Much-needed affordable rentals are now opening in downtown Honolulu

HONOLULU (HawaiiNewsNow) – State and city leaders held a blessing Friday morning for a new affordable housing project in Chinatown.

About 40 newly renovated apartments are now open in the Hocking Building at the corner of N. King Street and Nuuanu Avenue. The building has one and two bedroom units.

The rents are for families making 30 to 50 percent of the area median income.

Rent for studio units ranges from $731 to $1,218; one-bedroom units from $783 to $1,305; and two-bedroom apartments from $939 to $1,566 per month.

Those involved in the project say it’s a historic building that will bring critically needed rents to downtown Honolulu.

“Throughout its century-long history, the Hocking Building has served various purposes. It was a hotel most recently, a bank, but it was also a boarding house at one point. These 50 units here will fill a much-needed space in Honolulu’s affordable housing,” said David Oi, Hawaii Housing Finance and Development Corporation’s Housing Finance Manager.

“We acquired this building from the descendants of Alfred Hocking. This is the first time this building has changed hands in over 100 years,” said Mark Hashem, development partner of Hocking Building LP.

The state says the project has committed to an affordable period of 61 years.

Get more information about the project and how to apply.