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Kapiolani Residence: Everything you need to know

With all the new construction projects going on in Kakaako and urban Honolulu, developers are realizing there is a real need, and demand, for moderately priced housing. The HCDA does a great job ensuring that at least 20% of the housing built in the Kakaako neighborhood is allocated toward reserve housing units, and recent sales at Ke Kilohana prove that there is so much more demand then there is supply. Kapiolani Residence will hopefully ease some of that demand by providing 292 affordable housing units in the Ala Moana neighborhood. The project being developed by Sam Koo Pacific, a well-known developer from South Korea, will be located at 1631 Kapiolani Boulevard featuring a 45-story mixed use residential tower with commercial space on the ground floor.

Kapiolani ResidenceKapiolani Residence will have approximately 292 affordable housing units including 53 studio units, 107 one-bedroom units, 105 two-bedroom units, and 27 three-bedroom units. The affordable housing units will be reserved for residents of Hawaii making less than 120% of the AMI or area median income.

Kapiolani Residence

 

Along with the 292 affordable housing units, 193 moderately priced market rate units will be made available for sale. 35 studio units, 69 one-bedroom units, 72 two-bedroom units, and 17 three-bedroom units will be offered. The breakdown for unit size, number of units on each floor, approximate interior square feet, estimated price ranges, and number of both affordable and market units available in the building is listed below.

There are restrictions with the reserve housing units which include a 10-year term where the HHFDC (Hawaii Housing Finance and Development Corporation) has the first right of refusal for a buy back on the unit. There will also be a shared equity component when reselling the unit down the road. Details about the specifics on the shared equity will be made available at a later date and possibly through an informational seminar by the project broker. Kapiolani Residence

Ke Kilohana, a reserve housing project in Kakaako with similar buyer restrictions, recently had 900 applications submitted for 375 units. Over 500 people went on the waiting list and it’s likely most of the applicants who were unsuccessful at Ke Kilohana will try their luck once more with this project.  Projects like Kapiolani Residence and Ke Kilohana offer local residents an opportunity to live in Oahu’s urban core for prices below market value.

If you would like to receive updates regarding Kapiolani Residence, please let me know by filling out our form below. Although it is too late to enter the lottery for this building, please fill out the form below to be put on our list of interested buyers for future reserve housing and affordable housing projects in the area.

Update – October 5, 2016

Market rate release is right around the corner! Read our most recent post about the market unit release here.

Kapiolani Residence Reserve List

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LIfestyle News Stories

Kakaako Named One of the Best Neighborhoods in America

Trulia, the mammoth real estate search website, recently named Kakaako one of the best neighborhoods in America. The study was completed by population size and demographics of a certain area, with the Kakaako – Ala Moana neighborhood topping the “neighborhoods with the best amenities” in a small city list. The ranking metrics were based on restaurants, beauty establishments, nightlife, trails, playgrounds, pediatricians, childcare, and percentage of quiet streets per square mile. Categorizing the Kakaako – Ala Moana area as a “small city” meant that it had to have fewer than one million people.

The Kakaako – Ala Moana neighborhood also ranked second for “neighborhoods with the best amenities for families” which used similar metrics for calculation.

If you’ve ever visited or driven by Kolowalu Park, the park at the corner of Queen street and Waimanu street behind Koolani, at anytime during the day, it’s apparent there are a lot of families that already live in the Kakaako neighborhood. Families wanting the convenience and comfort of condo living are overlooking the suburbs and willingly settling in Oahu’s urban core.

So what does this all mean? I think the article shows that Kakaako isn’t just going to be great when all these developers finish what they’re doing, or when all these amazing new restaurants open up shop, or when all of the new stores, boutiques, and coffee shops open in the area. What it shows is that Kakaako is great right now, even in the midst of all this construction, road closures, sewer rehabilitation and all, Kakaako is an amazing place to call home. Kakaako truly is one of the best neighborhoods in Honolulu and beyond.

