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HCDA staff flag end of LIHTC restrictions as Honuakaha Limited Partnership nears dissolution

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Summary

HCDA staff told the board that the Honuakaha Limited Partnership (HCDA as general partner, First Hawaiian Bank as limited partner) will dissolve when the Low‑Income Housing Tax Credit term ends; unless the authority pursues other mechanisms, affordability restrictions tied to LIHTC would lapse and staff will return with options after reconciled financials are available.

Honuakaha Limited Partnership — the venture formed between the Hawaiʻi Community Development Authority (as general partner) and First Hawaiian Bank (as limited partner) — is scheduled to dissolve when the Low‑Income Housing Tax Credit (LIHTC) compliance term expires,…

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