holds the legal title to the land, except when husband and wife are living apart under a decree of separation from bed and board issued by the family court pursuant to section 580-71;
Provided that for purchasers of market-priced units in an economically integrated housing project, the term “qualified resident” means a person who is a citizen of the United States or a resident alien; is domiciled in the State and shall physically reside in the dwelling unit purchased; is at least eighteen years of age; and meets other qualifications as determined by the developer.