Kamehameha Schools Chief Executive Officer Jack Wong and Hawaiian Homes Commission Chairman William J. Ailā, Jr. made official the purchase of approximately an acre of real estate in Mōʻiliʻili from KS to HHC on Tuesday.
The Hawaiian Homes Commission (HHC) approved the purchase of approximately an acre of real estate in Mōʻiliʻili from Kamehameha Schools on Tuesday. There are currently two vacant apartment buildings with 31 units on the three parcels between Isenberg and Coolidge Streets.
The Department of Hawaiian Home Lands (DHHL) intends to rehabilitate those buildings immediately and deploy them as affordable rentals to applicants on the wait list.
“The greatest demand on the DHHL wait list is for O‘ahu with over 9,000 residential applications,” said William J. Ailā, Jr., HHC Chairman. “O‘ahu is also where we have the least amount of available land, roughly 3% of the Department’s total land inventory. Securing additional lands on O‘ahu suitable for residential development will help to serve our beneficiaries.”
DHHL plans to develop a high rise on the property in the future. Kamehameha Schools and the DHHL agreed upon a $7.8 million sale price, which is the most recent Tax Assessed Valuation.
“Kamehameha Schools’ ability to make these lands available for sale to the Department of Hawaiian Home Lands provides a vital housing option to those Native Hawaiian families we serve,” said Kamehameha Schools Chief Executive Officer Jack Wong. “Our organizations want to see every Hawaiian lead a healthy, successful life and this project represents that possibility for generations to come.”
DHHL is currently completing offers to applicants on its wait list for 395 lots and has over 1,300 lots in the production pipeline to be completed over the next five years.
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