Download The Flats at Sky Ala Moana East Application Packet
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AFFORDABLE HOUSING

Learn more about the application process, read through our frequently asked questions, meet our sales team and project lenders for The Flats.

DOWNLOAD THE APPLICATION PACKET

STEPS TO APPLY

01

Learn More

Pick-up/download an AH packet

02

Complete Your Packet

Meet with a Project Lender and organize your documents

03

Initial Review

Packets will be checked for completeness of application and documents.

04

Unit Selection

Select your unit

05

DPP Review

Eligibility review period by the DPP

06

Contract Your Unit

Schedule your contracting appointment

07

Close on Your Unit

Your Unit is available to close in as little as 45-days from contracting

01Announcement Packet pick-up begins day after first announcement from 8/27/22 Until 10/2/22

Following the first newspaper ad announcing The Flats, interested applicants may stop by the Sky Ala Moana Sales Gallery for a packet or go to the website www.theflatshonolulu.com to register and download a packet. The Sales Gallery will be open daily, from 10 AM till 6 PM, excluding holidays. The last day to download online or pick-up a packet at the Sales Gallery will be specified in the ad. View the Ad

02Complete Your Packet Meet with a Project Lender and organize your documents. Turn in your packet from 9/10/22 Until 10/16/22

Get an early start  and start organizing your documents ahead of time.

  1. Compile your paystubs, tax returns, photo ids, bank statements, and more
  2. Meet with a developer approved Project Lender to get Prequalified
  3. Fill out the Application Form, Lottery Registration, and Checklist (View Checklist)
  4. Submit your Application

03Initial Review

All complete packets will be giving a Registration ID # to be entered in the lottery. Please note all packets initially deemed complete are subject to eligibility approval from the Department of Planning and Permitting (DPP).

04Unit Selection

Lottery Participants will have a designated time to determine their desired unit based on their chronological unit selection order. Appointment times will take place in a group setting. When selecting a unit the prospective buyers must bring a cashier’s check or money order in the amount of $75.00 for the review fee made payable to “The City and County of Honolulu”

05DPP Review

The Department of Planning and Permitting (DPP) will review the eligibility of unit selected applications. DPP may request additional information, which must be provided in a timely manner.

06Contract your unit

After DPP review and approval, the Sales Team will be contacting you to schedule your contracting appointment. Any remaining inventory will be available on a first come first served basis, after all lottery applicants have gone through their selection and contracting.

07Closing your unit

The Flats units are able to close in as little as 45-days from contracting. Please reach out to your lender, sales agent, and representing broker to see how soon you will be able to move into your brand-new residences at The Flats!

Eligibility

Learn more about the City and County of Honolulu’s Department of Planning and Permitting (DPP) Affordable Housing Rules (AHR) effective as of March 31st, 2019.

Eligibility List

AMI & Household Size

How to Prepare For Your Lender Meeting

Learn from the project lenders on what steps to take in preparing for your meeting with your lender.

Meet The Project Lenders

Documents list for Lenders

Buyback and Resale

The Flats units will be offered at a 30-year, and 10-year restriction periods. The City’ Transfer, Use and Sales Restrictions require, among other things, that: (a) the AH Unit be occupied as a buyer’s principal residence at all times during the Restriction Period; and (b) if a buyer wishes to sell or transfer title to the AH Unit during the Restriction Period, the City and County of Honolulu (“City”) may exercise its first option to purchase the AH Unit at a certain sales price under certain conditions.

 

Learn more about DPP’s Buyback and Resale Rules and Regulations to understand the process and to learn how this Affordable Housing Program supports our local community.

Buyback Restrictions

FREQUENTLY ASKED QUESTIONS

Here are answers to commonly asked questions which may help in your home buying decision.

>>

What are the Benefits of the City and County of Honolulu Department of Planning and Permitting (DPP) Affordable Housing Program?

Benefits of the City and County of Honolulu (the “City”) Affordable Housing Program include:

  1.  Providing eligible and qualified applicants the option to purchase at below market prices in the Urban Honolulu.
  2. Homebuyers have an opportunity to live in town at a brand-new development that fits their budget.
  3. Gifting and co-signing provide additional assistance for financing.
  4. Household limitations subject to the City and County of Honolulu ordinances.
  5. There is No Shared Appreciation Equity (SAE) requirement for this Affordable Program.
>>

Is the Flats pet friendly?

Yes. Buyer may have one (1) pet under the maximum weight limit of 40 lbs.

>>

What is the Deposit schedule?

There will be a total of 10% deposit required within the first 30-days of signing the sales contract for a unit in the Flats.

  • 5% of the purchase price will be due at contracting
  • 5% of the purchase price will be due on the 30th day from contracting

The remaining balance will be due during pre-closing.

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What are the Eligibility Requirements?

