Hawaiʻi’s plan to develop leasehold homes advances
An unconventional state initiative to build more homes for Hawaii residents with moderate incomes is approaching a critical test to see whether homebuyers want high-rise condominiums with 99-year land leases.
Leasehold condo plan could work
The idea, branded as ALOHA Homes (Affordable Locally Owned Homes for All), is to build and sell the leasehold condos at no long-term cost to Hawaiʻi taxpayers.
State-backed leasehold condo pilot pending
Senate Bill 865 would establish a pilot program to develop one condo project for sale on state land under a 99-year land lease in an effort to demonstrate whether the concept is a viable solution to increase the long-term supply of affordable housing.