Read more about Trulia’s report here and see what other cities made the list!

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Condos Real Estate Stories

A cozy one-bedroom in Keola Lai

Convenience is key for most that are looking at calling Kakaako home. Inside this cozy one-bedroom unit at Keola Lai you will find views soaring towards downtown Honolulu, west Oahu, and Oahu’s south shore.  Keola Lai spans 43 stories and has a total of 352 units in the building.

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Unit 1410 is a one-bedroom and one-bath unit with one parking. It’s a total of 673 square feet which, for Kakaako’s standards, is pretty big. This unit has central AC and mostly carpet flooring with tile in the kitchen and bathroom. Stainless steel appliances come with the unit and for those of you who would rather be doing anything else besides washing dishes, a dishwasher is included!

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Some of the amazing features of this building, beyond all the great amenities, is its close proximity to downtown Honolulu and the fact that it has 25 guest stalls. Along with great locations and ample parking for all your guests you have access to a heated pool, Jacuzzi, gas BBQs, fitness center, and party and recreation pavilion. Storage for your bikes and surfboards are also available.

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Dogs are allowed in this pet friendly building (up to 35lbs) with water, sewer, cable tv, and internet included in its relatively affordable maintenance fee.

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Just around the corner you have SALT which is Kamehameha School’s brand new commercial development which will feature some amazing local boutiques and restaurants. So if you’re too lazy to get in your car and drive somewhere on a Friday night, take Kakaako by foot and explore everything the neighborhood has to offer.

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This unit is listed at $540,000 fee simple. For more information or to set up a showing please fill out our interest list below or email me at Holden@Kakaako.com.

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Explore Howard Hughes Real Estate Stories Ward Village

Ae’o: Owner-occupant lottery starts this Saturday

Ae’o, one of Howard Hughes’ latest condominium developments, will start sales for owner-occupants units this coming Saturday 1.18.15. Howard Hughes, the Dallas based developer, has seen great success thus far with Waiea and Anaha very close to 100% sold. Gateway which is another condominium development by Howard Hughes,  recently started sales too though the price point for the project is two to three times that of Ae’o. The selling point behind Ae’o is there relatively affordable priced units compared to that of Waiea and Anaha, both of which are less than a few hundred feet away. Imagine moving in to Kahala or Diamond Head for Kaimuki prices.

There seems to be a lot of buzz around Ae’o and I can see sales going really well for Howard Hughes. Pricing for studios will start at $410,000, one-bedrooms starting at $573,000, two-bedrooms starting at $860,000, and three-bedrooms starting at $1,390,000.  A brand new flagship Whole Foods Market will be located on the ground floor, Ala Moana beach park is just a few minutes walk away, and a brand new elevated rail system is just a few minutes walk down the road. Ae’o offers convenience and luxury in an affordable price range. Read more about the project here.

The lottery will take place this Saturday so all buyers must enter no later than Friday at midnight. Please contact me for floor plans and more information about how to enter the lottery.

I’ve worked closely with Howard Hughes as well as other developers in the Kakaako neighborhood and understand the sales process very well. I’ve sold in everything from Keauhou Place to The Collection and even Vida at 888 Ala Moana. I work hard to get you what you want so that you don’t have to. Give me a call today or email me to set up an appointment or showing. Mahalo! Holden@Kakaako.com or (808)387-3366.

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Neighboring News: Park Lane at Ala Moana

If luxury and location are paramount for you and price is but a number, look no further than Park Lane at Ala Moana. Where else can you find expansive oceans views from the comfort of your living room while being just steps away from the world-class Ala Moana Center? Park Lane truly offers the best of both worlds.

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The project features seven unique eight-story buildings all with 10-story ceilings and expansive outdoor lanais for true island living.  The amenities were conceived with the idea of never having to leave home, or at least that’s what I was thinking when I first took the tour. Men’s and women’s spa areas featuring saunas, steam rooms, and private lockers, outdoor whirlpool and spa, 25′ x 75′ lap pool, three private suites, and private massage and treatments rooms are just a few of the amenities on the list.

