ApprovalAgenda Onlyagenda-only · not confirmed spend
F. Approve: (1) the Hawaii Housing Finance and Development Corporation’s
not disclosed
dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗← All Hawaii government agencies
State authority · Hawaii
Hawaii Housing Finance and Development Corporation (HHFDC)
via customMeetings: dbedt.hawaii.gov/hhfdc/meetings/ ↗
Approval items
80
Votes, budgets, contracts, grants, bonds
Stated approval dollars
$79,608,691.15
9 items report an amount
Source records
100%
Real public records · every row links to its source
Recent approvals
ApprovalAgenda Onlyagenda-only · not confirmed spend
A. Approve: (1) Resolution No. 223, Which Provides for Official Intent with Respect
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dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
followed by a declining payment scale. Executive Director Minakami stated that the
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
;' At the request of EAH, Inc., this action item was withdrawn from the February 12, DISCUSSION
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
! that insufficient on-site parking has historically hindered lease-up rates in other low- ;
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
3 Director Chun moved, seconded by Vice Chair Reimann, to approve staff's DISCUSSION
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
E. Approve a Marketing Plan and Budget for the Hale Kamaaina Mortgage Program
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dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
to decline. Subsequent issuances will have different rates based on the bond market at
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
D. Approve a Request to Amend the Project Target Population for the Aloha Ia
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dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
to the 2026 Memorandum of Agreement (MOA). Corporation's
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
the federal bond volume cap and ensuring project compliance with federal guidelines.
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Director Colby asked what the overall budget for the program is. Guthrie stated that
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
' necessity of Resolution No. 223 to establish official intent for the issuance of Hula Official Intent with
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
qualify for competitive interest rates. Additionally, the standard 20% down payment
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
construction projects, where the average request is approximately $250,000 per unit
ApprovalAgenda Onlyagenda-only · not confirmed spend
C. Approve an After-The-Fact Extension to the Hula Mae Multi-Family Bond
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dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Revolving Fund (DURF) budget to be paid to the City over a 10-year period pursuant Development
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
provide insight into the design and construction of future employee housing, MAKING
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
by Director Chun, to approve staffs recommendation. DISCUSSION
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
mortgage rate is dictated by the bond price at the time of sale. Once a rate is set for a
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
; Director Mackler stated that the construction site is tight and asked how the planning
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Director Chun moved, seconded by Vice Chair Reimann, to approve staffs IH.F.
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
1 a budgeted extension for a potentially slower lease-up period. ;
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
;i will be staged. Mr. Jason Them, with Unlimited Construction Services, Inc. stated that
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Jason Thon, Unlimited Construction Services, Inc.
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
;i permits, which has since been obtained, and appointment of Bond counsel resulted in the Kuakini
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
2 Designee Evans moved, seconded by Director Chun, to approve staffs IH.G.
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
if the transfer goes through. Chu responded in the affirmative, stating that some Budget of
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
I that the initial award of $43.5 million was adjusted to $40 million following Approve a Rental
ApprovalAgenda Onlyagenda-only · not confirmed spend
Discussion ensued on the $64 million tax-exempt bond allocation for the project.
ApprovalAgenda Onlyagenda-only · not confirmed spend
I construction costs specifically escalating from $69 million to $76 million. Maeva
ApprovalAgenda Onlyagenda-only · not confirmed spend
;| the program has a total authorization of $160 million, with an initial bond issuance of
ApprovalAgenda Onlyagenda-only · not confirmed spend
ll noted that avoiding traditional parking construction saves approximately $35,000-
ApprovalAgenda Onlyagenda-only · not confirmed spend
Director Chun moved, seconded by Vice Chair Carol Reimann, to approve the meeting
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Fund Budget of $60,000,000 to Effectuate the Terms of the Transfer
$60,000,000.00
dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
^| construction costs that cannot be supported by rental income alone.
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
confirmed that they are personally signing for the construction loan and providing a
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
] Multi-Family (HMMF) bond issuance and Rental Housing Revolving Fund (RHRF)
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
- presented the For Action, to approve an after-the-fact action to extend the Hula Mae Approve an After-
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Director Chun moved, seconded by Vice Chair Reimann, to approve staff's ! DECISION
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dbedt.hawaii.gov/hhfdc/files/2026/03/2026-03… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
B. Approve a Rental Housing Revolving Fund Project Award for the 1142 Kinau
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dbedt.hawaii.gov/hhfdc/files/2026/02/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Chair Mackler suggested that perhaps a dedicated advertising budget should be
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Designee Evans moved, seconded by Director Chun, to approve staffs DISCUSSION
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Obligation Bond Fund, Rental Housing Revolving Fund, and the Dwelling Unit
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
the duration of the set lease period. After the 55-year term concludes, the leases
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Designee Evans moved, seconded by Director Chun, to approve staffs
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
space and parking - allowed a workable solution for the RFP to be issued.
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
completion of 1,460 units and commence construction on 1,608 units during
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Designee Evans asked how the Waiahole leases differ from the new lease policy.
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
2% - 3 % over the current lease rent as opposed to appraised land values,
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
stated that loan closing and commencement of construction is anticipated in July 2026,
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
of the lease. Kometani stated that the rent amounts are based on the market rate
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
up to 110 parking stalls for Phase 1, of which the HHFDC would lease back to
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
particularly given that the program operates without a dedicated advertising budget.
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
recommendation, requesting approval for HHFDC's purchase of equity in 27 (23 one- AND/OR
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dbedt.hawaii.gov/hhfdc/files/2026/02/2026-02… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Purchase of Equity in Designated Units within the Kahuina Condominium Housing
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dbedt.hawaii.gov/hhfdc/files/2026/01/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
C. Approve: (1) the Hawaii Housing Finance and Development Corporation's
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dbedt.hawaii.gov/hhfdc/files/2026/01/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Factors for Determining Lease Rent
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dbedt.hawaii.gov/hhfdc/files/2026/01/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
Predevelopment Loan; and (3) a Budget from DURF for the Construction of
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dbedt.hawaii.gov/hhfdc/files/2026/01/Final-2… ↗ApprovalAgenda Onlyagenda-only · not confirmed spend
B. Approve: (1) a Dwelling Unit Revolving Fund (DURF) Budget for Offsite
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dbedt.hawaii.gov/hhfdc/files/2026/01/Final-2… ↗