Public Invited to Blessing and Dedication of Kohanaiki Beach Park

Kohanaiki Invite

Governor Signs Legislation to Bring Homeownership within Reach for More Island Families

On Friday, Gov. Neil Abercrombie signed Senate Bill 1025 to make homeownership more accessible to Hawaii households by updating the Hula Mae Single Family Mortgage Loan Program and broadening eligibility.

Home Ownership
“This bill will make owning a home more than just a dream for many island families,” said Gov. Abercrombie, who also took the opportunity to proclaim June as Homeownership Month in Hawaii. “Homeownership strengthens families and builds communities. It also fosters economic prosperity and generates economic growth, which benefits us all.”

Part of the Governor’s legislative package, SB1025 (enacted as Act 135) updates the Hula Mae Single Family Mortgage Loan Program to allow broader program participation by potential single family homeowners, especially for eligible borrowers’ principal residences. It also adds down payment, closing cost and other assistance as a program feature and makes various housekeeping and conforming amendments. The act is effective July 1, 2013.

In 1979, the state Legislature authorized the Hawaii Housing Authority to fund the mortgage loan program to assist low- and moderate-income homebuyers. Since then, the Legislature has authorized the issuance of revenue bonds in an aggregate principal amount of $2.2 billion to fund this program. As of June 30, 2012, $1.8 billion in single family mortgage purchase revenue bonds have been issued, providing eligible first-time homebuyers with mortgage loans at below market interest rates. Also since then, the Hula Mae Single Family Program has helped more than 10,000 families purchase first homes.

The Hawaii Housing Finance and Development Corporation now administers the program. Homebuyers apply directly with participating lending institutions, which review eligibility and qualifications for a Hula Mae loan. Loans currently made under the program are securitized by the Federal National Mortgage Association, the Government National Mortgage Association, or the Federal Home Loan Mortgage Corporation.

Homeownership Month
Held in conjunction with National Homeownership Month, Homeownership Month in Hawaii highlights the personal and societal benefits of owning a home, as well as recognizes public, private and non-profit partners that contribute to providing homeownership opportunities and ensuring long-term viability of homeownership for island families.

These agencies and entities in Hawaii include the Hawaii Housing Finance and Development Corporation; Department of Hawaiian Home Lands; the U.S. Department of Housing and Urban Development; the Hawaii Association of Realtors; the Land Use Research Foundation representing housing developers throughout the state; financial institutions; and non-profits such as the Hawaii HomeOwnership Center, Hawaiian Community Assets, Legal Aid Society of Hawaii, Consumer Credit Counseling Service of Hawaii, Habitat for Humanity, and Self-Help Housing Corporation of Hawaii.

Fireworks Crown Queens’ Marketplace’s ‘Family Fourth’

Queens’ MarketPlace is where the Big Island wants to be on the 4th of July, when folks of all ages come out to play, shop, enjoy good food and great music all afternoon and evening—capped off with spectacular fireworks over Waikoloa Bowl. 

Queens Shop in Waikoloa

In the Coronation Pavilion five of the island’s favorite bands take the stage starting at 12:30pm (see below).  Free cotton candy, popcorn, face painting, balloon sculpting and other festivities offer non-stop fun from 1-5 p.m. For the keiki and the young at heart, there are carnival games (25 cents) and Zoo Choo train rides ($2), with all proceeds benefitting Special Olympics West Hawaii.

When the sun starts to set, Waikoloa Bowl starts rocking with the exciting sounds of Vizion 20/20 and Bump City, leading into the fireworks extravaganza at 8 p.m.  After the fireworks, kick back and relax with “Full Circle” at the Coronation Pavilion.

Admission is free, and families are invited to come early, beat the crowd, enjoy the day and cap off the “Family Fourth” with a bang.  Beach mats or chairs are welcome for open lawn seating, however coolers, alcoholic beverages and smoking are not permitted.  Waikoloa Beach Resort would like to thank the Hawaii County Fire Department for co-sponsoring the community fireworks display. For more information visit www.QueensMarketPlace.net or call 886-8822. 

July 4 Schedule of Events at Queens’ MarketPlace and Waikoloa Bowl:

  • 12:30-1:45 p.m.  Music by Salsa Latinos at the Coronation Pavilion
  • 1-5 p.m.  Zoo Choo train rides, balloon sculpting, carnival games, face-painting, popcorn, and cotton candy.    (Carnival games are 25 cents, and Zoo Choo rides are $2, all benefitting Special Olympics West Hawaii.)
  • 2-2:45 p.m.  Music by Vizion 20/20 at the Coronation Pavilion
  • 3-3:45 p.m.  Music by Life in Pursuit at the Coronation Pavilion
  • 4-4:45 p.m.  Music by I’land Boiz at the Coronation Pavilion
  • 5 p.m.  Gates open to Waikoloa Bowl
  • 5-5:45 p.m.  Music by Bobby G and the Generous Theives at the Coronation Pavilion
  • 5:15-8 p.m.  Music by Vizion 20/20 and Bump City in Waikoloa Bowl
  • 8:00 p.m.  FIREWORKS SHOW
  • 8:30-9:30 p.m. Music by Terry Secor and Full Circle at the Coronation Pavilion

For more information visit www.QueensMarketPlace.net or call 886-8822.