Maui Real Estate Blog
Maui County Real Estate News
The Maui county council was busy last week discussing new developments and first time home buyers. On Friday, the council gave initial approval for a first time home buyers assistance fund. The fund would provide 15-year no-interest loans of up to $15,000 to Maui County residents making less than 140 percent of the median income for their community. The money could be used for downpayments or closing costs. The bill targets valuable members of the community such as police, teachers and nurses who make too much money to be eligible for low income housing, but find themselves coming up short with the high priced housing market. The first reading of the bill passed unanimously. Final vote is scheduled for April 21st.
For more information, check out this article in the Maui News.
Pulelehua, the proposed Maui Land and Pine subdivision for West Maui, was also under review last week. The Maui Land Use Commission completed the “expert testimony”phase of the project review. The project is planned to have over 823 housing units with 450 within the affordable range and another hundred under market value. First priority for the housing would go to Maui Land and Pine employees, followed by ML&P affiliates, public servants and residents who work in West Maui but have to commute. Any remaining units would be open to the general public.
Issues discussed in the meeting ranged from the allocation of the affordable units, funding and construction dates for associated schools, ground water and the site’s proximity to the West Maui airport as a public safety issue. The completion of expert testimony is just one step towards approval of the project. We will continue to monitor the project as it goes through county approval. For a more in depth review of the meeting, check out this article in the Maui News.