Celebrating the Grand Opening of Nāulu Apartments: 302 Affordable Homes in Hālawa, ʻAiea
On August 29, 2025, the City and County of Honolulu joined community partners to celebrate the grand opening of Nāulu Apartments in Hālawa, ʻAiea. Nāulu Apartments—also known as Hālawa View II—is a brand-new 25-story, $168 million affordable housing tower located near Pearl Harbor. The project delivers 302 deeply affordable rental units for households earning 30–60% of the Area Median Income, with rents (including utilities) ranging from $704 to $2,404. Representing the City, Deputy Managing Director Krishna Jayaram emphasized the importance of government’s role in advancing housing solutions, noting, “We’re here to facilitate amazing projects like these.”
Pacific Development president Joe Michael credited Deputy Managing Director Krishna Jayaram for helping resolve key issues during the project’s development, calling him a “total savior” and pointing to the City’s partnership as essential to moving the project forward.
“Nāulu Apartments is an incredible achievement and a powerful example of what we can accomplish when government, developers, and community partners come together with a shared purpose,” said Mayor Rick Blangiardi. “This project delivers more than 300 affordable homes for local families at a time when housing is our most pressing challenge. We are deeply proud to support developments like this that provide stability, opportunity, and hope for generations to come.”
The City played a key role in making this project possible through a $5 million investment from its Affordable Housing Fund (AHF). Established by voters in 2006 but left largely unused for more than a decade, the fund is now being deployed publicly for the first time under this Administration to help close critical financing gaps. Nāulu is one of the first generation of AHF-supported projects, marking a new era in how the City uses local resources to leverage state and federal funding. Alongside Nāulu, the City also invested in Aloha Iā Halewilikō in ʻAiea ($6 million; 140 units) and Hocking Hale in Honolulu ($3.9 million; 40 units). Together, these inaugural AHF projects are delivering hundreds of affordable homes across Oʻahu and setting a precedent for how the fund will be used going forward.
In addition to the City’s contribution, Nāulu was backed by $93.3 million in state and federal Low-Income Housing Tax Credits (LIHTC) and a $42.3 million loan from the Hawaiʻi Housing Finance and Development Corporation’s Rental Housing Revolving Fund (RHRF). Combined, these sources made possible the largest LIHTC project built in Hawaiʻi in 15 years, with affordability guaranteed for at least 61 years.
For more details and residency updates, please visit the project website.
