Making something nicer often makes it less affordable. But in the case of a 42-year-old apartment complex near Aloha Stadium in Halawa, rents recently became more affordable following an $18.7 million renovation thanks to state and federal financial assistance along with a developer’s effort to preserve low-income housing.

Halawa View Apartments had been plagued by plumbing leaks, a pest problem, crumbling cabinets and broken appliances.

Now its got granite countertops, solid wood cabinets, vinyl plank flooring, new windows, a solar water heating system, modernized elevators, hallway murals, a community kitchen, a playground, a garden and a barbecue area.

What’s more, monthly rent that ranges from about $500 to $1,000 for units with two to four bedrooms was reduced for tenants, all of whom earn less than 60 percent of the median income among Honolulu residents.

Previously, 24 tenants in the 121-unit complex received rent subsidies from the federal Department of Housing and Urban Development through the city Department of Community Services so that they paid no more than one-third of their income in rent.

Now every tenant except for the manager receives the Section 8 HUD rental assistance, which in some cases means a tenant pays as little as $100 for rent, according to Joe Michael, a developer involved in acquiring and rehabilitating the property that includes a 14-story tower and a pair of three-story buildings.

Michael, along with partners in the project, showcased the results of their effort Wednesday at a celebration that included lunch for residents worthy of a luau, music from the local ’80s rock band EMKE and praise from Gov. David Ige and Mayor Kirk Caldwell.

“We do know that affordable rentals is the biggest need in our community,” Ige said. “We did walk through the apartments. They truly are beautiful. I’m so excited for the residents here.”

Caldwell said projects like Halawa View contribute to state and county efforts to address homelessness.

“We’re moving forward and making a difference,” he said. “Maybe not enough of a difference, but we’re marching, we’re climbing that mountain and we are tackling a problem that has been evolving over many, many decades and won’t be solved immediately. But we’re working on the solution and this is part of a solution.”

Sapolu Meli, a Halawa View resident, said if his late parents hadn’t moved to Halawa View he figures he would be homeless or back in Samoa.

“It’s a great home,” he said.

Meli moved to Hawaii from Samoa in 1983 with his parents and lived at the Kam IV housing project. where he said he saw “chaos” in the neighborhood that included Kuhio Park Terrace. Moving to Halawa View in 1992 was a major upgrade.

Yet Halawa View was getting run-down as time passed. It was developed in 1974 under a HUD lending program. In 1996, Michael’s grandfather, who is also named Joe Michael, bought Halawa View for $20.7 million through the nonprofit corporation Hui Noho Aloha with financing help from HUD.

THAT HUD loan, along with restrictions that require units to remain affordable to low-income tenants, was getting close to expiring, which could have allowed a developer to purchase and redevelop the property with market-rate housing similar to what was planned for Kukui Gardens near downtown Honolulu several years ago.

The younger Michael, along with his father, David Michael of California-based Pacific Development Group, partnered with the local nonprofit Hawaiian Community Development Board led by Kali Watson to purchase the apartment complex in 2014 for $3.1 million to preserve and upgrade it.

The Michael-Watson partnership, Halawa View Housing Partners LP, obtained significant financing through Hawaii Housing Finance & Development Corp., a state agency that facilitates affordable-housing development. HHFDC provided $4.9 million from a rental housing trust fund and a $1.7 million loan. The developer also received about $700,000 in federal tax credits through HHFDC, along with a HUD-insured loan from Red Capital Group and an equity investment from Alden Torch Financial.

Nearly all the interior renovation work, which was done in phases while tenants were put up in hotels, was completed in late 2014, and over the last year the exterior additions that included the garden and play equipment were finished, along with a photovoltaic system that shades parking stalls.

Tony Taylor, Halawa View’s manager for the last 17 years, said making all the improvements and continuing to serve low-income residents represents a great achievement. “I’m in awe,” he said.