Developers Kobayashi Group and Ahe Group, along with the City and County of Honolulu, have completed the first units in Parkway Village at Kapolei, which will have 401 affordable units, from studios to four-bedroom apartments, when complete.
Parkway Village is being built on land owned by the City and County of Honolulu in a $199 million public-private partnership between the city, the developers, the Hawaii Housing Finance and Development Corp. and financial partners CREA LLC and Bank of Hawaii, and financed with low-income housing tax credits and Hula Mae bonds. The project broke ground in September 2023 and a blessing for the first completed units was held last week.
The apartment complex is being built for residents earning 30 to 60 percent of the area median income, which equates to between $41,760 and $83,250 for a family of four.
The project will also include two preschools, including Hawaii’s first privately developed public charter preschool, in partnership with Kamehameha Schools and operated by Parents And Children Together. The second preschool for residents will be operated by Keiki O Ka Aina.
"Parkway Village provides quality homes, access to early education, and a focus on sustainability, health, and well-being for families in West Oʻahu," said Alana Kobayashi Pakkala, CEO and managing partner of Kobayashi Group. "Affordable housing and early childhood education play a vital role in building strong communities, and we are honored to contribute in a way that supports the well-being of residents.”
