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FAQ

 What should I do first?

The public drawing is complete, and homes are now available on a first-come, first-served basis.
 
First, download the "Project Information Packet" from step #2; 
Next, complete the Mann Mortgage online application;  A  Mann  Mortgage consultant will be contacting you upon completion;
Next, Please fill out the contact us form from the website or call us at (808) 457-1977;
Then, make copies of all your documentation and complete the Application Packet here and deliver both the  Mann  Mortgage documentation requirements and the Application Packet documents to:
 
Mann Mortgage
Attn: Rose Kirland NMLS# 379226
Kapolei Branch
1001 Kamokila Blvd. #136
Kapolei, HI 96707
8:00am - 5pm M-F

OR
 
Mann Mortgage
Attn: Rose Kirland NMLS# 379226
Honolulu Downtown Branch
1188 Bishop Street, #PH2 – 36th Floor
Honolulu, Hi 96813
8:00am - 5pm M-F
 
 
 OR, call us at (808) 457-1977 and we can schedule a pick-up/drop-off at a suitable time and place.

 Where can I download the Public Report or other Real Estate Commission documentation?

Please click on the following links to download project specific documents:
 
 
 
3.  Bylaws
 
 
 
 
 
 

 What personal documents might I need? Is there an application check-list?

The Application must include the following:
 
The Application Receipt, or pages one (1) through three (3) of the Application, with signatures. If married, include your spouse's information and signature. If applicable, also include a Co-Application, signed by your spouse and accompanied by supporting documentation.
 
Complete copies of both State and Federal Income Tax returns, signed, from the most current year and from all household members eighteen (18) years of age and older, as well as generating income W-2’s for the most current year.
 
If you are self-employed, General Excise Tax filing for the most recent two (2) years and any other supporting income documents.
(See Exhibit “A” IV,B)
 
Pay statements from the most recent month, or a Verification of Employment (VOE) statement for all working household members eighteen (18) years and older.
 
Pay statements from the most recent two (2) months (must be consecutive) are required if you do not include a Verification of Employment (VOE) statement.
 
If you are paid weekly, you must submit the most recent five (5) consecutive pay statements. 
 
If you are paid bi-weekly, you must submit the most recent three (3) consecutive pay statements. 
 
If you are paid semi-monthly, you must submit the most recent (2) consecutive pay statements. 
 
Citizenship Verification, copied on both front and back, is required if you are a Permanent Resident Alien.
 
If you are a citizen of the Republic of the Marshall Islands, the Federated States of Micronesia, or Palau, you must submit a copy of the I-94.
 
If you are a recent resident of Hawaii and no Hawaii State Tax return was filed, a Voter Registration Certificate and a pay statement showing Hawaii State Withholdings must be submitted.
 
Possible additional documentation that may apply to you:
 
An Affidavit as to adult family members for non-dependent household members eighteen (18) years and older must be notarized.
 
An Affidavit as to the applicant's legal and/or physical custody of children, if required by the Hawaii Housing Finance and Development Corporation (HHFDC), must be notarized.
 
Acknowledgement of any prior purchase of affordable property.
 
Request for Preference.
 
Real Estate Disclosure Statement.
 
An Affidavit of the Co-signer/1% Co-Mortgagor and Owner-Occupant Buyer must be notarized.

 What are the income restrictions to qualify? (State of Hawaii)

The MAXIMUM Income Limits for meeting the State of Hawaii Affordability Requirements are:
 
$96,040 for a one (1) person family.
 
$109,760 for a two (2) person family.
 
$123,480 for a three (3) person family.
 
$137,060 for a four (4) person family.
 
$148,120 for a five (5) person family.
 
$159,040 for a six (6) person family.
 
$169,960 for a seven (7) person family.
 
$181,120 for an eight (8) person family.
 
These numbers are from the 2013 income restrictions as published by United States Department of Housing and Urban Development (HUD). 
 
If your family income is at or below the number that corresponds to your family size, pending approval from the Hawaii Housing Finance and Development Corporation (HHFDC), you should meet the income requirements.
 
For the detailed 2013 chart of income restrictions as published by the United States Department of Housing and Urban Development (HUD), visit: http://hawaii.gov/dbedt/hhfdc/developers/2013%20Honolulu.pdf

 Where do I submit my financial information to pre-qualify for a home?

You may submit your documentation online through the secure Mann Mortgage website here.  Please notify us of your submission via email to dakinehomes@gmail.com, or via phone call at (808) 457-1977, so that we may confirm receipt with  Mann Mortgage. 
 
OR
 
You may submit your documentation directly to the following locations:
 
Mann Mortgage
Attn: Rose Kirland NMLS# 379226
Wk: 440-0918
Cel: 276-5093
1001 Kamokila Blvd. #136
Kapolei, HI 96707
8:00am - 5pm M-F
 
 
OR, call us at (808) 457-1977 to schedule a pick-up/drop-off at a suitable time and place.

