Helping teachers land homes By Cameron Miculka West Hawaii Today cmiculka@westhawaiitoday.com | Tuesday, May 7, 2019, 12:05 a.m.
KAILUA-KONA — In a state where just 51 percent of its public school teachers are still teaching five years after being hired, a California company is hoping to give teachers a little more security by helping them become homeowners through a partnership with the Hawaii Executive Conference and Hawaii Community Foundation. Landed, which started a little over three years ago in the San Francisco Bay Area, helps educators in communities across the country by matching up to half of a down payment on a home. In the last year, the company expanded to other markets including Seattle, Denver and Southern California, said Ian Magruder, director of partnerships. In the last couple years, Landed has helped more than 200 families purchase homes, equating to more than $100 million worth of home investments. “So we’ve been able to reach some scale, but we’re just really getting started in some ways,” Magruder said. The Hawaii Executive Conference announced the partnership last week. A statement following the launch said the effort is the result of the Hawaii Executive Conference adopting the Hawaii Community Foundation’s CHANGE Framework, aimed at encouraging collaboration to tackle the state’s most pressing issues. Hawaii, Magruder said, marks the company’s first statewide launch, where they’ll be covering all public schools — including charter schools chartered with the Hawaii Department of Education — and Kamehameha Schools. The state’s school officials welcomed the launch. “It is exciting to see leaders across the state coming together to work with the department on enhancing our recruitment and retention efforts by providing these types of resources,” said Hawaii Department of Education Superintendent Christina Kishimoto. “It is a testament to what can be done when businesses rally around our students and educators and offer solutions.” The funds from Landed provide up to half of the down payment on a home in exchange for part of the rise or fall in the home’s long-term value. If the homeowner sells within the next 30 years, they’re responsible for paying back Landed’s initial down payment plus or minus 25 percent of the home’s appreciation or depreciation.