Recapping the Eligibility Rules and Guidelines for Kuikahi Village
Aloha, friends, and Mele Kalikimaka!
As December rolls in and we prepare to say aloha to 2023, we thought this might be an excellent time to recap the rules and other eligibility criteria for Kuikahi Village, our 100% workforce housing neighborhood which is currently going through the process for final approvals with the county. As we shared in our last blog, we’re hoping to begin construction sometime next year after approvals, and to hold our housing lottery sometime after that.
Kuikahi Village is slated to feature:
Tiny Homes: 1 bed/1 bath, 370 square feet (28)
Condominiums: 2 bed/2 bath, 841 square feet (75)
Condominiums: 3 bed/2 bath, 1,059 square feet (45)
Duplexes: 3 bed/2 bath, 900 square feet (18)
Townhouses: 3 bed/2 bath, 1,120 square feet (14)
Live/Work units: 4 bed/2 bath, 1,860 square feet (16)
Single-family units: 4 bed/2 bath, 1,400 square feet (6)
So when it comes to successful applicants, what criteria must they meet in order to be considered for Kuikahi Village? Let’s take a look!
Be a legal resident of Maui County
To begin with, all eligible applicants must be a legal citizen or permanent resident alien of the United States – and a resident of Maui County to boot! A resident means someone that has established themselves on the island, by virtue of their status as an employee, student, retiree, spouse, or disabled person. Additionally, all successful applicants must be at least 18 years of age at the time of their application.
Have a gross family income which does not exceed 140% of the County’s area median income (AMI) as established by HUD
Recall from the lottery process from Hale Kaiola in Kihei that AMI, or area median income, is established by the U.S. Department of Housing and Urban Development for every region of the country. Currently, HUD has established Maui County’s AMI to be $95,900 per household (except for Hana).
It’s worth noting that these figures are only reflective of a household’s total income, and not per individual within the household. In other words, if several adults are working in the home, or receiving retirement benefits, then all these income streams are combined for the household’s total gross family income.
As such, eligible applicants for the housing lottery will need to have a total household income that does not exceed 140% of the area AMI – $134,260 – to be considered.
Not possess total assets that exceed 140% of the AMI
Also similar to the last go-round, successful applicants must not be in possession of total household assets – such as savings accounts, stocks, bonds, and other real estate holdings – of more than 140% of Maui’s AMI in order to apply.
Pre-qualify for a mortgage loan with the applicant’s choice of lender
Obtaining pre-qualification, or an estimate for your potential housing loan based on your financial information, is an important step in the process of home ownership. Stay tuned for more information as things move along for opportunities you’ll have to engage with some of Maui Nui’s most helpful organizations in doing so—and be sure to keep checking our website for all the latest as things move along. Mahalo!