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Developers update board on Hale Moana expansion, cite LIHTC financing and long waiting lists
Summary
Developers said Hale Moana’s first two affordable towers are fully leased with over 1,200 names on waiting lists; phases 3–4 would add family units restricted to 30–60% AMI, community amenities and on-site parking, financed through low-income housing tax credits and tax-exempt bonds.
Representatives from High Ridge Costa and Form Partners presented plans for two additional phases at the Hale Moana mixed-use affordable-housing site in Kapolei. Developers said the first two completed towers (Kupuna Tower, 153 units; Ohana Tower, 143 units) are 100% occupied and that demand remains high: "we have over 1,200 names on the waiting list currently," the project team said.
They described phase 3 and 4 massing (13–14 stories), additional community amenities (pool, dog park, fitness center, commercial-to-community-space conversions) and on-site parking. Financing hinges on Low-Income Housing Tax Credit allocations, tax-exempt bonds and state revolving funds; developers said those programs are oversubscribed and awards are competitive. The team projected entitlement and financing work through late 2024 and 2025, with construction contingent on financing and permitting timelines.
