Calderas is accused of shooting and killing Guadalupe Molina Jr. around 1:30am Sunday at a home on Thornwall at Lumberdale.
Investigators say Calderas and Molina got into an argument during the party, and it spilled out into the street.
According to police, Calderas pulled out a gun and fired several shots into the air. He then pointed the gun at Molina and shot him in the chest, officials said.
Molina collapsed in the street. He was rushed to Spring Branch Hospital where he later died.
Calderas fled the scene on foot, leaving his car behind.
Anyone who has any information is urged to call the Houston Police Department at 713-308-3600 or Crime Stoppers at 713-222-TIPS. All tipsters remain anonymous and could be eligible for a cash reward.