One, two, and three bedroom affordable condominium townhomes will be offered with estimated average prices of:

• One Bedroom - High $300s (FS)
• Two Bedroom - Low $500s (FS)
• Three Bedroom - High $500s (FS)

Estimated Maintenance Fees

• One Bedroom - $223.19 per month
• Two Bedroom - $377.63 to $379.47 per month
• Three Bedroom - $494.50 per month

1. Allows eligible and qualified applicants to purchase at below market prices.
2. Homebuyers have an opportunity to live in Central O’ahu at a brand-new development that fits their budget.
3. Affordable housing principles focus on connecting people to places and help build strong communities in walkable, accessible neighborhoods.

Malina at Koa Ridge affordable homes are for buyers earning 120% and below of Median Income based on the income guidelines published by the City & County of Honolulu.

The Malina Affordable Housing Eligibility Requirements Video covers this information in more detail. View Video

The City will determine eligibility based on the information you provide in your Application Packet, including the following:

1. Must be a citizen of the United States or a resident alien.
2. Must be at least 18 years of age.
3. Must be domiciled in the State of Hawaii and have a bona-fide intent to reside in the affordable housing unit.
4. Must have sufficient gross income to qualify for the loan to finance the purchase.
5. Total household income shall not exceed the allowed annual household income.
6. Do not own, and have not owned, for the one year preceding the date of application to escrow closing, a majority interest in fee simple or leasehold lands for dwelling purposes.

The Malina Affordable Housing Eligibility Requirements Video covers this information in more detail. View Video

Here are the potential steps involved in the Malina at Koa Ridge affordable homebuying process:

1. Prequalification by a Preferred Project Lender.
2. Fill out the Application Packet and provide the supporting documents to the Preferred Project Lender.
3. View an optional educational video.
4. Date to return the completed packet to a CCHH Sales Representative at the Koa Ridge Sales Office is coming soon.
5. Information forthcoming on lottery, unit selection and other events.

The buyer will need to provide $1,000 at the Unit Selection.

Buyers at Malina have no requirement to share the future appreciation (SAE) of their home, if any, with the City.

The duration of the transfer restriction (buyback) period ensures the home remains affordable for a minimum of 10 years. If the purchaser wishes to transfer title to the Real Property, the City Department of Budget and Fiscal Services (BFS) shall have the option to 1). Either purchase the real property, or 2). Require the purchaser to sell the real property to a “qualified resident”, at the price and upon terms that preserve the intent and who is in the same income category as the original purchaser at the time of the original sale, approved by BFS.
The restrictions on transfer, use and sale of the affordable housing units shall be in effect for ten years for qualified buyers.

The Malina Affordable Housing Eligibility Requirements Video covers this information in more detail. View Video

The City will require documentation to support the buyer’s application. Some examples are: current year tax returns, W-2, 2 months of paystubs, and a letter of pre-qualification from a Lender. Lenders will have different requirements to determine loan pre-qualifications.

No, for the purposes of maximizing the number of persons to be benefited, the Program matches household size with the affordable housing type.

The Malina Affordable Housing Eligibility Requirements Video covers this information in more detail. View Video

The following fees shall be assessed by the City in accordance with Ordinance 20-18, as the same may be amended from time to time.

• A $75 applicant eligibility certification fee shall be assessed to review an affordable housing application.
• A $50 annual monitoring fee shall be assessed on an affordable housing unit.
• A $600 fee shall be assessed to process a request by the homeowner to sell the unit.
• A $600 fee shall be assessed upon a transfer of title by the original purchaser or subsequent owner. The homeowner shall also inform the Department of Budget and Fiscal Services whenever there is a title change.