 Where & When may I drop off my application?

You may drop off your application at any of the following locations:
 
Mann Mortgage
Attn: Rose Kirland NMLS# 379226
(808) 276-5093
Kapolei Branch
1001 Kamokila Blvd. #136
Kapolei, HI 96707
8:00am - 5pm M-F
 
OR, call us at (808) 457-1977 to schedule a pick-up/drop-off at a suitable time and place.

 What will my monthly Home Owners Association (HOA) fee be?

The Home Owners Association's (HOA's) monthly fees are currently estimated to be $85.60. This number is subject to change without notice. Fees will cover maintenance of the private park, and necessary insurances.
 
All utilities will be submetered.
 

 Can someone else help me to qualify for the loan?

Yes! 
 
The applicant may be assisted by a family member as a co-mortgagor in order to qualify for a mortgage loan.

The co‐mortgagor will be required to sign a certificate stating that he/she will not reside in the unit, and that he/she is limited to no more than one percent (1%) ownership interest on the unit being purchased.

Please speak to your mortgage lender to determine what options, if any, are available to you.

 What options does the "deluxe" package include?

The deluxe package includes upgrades for the following items:
 
  • Cherry Cabinets
  • Granite Counter tops
  • Stainless Steel Appliance
  • Two tone-ceiling to Match Interior Trim
  • Window sills Bulldozed with Wood Base 
  • Ceramic Tile flooring in Kitchens and Baths
  • Solid Hardwood Floors or other High Quality Laminate in all other Living Areas
  • Ceiling Fans in Dining Room, Living Room, and Bedrooms
  • Mirrored Closet Doors in Bedrooms
  • Windowed Front Door 
  • Two Tone Exterior Paint
  • Rocker Panel Light Switches
  • Additional Breaker Switch in Fuse Box and External Wiring by Carport to Support the Installation of an electric vehicle charging Station. 
  • Cabinets Below Kitchen Island
  • Upgraded Baseboards
  • Mirrored Medicine Cabinets in Bathrooms
  • Upgraded Electrical and Plumbing fixtures (lights, faucets, etc.) 

 What is the Unit Selection Process?

The public drawing is complete, and homes are now available on a first-come, first-served basis.
 
Please click here to download the Frequently Asked Questions pertaining to the Unit Selection Process.

 What is HHFDC?

 
HHFDC is the state agency sponsoring Green Homes at Lualualei.
 
The Hawaii Housing Finance and Development Corporation is "the primary agency charged with overseeing affordable housing finance and development in Hawaii. Led by a nine-member board and executive director, HHFDC works with the state’s residents, housing developers and financiers to make housing dreams come true."

 What is the SAE Agreement?

The SAE Agreement stands for the Shared Appreciation Equity Agreement.  The SAE Agreement stipulates that HHFDC is entitled to a fractional share of the appreciation when an affordable home is sold. 
 
The SAE program was adopted by the Hawaii Housing Finance and Development Corporation's (HHFDC) Board of Directors in 1990.
 
The purpose of the SAE program is to recover and preserve a fair return upon resale, transfer, rental, or non-occupancy of the property as the buyer's principle residence, on the State's resources, utilized under the 201H program.
 
Basics Of The SAE Program
 
- Full disclosure of the SAE will be provided prior to signing a sales contract
 
- Sample computations for the SAE are provided in the sales contract disclosure and deed exhibits
 
- The SAE is effective from the date of recordation
 
- SAE percent shares are determined prior to closing and does not change
 
- The SAE works simultaneously with the 10-year Buyback program
 
- The SAE requires owner-occupancy
 
- The SAE does not automatically expire
 
- The SAE requires consent from the Hawaii Housing FInance and Development Corporation (HHFDC) under certain circumstances
 
- Cancellation of the SAE may occur under certain circumstances
 
- Refinancing for the SAE is limited
 
 
Benefits Of The SAE Program
 
- SAE payments may be made in advance
 
- Certain types of transfers are permitted with prior written consent from the Hawaii Housing Finance and Development Corporation (HHFDC)
 
- Income received from revenues of the SAE program are used to fund future development of affordable, for-sale housing, rather than using taxpayer funds

 What is the 10 Year Buy Back Provision and rules?

The 10-Year Buy Back Provision is intended to encourage the owner of an affordable unit to be an owner-occupant for a period no less than 10-years.  It expires 10 years from date of purchase.  More details can be downloaded here
 
For a 10-year period HHFDC has the first option to purchase the real property in the event the owner sells, transfers interest that is not a "permanent transfer," rents any portion of the real property, no longer lives on the property as the owner's principal residence.  The purchase price within this 10-year period is calculated according to a prescribed formula set forth in the state statues. 
 