Each residence, inspired by the single-family home design, includes custom wide-plank engineered hardwood floors, architectural lighting designs, Sub-Zero refrigerator, freezer and wine storage, Wolf oven, cooktop, hood and microwave, and the list goes on and on. Email me for a full list of features and amenities.

The open-air lanais average 300 square-feet featuring natural stone flooring, a seamless transition from indoor wood flooring to outside stone floor, and my favorite feature of all, the built-in and mechanically vented gas barbeque by Wolf. This is a feature unique to Park Lane, as no other condo in the Ala Moana/Kakaako area features gas grills on the lanais of their residences.

On the back of the project is something very unique to the project called The Park Lane. The Park Lane is a private walkway that connects all seven buildings through an elevated walkway away from the hustle and bustle of Ala Moana Center. It will feature palm trees, sculptures, lotus ponds, decorative stone paving, and so much more. Think of it as an outdoor escape footsteps from your front door.

If this project is of interest to you I encourage you to contact me as soon as possible. The last time I was there they were already 65 percent sold. There are many other projects in the Kakaako area to consider as well and I would be happy to give you all the details on  the ever-changing Kakaako and Ala Moana real estate landscape. Contact me for more information on Park Lane or if you haven’t made up your mind on which project is best for you — I would be happy to set up an appointment to give you the full overview of everything available. Email me at Holden@Kakaako.com.

 

Explore Howard Hughes News Real Estate Stories Ward Village

The Gateway at Ward Village

With more and more condos on the rise in the Kakaako neighborhood, developers are constantly trying to differentiate their projects from other buildings. In the case of Howard Hughes, they must differentiate each of their condos with unique selling points and amenities. Whether it be through a prime location like Park Lane, seemingly endless amenities in Waiea, or maybe it’s competitive pricing while not comprising luxury as is the case with Vida. Next on the horizon is Howard Hughes’ latest proposed condominum tower, The Gateway, designed by world-renowned architect Richard Meier.

Situated on the Ward Warehouse block in Ward Village, The Gateway will consist of an Ewa tower and a Diamond Head tower. Located between the two towers will be a nearly one-acre central plaza designed by Richard Meier, the famous architect behind The Getty Center. The plaza will feature pedestrian walkways, native plants, water features, and passage from the heart of Kewalo basin to the center of Ward Village. The Gateway at Ward Village

A few of the notable amenities beyond your typical luxury condominium include a wine tasting room and cellar, pet spa, veranda bar and four luxury guest suites so your friends from out of town can enjoy Kakaako from the luxury of their own suite.

All of the residences at The Gateway will feature 10-foot ceilings, Gaggeneau appliances, wine refrigerators, motorized window shades, and much more. I was able to get a private tour of the model unit on the first day of sales and Howard Hughes has really outdone themselves with the finishes.

“Overall wellness, health and balance can be seen in every design element in Gateway, from the private yoga rooms and ocean view fitness centers to the sprawling public living rooms and infinity-edged lounge pools,” per the developer.

With all of the luxury condominiums on offer in the Kakaako area today, there is a condo for every buyer. Howard Hughes has certainly outdone themselves with this project and the awe-inspiring design by world-renowned architect Richard Meier is a sight to be seen. If this project interests you or if you’e curious about what other projects are available in the Kakaako area, please contact me at Holden@Kakaako.com.

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Moana Pacific – 1 bed / 1 bath $520,000

Moana Pacific has been gracing the skyline of Kakaako since 2007 when construction was completed. Just recently listed was a one bedroom one bath unit on the 10th floor. With over 700 square feet of living area, it represents one of the larger one bedroom floor plans available in the Kakaako neighborhood.  The unit features a Sub-Zero refrigerator, Bosch dishwasher, granite counter tops and custom cabinetry.  The unit was also recently repainted and has brand new carpet.bed

One of the greatest features of Moana Pacific living is its wide range of amenities which include a movie theatre, tennis courts, pool, spa, putting greens and so much more.

