The Nareit Foundation is currently accepting applications from Hawaii-based nonprofits for grants aimed at supporting affordable housing projects. The deadline for submissions is June 13th, according to the Honolulu Star-Advertiser. This initiative presents an opportunity for local organizations to secure funding for projects that aim to increase the availability of affordable housing options throughout the islands.
The Nareit Foundation, supported by contributions from Hawaii’s real estate investment trusts (REITs), focuses on backing "shovel-ready" projects that provide affordable housing for sale or rent. This year's focus underscores a commitment to addressing the pressing need for affordable housing in the state. The grants are not intended for planning purposes, emphasizing a focus on immediate impact and tangible outcomes. Kauai Now reports that applicants with projects ready to begin construction or implementation will receive priority. All applicants must complete the grant application form, which is accessible on the Nareit Hawaii website, as stated in their recent announcement.
REITs, which hold and manage income-producing real estate, historically offer competitive returns and serve as a diversifier for investment portfolios. Nareit.com highlights the role of these trusts in supporting affordable housing initiatives. The Nareit Foundation’s efforts rely heavily on its REIT members, which is vital to the success of these grant programs. The Nareit Foundation's executive director, Gladys Quinto Marrone, stated that the organization is grateful for the commitment of local nonprofits in making housing more affordable and strengthening communities. Nareit Hawaii also announced the opening of the 2025 grants for eligible non-profit organizations to apply.
For Hawaii's real estate developers, investors and local nonprofits, these grants represent a valuable opportunity to secure financial backing, support community-driven initiatives, and contribute to solutions for addressing Hawaii's affordable housing challenges. Given the current market conditions and the increasing need for affordable housing, this funding can prove to be a crucial resource to help drive positive change and further develop and support local projects. Nareit’s commitment also reflects a broader strategy of leveraging financial support to make a positive difference in the community.
