Habitat for Humanity Maui has begun building a 16-unit condominium project on Kahawai Street in Happy Valley. When complete, units will be available for purchase with a zero-percent-interest mortgage.
"With the start of the Kahawai project, we will be providing an opportunity for homeownership for many who thought they could only dream of owning their own home," said Sherri K. Dodson, Habitat for Humanity Maui executive director. "This project will be a great opportunity for kupuna, the disabled, veterans and young families just starting out."
Habitat is now accepting applications for homeownership in this project. The criteria for homeownership are demonstration of need, ability to repay the zero-percent-interest loan and a willingness to partner with Habitat for Humanity Maui.
Habitat for Humanity Maui is now accepting applications for homeownership in the condominium project on Kahawai Street in Happy Valley.
Families must show need by falling within 25 to 80 percent of the median income for the County of Maui. In addition, they must either be homeless, or living in substandard housing, including overcrowded conditions and/or high rent.
The ability to repay the zero-percent mortgage will be determined by adequate income and low debt. Habitat is willing to work with families to help reduce debt and increase income.
Lastly, the willingness to partner is reflected by a minimum of 500 hours of sweat equity required as well as attendance in homeowner education classes, and budgeting and debt management classes.
One- and two-bedroom units are available. Each unit will include a stackable washer and dryer, refrigerator and range. The units have small balconies with views of 'Iao Valley and the ocean.
"With a zero-percent-interest mortgage and volunteers helping build the project, we anticipate that the average mortgage payment will be $1,000 to $1,500 a month," said Dodson.
A condominium association will manage the property with all units dedicated to homeownership. The project will have deed restrictions, but will also allow families to slowly gain equity in their home.
Habitat welcomes individuals and businesses to partner with them by volunteering or making a donation to help end homelessness and substandard housing.
For more information, or to donate or volunteer, visit www.habitat-maui.org or call 242-1140.