In a milestone both Mayor Rick Blangiardi and Gov. Josh Green say underscores the importance of retaining current affordable housing and fostering recent development, the 48-year-old Maunakea Tower in Chinatown reopened on Monday following a two-year, $35 million renovation.

What You Need To Know

  • The 32-story building, which houses some 600 residents, mostly kupuna, was purchased from a private developer in 2023 for $105 million raised via private activity bonds, the first purchase of this type in about 20 years
  • The transaction was led by the City and County of Honolulu, the State of Hawaii, HUD, national affordable housing investor and developer Standard Communities, local developer Stanford Carr Developent and the Hawaii Housing Finance and Development Corporation
  • All units are covered under a Housing Assistance Payment (Section 8) contract with the U.S. Department of Housing and Urban Development. The existing contract, which was to expire in 2028, was extended for another full term upon purchase
  • As part of the renovation, apartments were outfitted with new fire sprinklers, appliances, plumbing and fixtures

The 32-story building, which houses some 600 residents, mostly kupuna, was purchased from a private developer in 2023 for $105 million raised via private activity bonds, the first purchase of this type in about 20 years. The transaction was led by the City and County of Honolulu, the State of Hawaii, HUD, national affordable housing investor and developer Standard Communities, local developer Stanford Carr Developent and the Hawaii Housing Finance and Development Corporation.

All units are covered under a Housing Assistance Payment (Section 8) contract with the U.S. Department of Housing and Urban Development. The existing contract, which was to expire in 2028, was extended for another full term upon purchase.

“This project is the U.S. Department of Housing and Urban Development’s largest Housing Assistance Payment contract in the state and with the return of ownership to our islands, we are ensuring that 378 families can continue to call Maunakea Tower home,” Blangiardi said at a reopening ceremony on Monday.

As part of the renovation, apartments were outfitted with new fire sprinklers, appliances, plumbing and fixtures. Other upgrades and additions include updated elevators, an online resident portal for rent payments and maintenance requests, and new common-area features.

“Maunakea Tower is more than just a building; it’s a thriving community where families can flourish and kupuna can live with dignity,” Green said. “Today, we celebrate not only this achievement but also the hope and opportunity it represents for our future. Together, we can continue to build a Hawaii where everyone has a place to call home.”

Michael Tsai covers local and state politics for Spectrum News Hawaii. He can be reached at michael.tsai@charter.com.