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Posted: Mar 6, 2024

Hunt Capital Partners and CVS Health Invest in Affordable Housing in Hawai'i

Hunt Capital Partners and CVS Health Invest in Affordable Housing in Hawai'i

In collaboration with Urban Housing Communities, Ikaika 'Ohana, and Hunt Capital Partners, CVS Health invested $17.5 million to help build 200 new affordable housing units at Kaiāulu o Kūkuia in Lahaina, Maui. The development will bring critically needed affordable housing for families in the area, much of which was devastated by the 2023 Maui wildfires. Ikaika 'Ohana, co-developer and Hawai'i-based nonprofit, will be coordinating services to residents including immunizations and health screenings, childcare, GED and ESL classes, occupational certification courses, resume preparation and job referrals, and financial counseling. In addition, the Bezos Academy will be operating a Montessori preschool onsite free of charge for the pre-school aged children living at Kaiāulu o Kūkuia. 

"Hunt Capital Partners is proud to be part of the rebuilding of Lahaina. The affordable rental homes at Kaiāulu o Kūkuia will be the first permanent housing to be delivered in Lahaina since the devastating fires in August," shared Steve Colón, Executive Vice President of Hunt Companies. "Our partners UHC and Ikaika 'Ohana are delivering a critically needed rental housing community that will enable 200 area families to move into homes starting coming December." Colón continued, "All of us at Hunt are grateful to have collaborated with the community and organizations like UHC and Ikaika 'Ohana as we create affordable housing for local families statewide, but particularly now on Maui, which needs so much of our support. With this investment, CVS Health is changing lives and helping to put island residents into their own homes."

The integration of early childcare facilities into the development aligns with the state's universal access to preschool initiative, Ready Keiki, spearheaded by Lt. Gov. Sylvia Luke. "Partnerships, such as the collaboration with CVS Health, play a pivotal role in fostering nurturing communities, where families receive comprehensive support, and our children are provided with the environment to thrive and realize their full potential," said Luke. "As we work to ensure all Hawaiʻi children are ready for kindergarten and beyond, the support from CVS Health and community partners is invaluable."

With the addition of Kaiāulu o Kūku'ia and Parkway Village, CVS Health has invested $62.2 million in affordable housing across Hawai'i to date, highlighting the company's efforts to advance health equity by addressing social determinants of health at the local level. Through these investments, CVS Health has provided historically underserved Hawai'i communities with quality housing and increased access to childcare and health care services based on the unique needs of each local population.

Beyond its affordable housing investments, CVS Health's commitment to improving the health and wellbeing of Hawai'i residents can be seen through its philanthropic efforts, workforce initiatives and expanded retail presence in the region.

Residents of Kaiāulu o Kūku'ia will have access to educational opportunities and employment services and training through two new career skills labs in Kahului. Funded in collaboration with CVS Health and the University of Hawai'i Maui College and Hawai'i Job Corps, respectively, the mock Longs Drugs pharmacy environments offer virtual and hands-on pharmacy technician skills training to help reduce employment barriers and provide the tools participants need to succeed in the workplace.

And recently, CVS Health opened a new Longs Drugs store in Kapolei on O'ahu, marking the company's 60th Longs Drugs location in Hawai'i. Given the significance of local relationship to Lahaina residents, financing a new affordable housing investment after the wildfires reinforces the importance of Longs as an anchor in the community. Following the 2023 Maui wildfires, the area pharmacy team provided daily deliveries to three community shelters to help ensure continued access to medication and hosted a three-week drive-thru donation clinic to provide preventative care and essential goods to residents while working to reopen the impacted store for the community as quickly as possible.

"These investments and collaborations echo our longstanding commitment to supporting and uplifting the people of Hawai'i," said Scott Sutton, Regional Director, CVS Health. "We're providing community members with access to meaningful affordable housing, health care, and educational and workforce opportunities to ensure that they have the resources they need to improve their overall wellbeing."