Also known as the "10-Year Use, Sale and Transfer Restriction" and the "10-year First Option to Purchase Program", this program is a deed restriction that requires approval from HHFDC when a change is being made to title or financing, or from capital improvements. 
 
If owner needs to sell, HHFDC may repurchase the home or allow owner to sell to an affordable buyer.  Owner may obtain a temporary owner-occupancy waiver for a period not to exceed 10 years for certain hardship circumstances: restriction will extend a month for each month waived.  Certain hardships may include unforeseen job transfer, temporary educational sabbatical, serious illness or other hardship cases as determined by HHFDC. 
 
Owner is to notify HHFDC in writing when selling, transferring title, renting or moving out, refinancing loan, or needing a temporary owner-occupant waiver.  HHFDC will review and determine whether it will repurchase the unit, or allow the owner to sell or transfer, consent to loan being made, or allow a temporary occupancy waiver.
 
When refinancing the home, lender needs to obtain HHFDC's consent to mortgage.  Refinance will be limited to no greater than the original purchase price plus allowed closing costs.
 
HHFDC's purchase price is calculated according to the repurchase formula found in state statues Section 201H-47 (a)(1).  Calculation includes original purchase price plus closing costs, plus costs of capital investments, plus 1% per year simple interest on purchase price and costs. 
 
There are permitted transfers by will or laws of descent upon death of owner to family member who qualifies, resulting from divorce, legal separation or a property settlement agreement where a spouse becomes owner and transfer between co-owners of property.  Also for transfer by adding a qualified person to title and sale of transfer at a price and upon terms that would preserve the intent of this program upon approval by HHFDC.

 Where can I download the site plan?

You may download the site plan here.   The exact dimensions and square footage of the lots is subject to change without notice.
 
The buildings and lots on the site plan have not been constructed.  The rendering is strictly conceptual in nature and is not a representation or warranty of any kind by the developer as to what the building or surrounding area will look like when the building is completed.  The developer specifically disclaims any and all such representations and warranties.  All aspects of the building(s) & site plan are subject to change at any time at the Developer's discretion.

 Where can I see the rendering of the site again?

You may see the rendering here
 
The buildings illustrated on the rendering are for illustrative purposes only. They are not a representation or warranty of any kind by the developer as to what the building or surrounding area will look like when the building is completed.  The developer specifically disclaims any and all such representations and warranties.  All aspects of the building(s) & site plan are subject to change at any time at the Developer's discretion.
 

 Where can I download the Public Drawing Handout?

The public drawing is complete, and homes are now available on a first-come, first-served basis.
 
The public drawing handout is located here

 Where can I download the Information Packet?

The public drawing is complete, and homes are now available on a first-come, first-served basis.
 
Information packet may be downloaded here

 Where can I download the Application Packet?

The public drawing is complete, and homes are now available on a first-come, first-served basis.
 
The Application Packet may be downloaded here

 What day is the Public Drawing / Lottery?

The public drawing is complete, and homes are now available on a first-come, first-served basis.

 Timeline / When will the homes be ready?

Move-in for the first homes on lot # 17, & 19 is scheduled for spring 2013. The remaining homes on lots 11-25 are scheduled for phased construction throughout 2013. No date has been scheduled for construction of homes on lots 1-10.
 
All timelines are subject to change without notice.

 Will I need a down payment or deposit?

Down payments will be determined by your family's financial situation.  Some buyers will qualify for a no down payment loan, while others will require a sizable down payment.  Some cash will be required from all buyers in order to cover closing costs.  Please refer to the Project Information Packet for details on these costs.
 
A refundable $3,000 deposit will be required to select a unit during the Unit Selection process.  The Unit Selection day will follow the Public Drawing / Lottery.  Both dates are yet to be determined.   
 
In additon, because of HHFDC's SAE Program, before closing the initial sale of each affordable unit in the Project, HHFDC shall have an independent appraiser prepare an appraisal for each such individual unit.  The appraisal shall be paid for by the buyer's additional deposits held in escrow and shall be paid directly from escro to HHFDC's selected appraiser.  Developer shall disclose buyer's additional cost as part of the sales contract.  
 


 Can I get some updated photo's of the construction?

 

 Where Should I go for Home Ownership Counceling?

If you are interested in more information and educational services about home ownership, please contact the Hawaii Home Ownership Center:
 

Hawaii HomeOwnership Center

1259 Aala Street, #201

Honolulu, Hawaii 96817

Phone:  808-523-8116

Toll-free:  877-523-9503

Fax:  808-523-9502

www.hihomeownership.org

 


 Is Solar Electic (PV) Standard?

Solar Electric (PV) systems are standard on all homes.
Homeowners will save on their electric bills over the life of the home with reduced electricty bills.
Developer or developer's asignee will cover the costs of installation and maintenance of the systems and will bill the homeowners monthly for electricty consumed. Monthly billing will be discounted from current HECO rates. 
 
 
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