Hawaii-based affordable housing developer Lokahi Global Corporation is seeking to replace a proposed six-story hotel with needed workforce housing in Wailuku town. A proposed 125-unit multi-family complex would offer 1, 2, and 2-bedroom + loft residences designed to enhance the “Live-Work-Play” vison of the redeveloped Wailuku Town. Sixty percent of the units will be priced in the “affordable” range and 40 percent will be priced at market rates. To be located between Main Street and Maluhia Drive, between Central Ave. and Market Street, project plans are fully compliant with area zoning requirements. This project would replace the proposed six-story Wailuku Hotel that met with community opposition in 2020.
“I whole-heartedly support this plan because it’s exactly the type of housing that young professionals and working couples are asking for,” said Mayor Michael Victorino. “It supports a car-free lifestyle for Central Maui workers since a walkable Wailuku and its proximity to the Ka`ahumanu Avenue Community Corridor can eliminate the need for a car, including both financial and environmental costs.”
“Lokahi Global Corporation is proud to provide walkable, livable workforce housing in the heart of Wailuku Town for the Maui community,” said Timothy Yi, President & CEO of Lokahi Global Corporation.
Timothy Yi has had great success with two previous Oahu affordable housing projects: the 485-unit Kapiolani Residence and the 513-unit The Central Ala Moana both received international awards for excellence in affordable housing. In 2019, Mr. Yi received the “Urban Vision Award” from the International Real Estate Federation-USA for his individual accomplishment of providing society with optimal solutions for property needs. Mr. Yi is a graduate of Kaimuku High School and the University of Hawaii, Manoa. He also earned a Bachelor of Theology from the International Theological Seminary in California.