What is Reserved Housing?
On Oahu, the Kaka`ako district in urban Honolulu is fast becoming an attractive and vibrant residential community that represents a unique housing opportunity for Hawaii residents trying to relocate closer to the Honolulu business district and Waikiki while substantially reducing their daily commute time to work.
Reserved housing is designed to provide affordable housing in the Kaka’ako area for buyers earning less than 140 percent of Honolulu area median income (AMI) as established from time to time by the United States Department of Housing and Urban Development (HUD).
New for 2018, at 140% AMI, income limits start at $94,100 for a 1 person household up to $134,400 for a 4 person household. All buyers will need to go through a qualifying process to ensure they meet the HCDA reserve housing requirements as well as lender requirements.
1- person 2- person 3- person 4- person 5- person 6- person 7- person 8- person
Low Income 80% 65,350 74,650 84,000 93,300 100,800 108,250 115,700 123,200
Area Median Income 100% 67,200 76,800 86,400 96,000 103,700 111,350 119,050 126,700
110% 73,900 84,500 95,050 105,600 114,050 122,500 130,950 139,400
120% 80,650 92,150 103,700 115,200 124,400 133,650 142,850 152,050
130% 87,350 99,850 112,300 124,800 134,800 144,750 154,750 164,750
140% 94,100 107,500 120,950 134,400 145,150 155,900 166,650 177,400
Type Studio One Bedroom Two Bedroom Three Bedroom Four Bedroom Five Bedroom
Adjustment 70% 80% Base 108% 116% 124%
*For each person in excess of eight, the four‐person income limit should be multiplied by an additional 8 percent. (For example, the nine‐person limit equals 140 percent [132 + 8] of the relevant four‐person income limit.) *Income limits are rounded to the nearest $50.
*HUD base figures (underlined) were interpolated by HCDA. This chart is provided as a guide only.
The Hawaii Community Development Authority (HCDA) is a State agency that was established to supplement traditional community renewal methods by promoting and coordinating public and private sector community development.
What are the benefits?
* Provides first-time home buyers with an opportunity to live in Kaka'ako, the most vibrant, fastest
growing area on Oahu.
* Allows eligible and qualified applicants to purchase at below market prices.
Gifts & Co-signing Allowed
* Gifting and co-signing provide home buyer assistance and the opportunity for homeownership.
Supporting Local Residents
* Reserved housing provides an opportunity for local residents to live in a brand new development that they might not otherwise be able to afford.
What are the qualifications?
* At least 18 years of age, and a U. S. Citizen or permanent resident;
* May not have a majority interest in a principal residence or a beneficial interest in a land trust on a principal residence within or without the State for a period of 3 years immediately prior to the date of application for a
reserved housing unit;
* May not have a spouse or dependent child who has a majority interest, in a principal residence or a beneficial
interest in a land trust on a principal residence within or without the State for a period of 3 years immediately prior to the date of application for a reserved housing unit;
* May not be the owner or lessee and occupant of a reserved housing unit;
* May not have a record or history of conduct or behavior, including past rent payments, which may prove
detrimental to other tenants or the authority. This criterion shall be applied within parameters set by federal laws in discrimination including the Americans with Disabilities Act;
* Be able to provide income & asset verification.
* Regulated term, buy back, & shared equity requirements apply.
The HCDA website has copies of all current rules and can be found at http://dbedt.hawaii.gov/hcda/plans-rules/
To get registered for "Reseved Housing" opportunities or for more info click HERE
We Are Unique
Our vast project sales experience has shown that many Buyers walk into a project without an Agent to represent them and end working directly with the project sales team, who in reality represent the seller (developer). We see Buyers at the lottery who are confused and under pressure trying to make one of their largest financial decisions without a Buyer's Agent to consult with and assist them.
Our InKakaako sales team works on your behalf as your Buyer's Agent, and we never charge a fee or commission. We are compensated by the developer. So it doesn't cost you anything to have us work for you in your best interest from start to finish, and from application to closing.
* We will coordinate and schedule a personalized showroom tour of the desired project or projects.
* Assist with the application pickup process.
* Assist with lender recommendations in obtaing pre-qualification letters whether utilizing financing or purchasing in cash. All developers have a specific list of approved lenders for their project. We can arrange for an experienced l
lender from their list of approved lenders for the language of your choice.
* Assist with the application submittal process to meet all deadlines.
* Offer suggestions for determining the best unit selections and backup choices.
* Implement strategies that may increase your chances of greater success during selection day.
* Accompany you to the lottery or public drawing and unit selection.
* Assist with contract signing.
* Assist with project Amendments.
* Coordinate and accompany you to final walk through and contract signing at completion of project.
* Hand you your keys and Congratulate you for persevering through this entire process and becoming a new