Updated Hale Kaiola Timeline and Lottery Announcement
Aloha friends,
2021 has rapidly come to a close, and we’ve got some very exciting announcements to share around the progress of our newest, eco-friendly neighborhood in North Kihei as we look to 2022.
As you know, Alaula is committed to providing high-quality, 100% affordable housing for the well-being of both our island kama’aina and for the ‘aina itself. As such, we’re extremely excited to officially announce the updated timeline for the launch of Hale Kaiola, our newest neighborhood of 40 duplexes located in the North Kihei region!
The permitting process is now nearly complete, which brings us one major step closer to construction to begin in early 2022. Needless to say, the process of creating affordable housing is lengthy, and we are very grateful for the assistance and support of many across the Valley Isle and throughout Maui County for their patience and assistance.
“We are elated to finally hit the stage where families can start picking their home. As a home builder of 100% affordable housing, the lottery and home selection day is only trumped by the day you get to hand over keys to new homeowners. We are glad to finally have March 4th targeted on the calendar,” said Alaula Builders’ VP of Development, Lawrence Carnicelli
So, without further ado, here is our updated timeline of events for the Hale Kaiola neighborhood:
Permitting: December 2021
Accepting applications: Now!
Groundbreaking: End of January 2022
Application deadline: February 28th, 2022 @ 5 PM HST
Lottery and Home Selection: March 4th, 2022
Contract Signings and Deposits: 2-4 weeks after lottery
Escrow Closing and Move-Ins Begin: Fall to Winter of 2022
And there you have it! All applications must be completed no later than February 28th at 5 PM to be entered into the housing lottery, which has been set for February 2nd (and more details will be announced shortly). All applicants must be a resident of Maui County in order to be eligible—check out our previous blog for a brush-up on all the criteria.
Now’s the time to get all your ducks in a row and secure your spot! If you haven’t already contacted our friends at Hawaiian Community Assets about taking their class and exploring all their financial resources for first-time homebuyers, there’s no time like the present—click here to get started. All successful applicants for Hale Kaiola are required to complete a first-time homebuyer’s course, as well as securing a prequalification lender from either our partners or your own lender of choice.
PS: Speaking of… did you know that down payments on all Hale Kaiola units are only 1% of their total worth? The average down payment for a house is nominally at least 3-6% of its total value, and often much more!
Keep your eyes peeled for some very important announcements around the application process that will be forthcoming in the near future as we draw closer to the application deadline, and also check out our new list of frequently asked questions located here. Aloha nui and mahalo!