Much-needed affordable rentals now open in Honolulu’s urban core

HONOLULU (HawaiiNewsNow) – State and city leaders held a blessing Friday morning for a new affordable housing project in Chinatown.
Some 40 newly renovated apartments are now open at the Hocking Building located at the corner of N. King Street and Nuuanu Avenue.
The rentals are for families that make 30 to 50 percent of the area median income.
Rent for studio units range from $731 to $1,218; one-bedroom units from $783 to $1,305; and two-bedroom apartments from $939 to $1,566 a month.
Those involved in the project say it is a historic building that will bring critically needed rentals to Honolulu’s urban core.
“Throughout its century-long history, the Hocking Building has served various purposes. It was a hotel most recently, a bank, but it was also a boarding house at one point. These 50 units here will fill a much needed space in Honolulu’s affordable housing landscape,” said David Oi, Hawaii Housing Finance and Development Corporation housing finance manager.
“We acquired this building from the descendants of Alfred Hocking. This is the first time this building has changed hands in over 100 years,” said Mark Hashem, Hocking Building LP development partner.
The state says the project has committed to an affordability period of 61 years.
Get more information on the project and how to apply.
Copyright 2024 Hawaii News Now. All rights reserved.