The Kaiwahine Village affordable rental project in Kihei is finished and residents began moving in last month. Photo courtesy of Moss Construction

The Maui News

The 120-unit Kaiwahine Village affordable rental project in South Maui is completed and began accepting residents in May, its construction company announced earlier this month.

Moss Construction, which made the announcement June 11, built the project with developer Ikaika Ohana, its nonprofit managing general partner, the news release said.

The 70,182-square-foot project is on a 9-acre triangular-shaped property, mauka of the end of Kaiwahine Street and the Hale Piilani Subdivision, the project’s environmental assessment and news release said. The units are two and three bedrooms, ranging from 937 to 1,362 square feet and include energy saving appliances, hard-surface flooring, solar water heating, water-saving plumbing fixtures and ceiling fans.

There also are two on-site employee units with on-site property management, the news release said.

Designed by Design Partners Inc., Kaiwahine Village’s amenities include a community center, laundry facilities, recreation areas, a clubhouse and courtyard, as well as on-site parking for residents and guests.

The units are pegged for families earning up to 30, 40 and 60 percent of the area median income. Rents were proposed to range from $371 to $1,076 per month, according to the environmental assessment.

Hunt Capital Partners provided the equity for the $45.4 million project and Citibank USA funded the construction and permanent financing. The developer utilized Hawaii Housing Finance Development Corp.’s tax-exempt bonds and tax credit program, along with financing made available through county loan and rental trust fund programs.

Originally approved in 2011 by the Maui County Council as an affordable housing development, the project evolved into a 100 percent affordable rental project.