WAILUKU, Hawaii — On Friday, Maui County Mayor Michael Victorino announced the County of Maui’s acquisition of the Lahaina Crossroads Apartment building on Luakini St. was finalized.

“The deed recorded last week, right in time for Christmas,” said Mayor Victorino in a news release. “Housing stability and the peace of mind that comes with it is one of the best gifts these tenants could get this holiday season. It’s very rewarding for this acquisition to be finalized before the New Year.”

In June, long-term tenants, many of them retirees on fixed incomes, received a “notice to vacate” so renovations could be made to convert the 20-unit complex into transient vacation rentals permitted by current zoning.

In July, West Maui Councilmember Tamara Paltin introduced Resolution 112-162 to urge the Maui County Council to authorize the purchase of the complex. According to the release, the council later voted to allocate up to $11 million of the county’s Affordable Housing Fund for the acquisition. The final price was $10.98 million, including closing costs. Kokua Realty will continue to manage the property through June 30, 2023.

“Mahalo to Mayor Victorino and the entire Maui County Council for acquiring the Lahaina Crossroads Apartments,” said Councilmember Paltin. “Many of the tenants have lived in these apartments for more than 35 years and can’t afford to lose their affordably priced rent. Maui County needs more affordable housing for kamaaina than additional visitor accommodations.”

Mayor Victorino added, “I also want to thank the landowner. Despite the potential for making more money with vacation rentals, the seller prioritized people over profit, which is fitting during this season of compassion.”

Sarah Yamanaka covers events, environmental and community news for Spectrum News Hawaii. She can be reached at sarah.yamanaka@charter.com.