Maunakea in Honolulu

Public-Private Partnerships Acquires 379-Unit Affordable Housing Community in Honolulu

by Channing Hamilton

HONOLULU — A public-private partnership consisting of Standard Communities, Stanford Carr Development, the State of Hawaii, the U.S. Department of Housing and Urban Development, the City of Honolulu and the Hawaii Housing Finance & Development Corp. has acquired Maunakea, a 379-unit affordable community in Honolulu. According to Standard Communities, this is the largest FHA deal and largest Project-Based Section 8 transaction in Hawaii state history. The deal extends the affordability of all units at the property for 20 years.

Maunakea was built in 1977 and renovated in 2000. Units come in one- and two-bedroom floor plans. Standard Communities plans to invest $41 million into renovating the community with new windows, a business center, a fitness center and the addition of grills to the picnic area. Individual units will receive updates to kitchens and bathrooms, as well as new flooring. 

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