$168 Million Naulu Tower Affordable Rental Project Wins CoStar Impact Award

July 28, 2026

Naulu Tower was recently honored with a CoStar Impact Award as Hawai'i's Multifamily Development of the Year.

Hunt Companies Hawai'i and Hunt Capital Partners served as limited partners on the $168 million affordable high-rise home to 202 low-income local families. Hunt Capital Partners (HCP) is Hunt's tax-credit syndication division.

Naulu Tower is one of HCP's 25 current projects in Hawai'i with 12 different developer partners. Since its inception in 2010, HCP has helped to create 1,889 new or renovated affordable homes in every county across the state, providing housing for approximately 5,375 island residents.

The project reflects an extensive public-private partnership among the State of Hawai'i, the City and County of Honolulu, and the project team. General partners include Pacific Development Group, Mark Development Inc., Hawaiian Community Development Board and Hawai'i Assisted Housing Inc. Financing was provided by Hawai'i Housing Finance & Development Corp., the City and County of Honolulu and Bank of Hawai'i, with federal Low-Income Housing Tax Credits syndicated by HCP through a proprietary fund with JPMorgan Chase.

This CoStar Impact Award is Hunt's second in three years. The Walter Dods Jr. RISE Center at the University of Hawai'i at Manoa was named the 2024 Redevelopment of the Year.