Budget committee advances ground lease and $30.38 million in bonds for Ewa Beach affordable-rental project

The Honolulu City Council Budget Committee on the morning of the special meeting advanced two measures to support a planned affordable rental project in Ewa Beach: a ground lease with Komohale Westlock Venture LP and an authorization to issue up to $30,376,937 in multifamily housing revenue bonds.

The measures, introduced as Resolution 25‑74 (ground lease) and Resolution 25‑73 (bond authorization), were each amended to the posted CD1 and reported out for adoption after no committee members registered objections. Committee chair DeSantis Tam called for objections before ordering each amendment and the report out; none were voiced, and the chair directed the items forward.

Why it matters: The two actions together clear key local approvals the developer and city officials said are necessary for the project to obtain financing and begin construction. The city’s multifamily housing revenue bond program allows below‑market financing when projects meet affordability rules; project documents presented to the committee show the proposal would reserve most units at income levels targeted by that program.

Committee members and project representatives described the planned development as a mixed‑unit affordable rental community intended for low‑income households. The…