Etan Krupnick along with his child Lavi celebrate the grand opening of the 200-unit Kaiāulu o Kūku’ia affordable housing project on Thursday. The Maui News/Gary Kubota

Holding his 4-year-old child Lavi, Maui electrician Etan Krupnick, whose family home burned in the 2023 Lahaina wildfire, recalled his wait in temporary federal subsidized housing before finally finding an affordable three-bedroom rental at the new Kaiāulu o Kūku’ia.

“I’m super lucky to be here,” said Krupnick, who has a wife and three children. “It’s so beautiful.”

The 200-unit federally supported project is being operated by the state. Kaiāulu o Kūku’ia is located off the Keawe Street Extension mauka of Safeway in Lahaina and celebrated its grand opening celebration Thursday.

Except for three managerial units, the project offers rent-restricted homes for 197 families who earn between 30% to 60% of Area Median Income, enabling residents to save an average of 53% annually in their rent payments compared to market-rate options. With that, a large family could pay about $1,400 a month for a three-bedroom, two-bath unit.

A new 200-unit affordable housing project mauka of Safeway in Lahaina received praise from tenants during a grand opening celebration on Thursday. Photo courtesy Ikaika ‘Ohana

Kaiāulu o Kūku’ia is built on land leased from the state with sweeping, terraced views of the ocean and shoreline, and also a free preschool for children ages 3-5. Other amenities include a “great hall” for gatherings and a teen room with pingpong, foosball and hand shuffleboard tables.

“This is our statement that we want you here. This is for working families,” said Douglas Bigley, president of the family-owned Blieu Companies and the nonprofit Ikaika ‘Ohana.

Development project president Douglas Bigley stands in the “great hall” meeting center in the affordable housing complex at Kaiāulu o Kūku’ia. The Maui News/Gary Kubota

But building it did not come easy.

Bigley’s affordable 89-unit housing project Kupuohi was destroyed in the Lahaina wildfire and had to be rebuilt as well with developing a community in mind, including the teen room.

“You get teens active, instead of passive,” he said.

The community also features an on-site Bezos Academy preschool that will offer year-round, full-day Montessori-inspired programming at no cost to the families served.

The Academy, funded through Jeff Bezos, has 32 schools in several states, with the latest one being developed in Lahaina and set to open in fall 2026.

The project used $83 million in federal low-income housing tax credits and $41 million in Hawaii state tax credits syndicated by Hunt Capital Partners with equity from several investors, including Bank of Hawaii, CVS Health, First Hawaiian Bank, Central Pacific Bank and American Savings Bank.

“Access to safe, affordable housing is foundational to better health outcomes. Our investment in Kaiāulu o Kūku’ia reflects our commitment to supporting resilient communities and helping families rebuild with dignity and stability,” said Keli Savage, head of Impact Investment Strategy at CVS Health. “We’re proud to stand alongside our collaborators in bringing lasting, meaningful change to the community of Lahaina.”

Other financing sources included an $84 million construction loan and a $21 million permanent loan from Bank of Hawaii, with participation in the construction loan from Central Pacific Bank and Finance Factors, as well as a $37 million soft loan from the Hawai’i Housing Finance Development Corporation through its Rental Housing Revolving Fund.

“Bank of Hawaii is honored to support the Kaiāulu o Kūku’ia project and the families beginning a new chapter at this development,” said Christopher Abbott, senior vice president and senior affordable housing manager at Bank of Hawai’i. “Affordable housing is a cornerstone of recovery for Lahaina.”

Blieu Companies and Ikaika ‘Ohana jointly led as developer and managing general partner.

Construction was executed by Maryl Group Construction, Inc. for vertical development and Goodfellow Bros, Inc. for site work. Design Partners Incorporated served as the architect of record and ThirtyOne50 Management, LLC is the property management agent.

Design Partners Incorporated served as the architect of record and ThirtyOne50 Management, LLC is the property management agent.

Krupnick said he worked as an electrician at the project, helping to raise the lighting poles, and saw the care and quality of work done by the trades people.

“The heroes were all the tradesmen and women. They did such a great job,” he said.