Development
Apopo Hale
Kapaa, Kauai
Apopo Hale
This 26-unit single-family rental community in Kapaa, Kauai, features three- and four-bedroom homes. It was the developer’s first fully-owned and managed affordable rental project, overseeing every aspect from development and financing to construction and property management. The project utilized funding from the Hawaii Housing Authority for construction and secured an FHA-insured GNMA mortgage for permanent financing, along with HUD Section 8 Rental Assistance. Completed in 1979, the community remained a rental project until its conversion to condominium property regime (CPR) in 2006, when the homes were sold at prices starting in the mid-$300,000s.
Beretania North
Honolulu, Oahu
Beretania North
This 721-unit low- and moderate-income rental project in Downtown Honolulu features one- and two-bedroom units housed within two 32-story high-rise towers, along with a seven-story parking structure. As the first high-rises on Block “F” of the Honolulu Redevelopment Agency, this landmark development was completed in partnership with The Hawaii Corporation in 1976. The project was financed using State funds from the Hawaii Housing Authority for construction and an FHA-insured FNMA mortgage, alongside support from HUD Section 8 and Section 236 Rental Assistance Programs, ensuring long-term affordability for its residents.
Hanapepe Residential Housing, Unit l
Hanapepe, Kauai
Hanapepe Residential Housing, Unit l
This subdivision, developed for the Department of Hawaiian Home Lands (DHHL), consists of 47 single-family homes and marks a significant milestone as the first project completed on 16,000 acres designated for the Hawaiian people through Governor Waihee’s land transfer settlement. Mark Development, through its affiliate Hanapepe Development, Inc., constructed 27 homes and partnered with Kauai Habitat for Humanity to turn over 20 additional lots for self-help housing. Completed in 2000, the project utilized DHHL Trust Funds for infrastructure development, while home construction was privately financed through Central Pacific Bank. This development was also the first to implement Hula Mae permanent loans on Hawaiian Home Lands, paving the way for future financing opportunities.
Hoakea Subdivision
Ewa, Oahu
Hoakea Subdivision
Ho`akea is a 156-unit single-family subdivision developed to provide below-market housing for the community. Financed by the City & County of Honolulu using Community Development Block Grant funds, the project offered families affordable homeownership opportunities through FmHA 502 subsidized mortgages and FHA-insured loans. The homes were designed and constructed to be expandable, allowing families to modify and grow their living spaces as their needs changed. Completed in 1986, the project was developed by Ewa Expandable Housing Corporation, of which Mark Development held an 80% ownership stake.
Hokulele Subdivision
Kaneohe, Oahu
Hokulele Subdivision
A 242 unit single-family detached subdivision consisting of two, three and four bedroom units in Kaneohe, Oahu. This development was the recipient of the Governor’s Affordable Housing Award in the 1987 Parade of Homes. The developer used state funds from HFDC for construction financing and FHA insured loans and Hula Mae for permanent financing. The developer completed this project from site control to home occupancy in 27 months. Engineering, architecture, sales, construction financing, zoning and subdivision approval was completed in five and one-half months utilizing the Housing Finance and Development Corporation’s statutory powers to expedite housing projects. Construction started immediately thereafter.
Kapolei Ho’olimalima
Kapolei, Oahu
Kapolei Ho’olimalima
Kapolei Hoʻolimalima, developed by Mark Development and Hawaii Assisted Housing, Inc., is a groundbreaking project that introduced the first Low-Income Housing Tax Credit (LIHTC) Rent-to-Own community on Hawaiian Home Lands, and the first of its kind in the United States. Completed in 2001, the 70-unit development provided affordable three- and four-bedroom rental homes to Native Hawaiian families earning 50% to 60% of Oahu’s median income. Designed with energy-efficient features, the project received four awards at the 2001 Building Industry Association Parade of Homes, including the Governor’s Affordable Housing Award and HUD’s Award for Excellence in Expanding Homeownership and Affordable Housing Opportunities.
Mark Development conducted extensive research to confirm the legality of using LIHTC on Hawaiian Home Lands, setting a precedent for future DHHL projects. Over 15 years of rental operations, the project successfully converted 70 families from renters to homeowners, with prices ranging from $62,871 to $76,842. Kapolei Hoʻolimalima’s success paved the way for additional LIHTC developments on DHHL properties and was featured in the National Association of Home Builders’ “The Drive Home” campaign, highlighting its impact on affordable housing.
Mark Development’s innovative approach and strong partnership with DHHL have made Kapolei Hoʻolimalima a model for affordable housing, providing not only homes but also opportunities for long-term financial stability and community growth.
Ke Ola O Pokai Bay
Waianae, Oahu
Ke Ola O Pokai Bay
Mark Development served as the development manager for this community of 125 single-family homes located in Leeward Oahu. With starting prices in the low $400,000s, this project offered an affordable entry point for families in the region. Construction commenced in 2007, and the project was recognized with the HUD Affordable Housing Award during the 2007 Parade of Homes for its commitment to quality and affordability.
