The master planned community of Hoopili is off and running. Single family homes (Ha’akea) and townhomes (Haloa) are currently being released for sale. All homes in this development are first come, first serve. Homes that are being released now have a move-in date scheduled for summer 2017.
Haloa will feature new market-priced townhomes, affordable townhomes, flats, and flex homes. Hoopili will offer residents 3 rail stops, 5 DOE public schools, including 3 elementary, 1 middle, and 1 high school, and 7 recreation centers. During these early home releases, D.R. Horton is offering new homebuyers a 1-year family membership to the Kroc Center Hawaii since the recreational centers are not built.
How Much Are the Homes in Haloa?
Market-priced townhomes and flex homes start at $514,000 fee simple with a monthly maintenance fee from $249.74 to $374.81. Affordable townhomes start at $374,000 fee simple with a monthly maintenance fee of $249.74 – $343.65. Affordable flats start at $330,000 fee simple with a monthly maintenance fee of $181.41 – $281.31. There is also an additional master association fee of $59.00 monthly.
Something to Note
The affordable townhomes and affordable flats require homeowners to live in the townhome or flat as their primary residence for 10 years. Typically homeowners are not allowed to rent or sell their property for the first 10 years of residence. Once the 10 years are up, homeowners can sell or rent the property for market price.
This could be a huge profit for homeowners if the prices continue to rise in Hawaii. In order to qualify for the affordable townhomes and flats, there are income limits by family size. If you are interested, an application will need to be filed and approved along with the normal financing paperwork.
I Want a New Home, Now What?
Congrats, that’s wonderful news. The first step would be to get pre-approved with a lender or bank. It’s always best to shop around since different lenders and banks offer different rates and terms. If you decide to use D.R. Horton’s in house lender, they will offer anywhere from $4k – $8k in closing costs. If you are interested in using D.R. Horton’s in house lender, this could be done online from the comfort of your home.
Model Homes
Next it’s time to schedule to see the model homes. The sales office requires the agent to accompany the client on their first visit. Please let us know when it would be a good time to meet and we will visit the model homes and get you registered.
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