Aloha and e komo mai to our (potential) newest neighbors in Makena!
Recently, the Maui Planning Commission cleared a major milestone on the path towards development for the H-2 Residential Project, voting 6-1 to approve H-2’s final planning and assessment reports and accepting community testimony on the matter. While a permit will still be required for the project to officially get the green light, all systems are now pointing towards final approval within the coming months.
The H-2 Residential Project is now looking to develop as many as 53 residential lots across 28 acres in Makena, which would also include other related infrastructure, parking spaces, and rock walls. Once sold, the residential lots would be developed into single-family homes by their new owners, adding more unit’s into Wailea’s luxury real estate market.
Located near scenic Malauaka Beach—an office favorite!—the high-end, residential homes planned for the area will no doubt be a hot-ticket item for local and national buyers alike, especially as the island’s ongoing real estate bonanza shows no signs of abetment in the early returns for 2022.
According to Leilani Pumlano of Pacific Rim Land, the H-2 Residential project will also help to alleviate the ongoing housing crisis for many kama’aina families to boot, as many units are also needed for those individuals who earn more than 100% of the area median income (as defined by the Housing and Urband Development, or HUD): “As stated in the study, a mix of housing units are needed in the right locations for a functioning housing market,” she said. “And this is the right location for luxury residential housing as allowed by the Maui Island Plan and the community plan.”
Estimated to cost around $128 million, the H-2 development comes on the heels of another South Maui development progressing closer to fruition. Honua’ula—a project that’s been in the works for 30 years and counting—is also gearing up to clear its final hurdles before being shovel-ready on its own accord and is set to include over 1,000 brand-new units to Wailea. A mix of single-family, multifamily, and workforce housing, Honua’ula will also include conservation and recreational spaces incorporated within the mixed-use development and will be seeking its own final approval in the coming months as well.
There’s always a lot of exciting new developments—figuratively and literally speaking—here on the Valley Isle! For all the latest and greatest, keep it tuned right here to the GM Maui Team—and don’t forget to sign up for our newsletter on the home page while you’re at it! 🤙