Kekaha Ha’aheo
Kekaha, Kauai
Kekaha Ha’aheo
This 78-unit rental community, featuring one, two, and three-bedroom units in duplex and four-plex structures, was developed under a “Turn Key” agreement with HUD. The developer acquired the land from AMFAC, constructed the units, and then transferred ownership to the Hawaii Housing Authority (now Hawaii Public Housing Authority) for long-term management. The project was financed using State Dwelling Unit Revolving Funds (DURF) for land acquisition and construction, with HUD providing takeout financing. Completed in 1982, this project was highlighted in the film Affordable Housing—A Cooperative Venture: Lifestyles in Transition, which is now used by the University of Hawaii for educational purposes.
Kekaha Plantation Elderly Housing
Kekaha, Kauai
Kekaha Plantation Elderly Housing
This 36-unit senior housing community in Kekaha, Kauai, consists of one-bedroom units arranged in nine four-plex structures. The project was developed on land acquired from AMFAC, specifically to provide rental housing for retired employees of the company. Financed through the State Dwelling Unit Revolving Fund (DURF) from the Hawaii Housing Authority, the development offers long-term affordability and stability. Completed in 1981, the project now benefits from HUD Section 8 Rental Assistance, ensuring continued support for its elderly residents.
Koa’e Makana
Koloa, Kauai
Koa’e Makana
This 134-unit multi-family rental community in Koloa, Kauai, addresses the enduring need for affordable workforce housing on the island. Located near Kauai’s southern shores, this thoughtfully designed community provides quality housing for low- and moderate-income families, supporting the local visitor industry, small businesses, and the broader regional economy. Inspired by the area’s rich agricultural and hospitality history, the development helps ensure a stable, local workforce by offering rents affordable to families earning 30% to 60% of the area median income (AMI).
The garden-style community features 23 two-story buildings with a mix of one-, two-, and three-bedroom units, surrounded by lush landscaping and the serene Waikomo Stream. The project’s design balances the needs of affordability with modern living standards, incorporating open floor plans, granite countertops, luxury vinyl plank flooring, and energy-efficient features like solar water heating. Spacious interiors range from 742 to 1,126 square feet, with kitchen islands, walk-in closets, and ample storage that rivals single-family homes.
The community center, located adjacent to a keiki playground, offers a laundry facility and serves as a hub for family activities, while abundant parking and convenient access to schools, grocery stores, healthcare services, and the beach provide essential lifestyle benefits for residents. The development prioritizes applicants working in Koloa, reinforcing its commitment to supporting the local workforce.
Rents are established in compliance with federal guidelines, with 33 units reserved for households earning 30% AMI or less, 40 units reserved for those earning 50% AMI, and 60 units designated for those earning 60% AMI or less. HUD Project-Based Vouchers support the 33 lowest-income units, ensuring rent payments are capped at 30% of the household’s income, with federal subsidies covering the remaining costs.
The project was financed using Low-Income Housing Tax Credits (LIHTC) for equity, along with HOME and National Housing Trust funds, and Project-Based Vouchers, resulting in one of the largest affordable housing developments in Kauai’s history. Designed to serve as a model for future developments, the community is a testament to the developer’s four-decade commitment to creating and maintaining affordable housing for the people of Hawaii.
Lihue Gardens Elderly
Lihue, Kauai
Lihue Gardens Elderly
This 58-unit senior housing project offers affordable living with HUD Section 8 project-based rental subsidies and USDA financing. In 2005, the Mark Development formed a partnership to acquire and preserve the property as affordable housing after the original restrictive covenants expired. The project received $4.3 million in Rental Housing Trust Funds from the State of Hawaii to support this preservation effort. Mark Development continues to provide property management services, ensuring long-term affordability and quality living for Lihue Gardens Elderly residents.
Princess Kahanu Estates
Waianae, Oahu
Princess Kahanu Estates
Princess Kahanu Estates, a flagship development for Mark Development and the Department of Hawaiian Home Lands (DHHL), is a 271-unit single-family home community that set a new standard for affordable housing projects in Hawaii. Completed in February 1996, this project was the largest DHHL development at the time and marked the first instance of a private developer taking on a DHHL project. The development agreement for Princess Kahanu Estates became a model for future DHHL projects across the state.
Recognized for its excellence, Princess Kahanu Estates received seven awards at the 1995 BIA Parade of Homes, including the Governor’s Award, HUD’s Affordable Housing Award, the AIA Award, Single Family Division I Winner, and the Theme Award. It was also a national finalist for the “Affordable Community of the Year” by the National Association of Home Builders Marketing Council. Homes were priced between $78,800 and $146,900, making them accessible to families earning 45% to 90% of Oahu’s median income.
The project was completed just 2.5 years after the agreement was signed, utilizing CIP funds for infrastructure development, while Princess Kahanu Development Corporation (PKDC) financed home construction. Take-out financing was provided through FHA, RHS-insured loans, and VA direct loans. The VA direct loan program for Princess Kahanu Estates, supported by then-U.S. Senator Daniel K. Akaka’s Native American Veterans Direct Loan initiative, achieved a record number of mortgage loans.
Due to the project’s efficient execution, MDI and PKDC returned over $1.5 million in cost savings (equivalent to $3 million today). In recognition of this achievement, $500,000 of the developer proceeds were used to establish the Hoaliku L. Drake Scholarship Endowment at the University of Hawaii. Named after the late DHHL Chair Hoaliku L. Drake, a lifelong resident of the Waianae district and dedicated advocate for Native Hawaiians, this endowment provides tuition assistance to Nanakuli High School graduates pursuing full-time post-secondary education at any University of Hawaii campus.