First-Time Homebuyer Programs
Lokahi Pacific is dedicated to addressing the needs of affordable housing throughout the County of Maui. As such, interested Maui County residents are invited to submit an application for its First Time Homebuyer Programs. Lokahi Pacific is offering the following programs:
AFFORDABLE HOUSING PROGRAM: To address the need of affordable housing in the County of Maui, Lokahi Pacific may offer homebuyer opportunities to applicants who meet the established eligibility criteria in purchasing a Lokahi home.
- Applicant(s) shall produce a pre-qualification letter (amount determined by project cost) by contacting project approved lenders.
- Applicant(s) shall obtain a first mortgage subject to the terms stipulated by the first mortgage lender to purchase a Lokahi home.
- Applicant(s) shall either be a First Time Homebuyer or shall not own more than 51% interest of real property.
- Owner-Occupancy Requirement: The Owner(s) must physically reside in the residential property to be purchased. The affordability period shall be perpetual. Lokahi will strictly enforce this and any violation will be cause for termination and eviction.
- Homebuyers assisted under this program must secure Lokahi Pacific's written approval prior to seeking refinancing.
- Lokahi retains the right to inspect the property at least yearly to determine that Owner(s) is/are in compliance with the terms and conditions of project, its specific covenants and restrictions, and whether any housing code violations exist to assure that all units are maintained in a safe, decent and sanitary condition per Maui County property standards.
- Lokahi encourages all First Time Homebuyers to make improvements to the property, which will increase the value of the property. All such improvements must be approved in writing prior to commencement of work.
For more information or for project specific details, please contact the Affordable Housing Program at 242-5761.
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