What Ahe Group does

Ahe Group is a Kailua, Hawaii-based private developer of affordable housing communities, operating under President & Managing Director Makani Maeva since 1995. The company develops, acquires, rehabilitates, and owns multi-family, senior (62+), and workforce housing properties serving residents earning between 30% and 100% of Area Median Income (AMI), with rents capped at approximately 30% of tenant income and the gap covered by federal subsidies including Low Income Housing Tax Credits (LIHTC) and Section 8 contracts. Properties are concentrated on three Hawaiian islands — Oahu, Kauai, and Hawaii Island — and span more than 20 sites including Banyan Street Manor, Hausten Gardens, Waipahu Towers, Smith-Beretania, Queen Emma, River Pauahi, Kolopua, Pua Loke, Lokahi Ka'u, and Waimea Huaka'i. Several assets carry long-duration affordability covenants ranging from 45 to more than 60 years (with D.E. Thompson Village locked through 2083), reflecting the subsidized, covenant-driven nature of the business.

The underlying 'technology' is physical rather than digital: Ahe Group was the first developer in Hawaii to achieve LEED Certified Platinum for affordable housing, and all Hawaii projects integrate photovoltaic and/or solar water heating systems, energy-efficient appliances, and resource-efficient fixtures. The firm pursues a vertically integrated development model — acquisition, rehabilitation, new construction, ownership — while outsourcing day-to-day property management to specialized third-party firms (EAH Housing, Mark Development, Indigo Real Estate Services, Cambridge Management). GTM is primarily inbound via the company website (ahegroup.com), with distribution through property management partners that handle tenant screening and lease-up against AMI eligibility criteria. Supporting revenue streams include developer fees, rental income from the owned stabilized portfolio, and (in some cases) on-site social services via the Holomua resident services program, which is funded in part by corporate sponsors such as Costco, Aloha Harvest, and Hawaiian Community Assets.

The company's growth is driven by ongoing project pipeline activity (e.g., Lima Ola under construction on Kauai; D.E. Thompson Village completed Q3 2023; Pua Loke completed Q3 2021; Jack Hall Waipahu acquired 2021), expanded LEED Platinum execution, and recognition from state and federal officials including Hawaii Governor David Ige, Senator Brian Schatz, Senator Mazie Hirono, and Congresswoman Tulsi Gabbard, alongside industry awards such as the 2012 Charles L. Edson Tax Credits Excellence Award. Since 2014, Ahe Group has overseen more than $56 million in new construction and rehabilitation for affordable housing across the state.

Name

Ahe Group

Legal name

AHE Group

Website

https://www.ahegroup.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Āhē Group is a Kailua, Hawaii-based private affordable housing developer that acquires, rehabilitates, builds, and owns multi-family, senior, and workforce rental housing serving low- and moderate-income residents (30%–100% AMI) across Oahu, Kauai, and Hawaii Island, with rents capped at 30% of income under LIHTC and Section 8 subsidies.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Residential Property Managers (531311), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Services for the Elderly and Persons with Disabilities (62412)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industry

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

Keywords

• Affordable housing development
• Multi-family housing
• Senior housing
• Workforce housing
• LEED certified properties

Headquarters

HQ city

Kailua

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Distribution channels2 records

Marketing channels3 records

Core offering

Āhē Group develops, acquires, rehabilitates, and owns affordable rental housing communities across Hawaii, including multi-family, senior, and workforce housing units reserved for residents earning 30%–100% of Area Median Income. The company finances projects primarily through Low-Income Housing Tax Credits (LIHTC) and government subsidies, ensuring long-term (45–61+ year) affordability. It also operates the Holomua resident services program, providing community-building, civic engagement, household stability, and health/wellness services to residents.

Product overview

Ahe Group is one of Hawaii's leaders in affordable housing development, offering a portfolio of residential properties across three main categories: multi-family housing, senior housing, and workforce housing units. The company operates through acquisition and rehabilitation of existing properties as well as new construction. Key product lines include LEED Platinum certified affordable housing properties (notably Kolopua and Pua Loke), senior housing communities like Hausten Gardens and Whitmore Circle, and multifamily developments such as Banyan Street Manor and Waipahu Towers. Since 2014, the company has overseen more than $56 million in new construction and rehabilitation. The portfolio includes the Holomua resident services program which provides community support across all properties. Properties are located across Oahu, Kauai, and Hawaii Island, with units serving residents at various AMI levels (30% to 100%).

