The final phase of the Hale O Pi‘ikea affordable housing development is officially underway in Kīhei, Maui, marking a significant step forward in addressing the island’s housing crisis. Developed in collaboration with Hunt Capital Partners, ‘Ikenākea Development, Hawaiian Community Development Board, and Mark Development, Hale O Pi‘ikea Phase III will introduce 35 new affordable rental units and one manager’s unit, adding to the 187 units already in progress. Upon completion, the community will offer 223 affordable homes for families and seniors with incomes ranging from 30% to 60% of the Area Median Income (AMI).
Maui County continues to face a severe housing shortage, with a 7,000-unit shortfall in West Maui alone as of 2023. The situation was further exacerbated by the Lahaina wildfires, which destroyed approximately 700 affordable units. Hale O Pi‘ikea Phase III is a much-needed initiative that will provide rent-restricted housing, allowing families to save up to 75% compared to market rates.
“Hunt Capital Partners is proud to collaborate once again with 3 Leaf Holdings, Hawaiian Community Development Board, and Mark Development to bring much-needed affordable housing to residents in Maui,” said John Lee, Managing Director of Hunt Capital Partners Funds Management. “By reducing housing costs, families can allocate resources toward other essential needs like healthcare, education, and nutrition.”
Situated on a 1.93-acre parcel, Hale O Pi‘ikea Phase III will feature four two-story garden-style residential buildings, designed with energy-efficient appliances, storm-resistant materials, and solar power systems. Residents will enjoy shared community spaces including a clubhouse, picnic areas, and a playground.
Beyond housing, the development will offer free, on-site programs in financial literacy, homeownership education, and parenting support. Additionally, one unit will be reserved for a household experiencing homelessness, with specialized case management provided by Mālama Nā Makua A Keiki, a respected local service organization.
“We are extremely pleased to be working with Hunt Capital Partners on the 3rd Phase of our Hale O Pi‘ikea Affordable Housing community,” said Chris Flaherty, Principal at ‘Ikenākea Development. “Their expertise in securing the right investors and understanding the unique needs of Hawai‘i make them a valuable strategic partner.”
Hale O Pi‘ikea Phase III is backed by a mix of federal, state, and county funding, including:
As the demand for affordable housing continues to grow, projects like Hale O Pi‘ikea are essential in providing sustainable, community-oriented solutions. With strong partnerships and strategic financing, this development will help ensure that local families and seniors have access to safe, affordable homes for years to come.
For more updates on Maui real estate and affordable housing developments, visit MauiProperty.com or contact us today!