There are eight (8) eligibility requirements for this affordable housing offering that prospective buyers need to confirm at the time of submitting their application:

  1. I am a citizen of the United States or a resident alien.
  2. I am at least eighteen (18) years of age.
  3. I am domiciled in the State of Hawaii and have a bona fide intent to physically reside in the AH unit for the duration of the restriction period or lease agreement.
  4. My total gross household income does not exceed the unit’s designated income limit.
  5. I have sufficient gross household income to qualify for a mortgage and spend no more than 33% of gross household income toward monthly housing payments.
  6. I, either individually or with a household member, do not own or have not owned for three years prior to this application, a majority interest in fee simple or leasehold lands suitable for dwelling purposes.
  7. My total net available household assets does not exceed the purchase price of the unit.
  8. I have not previously received assistance under a program designed and implemented by any State or county agency to assist persons to purchase affordable housing units.
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What does "AMI" stand for?

AMI stands for Area Median Income and is updated annually in the middle of the calendar year by The City and County of Honolulu.

 

More about DPP’s AMI and Rules

>>

Do The Flats units have parking?

Parking is sold separately.

Every Flats unit may be purchased with one parking stall for an additional $38,000.

If a buyer wishes to purchase a parking stall they must notify the sales agent during their unit selection.

>>

What happens if I need to move out during my thirty (30) Year Buy-Back Restriction?

Owners who need to sell during their affordable period will need to notify the Director designated by the Department of Planning and Permitting ( “DPP”). They must provide The City and County of Honolulu’s Budget of Fiscal Services (BFS) or qualified Non-Profit Housing Trust the first right of refusal.

If they do not purchase the affordable unit, then the owner must sell their unit to a qualified buyer who meets the same AMI group as the original owner and all eligibility requirements from the affordable housing rules. The new buyer will also have to fulfill the remaining affordable period and be approved by DPP.

 

Please view the Buyback and Resale video

>>

Can I rent out my unit if I am going to be away?

The Director designated by DPP may allow an owner to rent out their unit due to extreme circumstances.

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What is the estimated maintenance fee and what does it include?

The estimated monthly maintenance fee is approximately $1.05 per square foot plus an additional amount for basic cable and internet. Water, Sewer, and Electricity will be separately metered and billed to the owner.

The Flats will not have amenities access or use at the project.

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What is the Restriction Period?

The Restriction Period is the year amount that a unit will need to remain under the City’s Affordable Program and Restrictions. The current affordable period on the Kukui units (Ordinance) is thirty (30) years, and the available Palm units (Community Benefit) is ten (10) years.

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What are the Current Household Size and Income Limits?

2023 income limits for Affordable Housing units designated for households earning:
 Household Size 120% of AMI 140% of AMI Eligible Home Size
1-person household $110,040 $128,380 Studio, 1 Bedroom
2-person household $125,760 $146,720 Studio, 1 Bedroom, 2 Bedroom
3-person household $141,480 $165,060 1 Bedroom, 2 Bedroom
4-person household $157,200 $183,400 2 Bedroom
5-person household $169,800 $198,100 2 Bedroom

THE FLATS SALES TEAM

Contact one of our knowledgeable Sales Agents to learn more about The Flats at Sky Ala Moana.

Rosalei T. Rankin

Assistant Sales Manager
RS-75822
(808)386-7489
rosie@associatedhawaii.com

Laurie Kay Oh

Project Sales Agent
RS-72521
(808)722-6615
laurie@associatedhawaii.com

Beau C. Moody

Project Sales Agent
RS-76159
(808)222-0323
beau@associatedhawaii.com

THE PROJECT LENDERS

We are proud to partner with the following developer approved local banks.
Please contact one of the developer approved lenders for assistance on qualifying for The Flats at Sky Ala Moana East.

DOWNLOAD LENDERS INFORMATION

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Disclaimer

The listings of units, prices, other amounts, and information are only as of the date set forth on this page.  Units, prices, other amounts, and information are all subject to prior sale, reservation, change by the developer, increase, and reduction. This is not an offer to sell, nor is it an obligation or contract of any kind. All figures, facts, information and prices are approximate and are subject to change at any time. Unless you and the developer both sign a binding sales contract for a specific unit, you do not have a right to purchase a unit at any particular price. You are advised to obtain and read the Public Report required by the laws of the State of Hawaii.  Despite the developer’s efforts to provide accurate information, it is not possible to ensure that all information is up to date. The developer assumes no responsibility for any actions taken as a result of reading this email. No content from this price list may be copied, republished, posted, or distributed in any way without written developer approval.

The information contained herein should not be relied upon in deciding to purchase a unit. All figures, renderings, maps, site and floor plans, photos, simulated views, images and other information depicted were developed for mockups and marketing purposes only to assist the purchaser in visualizing the residences. THE FLATS RESIDENTS WILL NOT HAVE AMENITY ACCESS OR USE IN THE PROJECT. They may not accurately depict the project and may change at any time. All figures, facts, information and prices are approximate and are subject to change at any time. To the extent permitted by law, the developer disclaims all liability that may arise out of errors or omissions in the content hereof.

This is not intended to be an offering or solicitation of sale in any jurisdiction where the project is not duly registered or where such offering or solicitation would otherwise be prohibited by law.

All artist renderings are for illustrative purposes only and are subject to change without notification. All views, square footages, finishes, fixtures, layouts and dimensions are approximate and subject to change at any time.