Differentiator

Problem solved

Functional benefit

Products and services

• Waimea Huaka'i Newly constructed 35-unit affordable housing community in Waimea, Kauai for residents earning 30%–60% of AMI, offering community room, common laundry, and parking, with affordability preserved for at least 61 years.
• Pua Loke (Hā'upu View) 54-unit new construction multifamily affordable housing project in Lihue, Kauai with LEED Platinum certification, offering 15 one-bedroom, 24 two-bedroom, and 15 three-bedroom units for residents at or below 60% AMI (with select 100% AMI units for families experiencing homelessness), and including a community center with on-site social services.
• DE Thompson Village Senior affordable rental property in historic 'Ewa (Ewa Beach) acquired and rehabilitated with new flooring, cabinetry, and resource-efficient appliances and fixtures, with affordability preserved until at least 2083.
• Hausten Gardens 50-unit senior affordable rental community in an 8-story building in Moiliili, Honolulu, with all units preserved for qualified senior residents at 60% or less AMI, featuring a community room, elevator, security system, and garden boxes following a $3 million renovation.
• Banyan Street Manor 55-unit multi-family affordable community in Honolulu offering 12 one-bedroom and 43 two-bedroom units, featuring solar hot water heaters, photovoltaic panels, and a living wall following a $2.6 million renovation investment.
• Waipahu Towers Multi-family affordable community in Waipahu featuring solar hot water heaters and a 75kW photovoltaic system, supported by over $6.2 million in renovations ($96,800 per unit).
• Kolopua LEED-H Platinum Certified affordable housing property in Princeville, Kauai, featuring energy-efficient appliances and lighting and built in compliance with Sustainable Site and High Density requirements.
• Smith-Beretania Apartments 164-unit affordable residential community in a 23-story building in downtown Honolulu with 82 one-bedroom and 82 two-bedroom units serving individuals and families at 50% AMI and below, with affordability preserved for 61 years.
• River Pauahi Apartments 49-unit multifamily rental community in Chinatown, Honolulu for residents earning 60% or less AMI, supported by a Section 8 contract ensuring tenants pay no more than 30% of income through 2037, with $3 million invested in renovations.
• Queen Emma Apartments 71-unit affordable rental adaptive re-use community in downtown Honolulu offering 26 two-bedroom, 13 one-bedroom, and 31 studio units, originally built in 1964 and completely rebuilt using modern construction, with affordability preserved for 61 years.
• Holomua Resident Services Program Resident services program offering free quarterly events and services to Āhē Group residents across four cornerstones: community building, civic engagement and education, household stability, and preventative health and wellness, supported by corporate sponsors.

Quantifiable outcome

• $56+ million in new construction and rehabilitation for affordable housing since 2014
• +5 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• EAH HousingcoreChannel Partner/ Reseller/ DistributorThird-party property management company managing multiple Ahe Group properties including Kaniko'o (Rice Camp) I & II, Kekaha Plantation Elderly, Kolopua, Waimea Huaka'i, and Pua Loke. Handles day-to-day operations, leasing, and resident management for these properties.
• Mark DevelopmentcoreChannel Partner/ Reseller/ DistributorThird-party property management company managing Ahe Group properties including Whitmore Circle, Waipahu Tower, and Kekuilani Gardens on Oahu and Kauai.
• Indigo Real Estate ServicescoreChannel Partner/ Reseller/ DistributorThird-party property management company managing Banyan Street Manor, Hausten Gardens, and Lokahi properties for Ahe Group.
• Cambridge Management, Inc.coreChannel Partner/ Reseller/ DistributorThird-party property management company managing Kaneohe Elderly and Queen Emma properties for Ahe Group.
• Holomua Corporate SponsorsminorGTM or Marketing PartnerCorporate sponsors supporting the Holomua resident services program: Aloha Harvest, American Floor and Home, Costco, BFSS, Hawaiian Community Assets, Hawaii Literacy, and Prosource Wholesale. Sponsors enable free quarterly events and services for Ahe Group residents.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• EAH Housing: California-based nonprofit affordable housing developer and property manager with operations in Hawaii. Directly comparable to Ahe Group in mission, LIHTC-financed affordable rental portfolio, and senior/multifamily focus; EAH Housing is also an active property management partner managing multiple Ahe Group assets.
• BRIDGE Housing Corporation: Pacific-region nonprofit developer of LIHTC-financed affordable rental housing including multifamily and senior communities. Directly comparable on business model (acquire, develop, own affordable rental) and LIHTC financing expertise.
• Mercy Housing: National nonprofit affordable housing developer with multifamily, senior, and supportive housing portfolios financed via LIHTC. Highly comparable to Ahe Group on affordable housing development, senior/mixed-income communities, and resident services programming.
• L+M Development Partners: For-profit affordable and mixed-income housing developer using LIHTC and other subsidy programs to develop multifamily and senior rental housing. Comparable on development-focused, LIHTC-driven affordable rental model.
• Aeon: Mid-sized nonprofit affordable housing developer/owner using LIHTC to deliver multifamily and supportive rental housing. Comparable on affordable development model, resident services integration, and similar team scale.
• National Housing Trust: National nonprofit that develops and preserves affordable rental housing, including LIHTC-financed multifamily and senior properties. Comparable on affordable rental development with similar financing and operating profile.

Broad incumbents

• WinnCompanies: Large diversified developer and property manager with significant affordable housing portfolio alongside market-rate multifamily. Comparable on affordable rental ownership and management, with broader scale and geographic reach than Ahe Group.
• The Related Companies: National real estate firm with a sizable affordable housing arm (Related Affordable) developing LIHTC-financed multifamily and senior rental communities. Comparable on affordable housing development at much greater scale and broader portfolio.
• Enterprise Community Partners: National nonprofit developer, investor, and policy advocate in affordable housing. Operates LIHTC equity programs and develops affordable rental communities; comparable on the affordable development and LIHTC ecosystem side, but at much larger scale.

Others

• Hawaii Housing Finance and Development Corporation: State government agency that administers LIHTC allocations, affordable housing financing, and rental assistance programs in Hawaii. Functions as a key counterparty and regulator for Ahe Group's developments rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ahe Group