DHHL buys Moiliili property from Kamehameha Schools for $7.8M
HONOLULU, Hawaii (HawaiiNewsNow) - The Department of Hawaiian Homelands is buying an acre of real estate in Moiliili from Kamehameha Schools.
It’s a purchase they’re hoping will ease the housing pinch for Native Hawaiians on a lengthy wait list for housing.
The property is located between Isenberg and Coolidge Streets. It was sold for $7.8 million. The purchase was approved by the Hawaiian Homes Commission (HHC) this week.
On the lot, there are apartment units currently standing. DHHL plans to rehabilitate the buildings and use them as affordable rentals for applicants on the backlogged waiting list.
In the long term, the department has plans to build a high-rise on the land.
“The greatest demand on the DHHL wait list is for O`ahu with over 9,000 residential applications,” HHC Chairman William Aila Jr. said. “Oahu is also where we have the least amount of available land, roughly three percent of the Department’s total land inventory. Securing additional lands on Oahu suitable for residential development will help to serve our beneficiaries.”
The department added that they’re using a $6.9 million appropriation from the Hawaii State Legislature and $1.75 million of trust funds to pay for the land and complete improvements to existing buildings.
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