Back to 
Back to
December 17, 2025
In mid-October, Hunt Capital Partners (HCP), the tax credit syndication division of Hunt Companies, and Hunt Companies Hawai‘i celebrated the grand opening of $163 million Kaiāulu o Kūku‘ia, the first new permanent multifamily affordable housing development built in Lahaina since the 2023 wildfires.
By the day of the grand opening, all 200 homes in Kaiāulu o Kūku‘ia were already occupied by local Lahaina families, a testament to the need for stable, affordable housing in the area. The event was a celebration of community and collaboration, attended by key leaders who made this project possible.
Special guests at the Kaiāulu o Kūku‘ia grand opening included Lieutenant Governor Sylvia Luke; Maui County Mayor Richard Bissen; Scott Glenn, senior advisor for federal affairs, climate and housing, representing Gov. Josh Green; and Dean Minakami, executive director of the Hawai‘i Housing Finance and Development Corporation.
Representing HCP were Jeff Weiss, president; Amy Dickerson, chief operating officer; Dana Mayo, executive managing director; Naomi See, assistant vice president for investor relations; and Matt Dillis, senior director for development risk management.
Kaiāulu o Kūku‘ia, which was developed by Blieu Companies and the nonprofit Ikaika ‘Ohana, offers two-, three- and four-bedroom rental apartments for families earning up to 60% of the Area Median Income (AMI). Monthly rents begin at $747 for a two-bedroom apartment at 30% AMI; according to Hunt Capital Partners, residents will benefit from an average of 53% in annual rent savings compared to local market-rate rents.
Kaiāulu o Kūku‘ia residents will also enjoy a host of health, education and financial services that will be tailored to those who live there. An on-site Bezos Academy will offer year-round, full-day early education for children ages three to five at no cost to resident families.
The project was financed by $83 million in federal Low-Income Housing Tax Credits (LIHTC) and $41 million in Hawai‘i state LIHTC syndicated by HCP with equity from investors including Bank of Hawai‘i, CVS Health, First Hawaiian Bank, Central Pacific Bank, American Savings Bank, First Insurance Company of Hawai‘i and Hawai‘i Employers Mutual Insurance Company.
Bank of Hawai‘i provided construction funding and is serving as the permanent loan lender with participation from Finance Factors. Hawai‘i Housing Finance Development Corporation is providing supplemental financing through the Rental Housing Revolving Fund.
“Today, we are not just opening a housing development; we are opening doors to stability, dignity and hope,” remarked Weiss at the grand opening event. “This is community development in its truest form — creating housing and lasting, positive impact.”
Kaiāulu o Kūku‘ia is one of HCP’s 25 current projects in Hawai‘i with 12 different developer partners.
Since its inception in 2010, HCP has worked to create 1,889 new or renovated affordable homes in every county across the state, providing housing for approximately 5,976 island residents.
