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Imi Ikena

Overlooking the Pacific Ocean this crown jewel of Maui is providing some relief to the affordable housing crisis that exists in Hawaii.

Imi Ikena Apartments is a 4-story 28-unit new construction affordable rental housing community located in the town of Wailuku on the island of Maui.

Unit amenities include washer/dryer, patio, and a fully equipped kitchen with range/oven, refrigerator, garbage disposal, dishwasher, and microwave.

The sustainable building methods being incorporated into the design and construction include Energy StarĀ® appliances, HVAC equipment, lighting and water heaters. In addition a Solar Hot Water system preheats all hot water throughout Imi Ikena.

Financial support was provided by the County of Maui through a soft $2,750,000 residual receipt loan and the State of Hawaii contributed $2,069,000 in State Tax Credit Exchange Proceeds.

The building fully occupied in less than 10 days after construction completion and there are approximately five hundred households on the waiting list.
Total Project Costs - $13.6 million
Construction Costs - $8.5 million
Number of Units - 28
Location - Wailuku, Maui, HI
Site Control Date - September 2008
Project Completion Date - November 2013
On Schedule? - Yes
Architect - Lippich & Associates
General Contractor - Hunt Building Co
Construction Lender - Bank of Hawaii
Permanent Lender - Bank of Hawaii
Tax Credit Investor - Hunt Capital Partners
Tax Credit Investor - Hunt Capital Partners

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