If cooking isn’t your strong suit and don’t like to venture too far for a meal, you can walk downstairs to Stage Restaurant or Café for contemporary Asian-American cuisine. AMUSE wine bar is also an option and is always a great place to meet up with friends.

Listed at $520,000 it is one of the lowest priced listings in the entire Kakaako neighborhood and a good deal in my book.

Thinking about purchasing in Kakaako but don’t know where to start? Give me a call or email me and I would be happy to walk you through the Kakaako real estate landscape, highlighting all the different buildings and their amenities. If you would like to set up a private showing for this unit or any other listing in the Kakaako neighborhood contact me and I would be happy to arrange that for you.

Thank you!

 

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803 Waimanu – What you need to know

Good news for those looking to buy or invest in the dynamic and fast-growing neighborhood of Kakaako – the condominium project at 803 Waimanu St. is moving forward. The project is being developed by California-based MJF Development Corp. and will feature a seven-story condominium including 153 market-rate units. Buyers can expect to see studio, one- and two-bedroom units.

Construction is slated to begin later this year with an estimated completion in 2017.

If you’ve missed out on sales for Keauhou Place or timing simply wasn’t right for you this is another great option.

In addition to 803 Waimanu, MJF Development Corp. has plans to build another condominium project on a 14,400 square-foot parcel located at nearby 929 Pumehana St. called “Ohana Hale.” The project will be a 21-story, 180-unit project including affordable and workforce units. About 60 percent or 108 of the project’s units will be priced in the affordable range for households earning between 100 percent and 120 percent of the area median income for Honolulu.

Construction on Ohana Hale is also planned for later this year, and will feature studio, one- and two-bedroom units.

Starting prices for both projects have yet to be announced. If you would like more information on these condos as soon as it is released, or  information on other projects in the area, please email me at Holden@HiResidential.com.

With Keauhou Place reserve unit sales happening this weekend I’ve had a lot of interested parties contacting me trying to get their hands on a reserving housing packet. With the last packet being handed out last week most of them were simply out of luck. For 803 Waimanu I encourage you to contact me early so that I can make sure that you get a reserve packet as soon as they become available. If you let me know that you’re interested I will keep track of the sales timeline for the project so you don’t have to.

Thank you and I look forward to hearing from you!

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Kakaako // What’s Going on in the Neighborhood?

Take a drive through Kakaako and you’ll see in no time that real estate is booming in the area. With both Howard Hughes’ and Kamehameha Schools’ proposed master plans underway, condos are coming up on every other block.

Waihonua was finished at the end of 2014 with neighboring ONE Ala Moana, just a few blocks outside of the Kakaako area, completed around the same time. There are currently three condos under construction in the Kakaako neighborhood including The Collection, Waiea, and Anaha, with Park Lane, located in the nearby Ala Moana neighborhood, also under construction. Keauhou Place is the most affordable condo tower in Kakaako with sales ongoing, and will begin construction soon. Sales for owner-occupant units will start on March 20, 2015. Vida  at 888 Ala Moana is an upcoming luxury project being developed by the same group as Hokua at 1288 Ala Moana. Sales will start in a few months.

With all these new projects coming up you might be asking yourself “Where do I even start?” Arming yourself with the as much information as possible should be your first task. Learning about Kakaako’s walk score and what part of the neighborhood you want to live in should be a big part of the decision making process. If the proposed rail is something you think you will be utilizing on a daily basis, choosing a condo within a few minutes walk should be a priority. If ocean views and a short walk to your favorite coffee shop is all that matters in the world, than your decision may be easier than you think.

At the end of the day if you’re thinking about making the move to Kakaako and don’t know where to start, I hope my recent blog posts will help to guide you in the right direction. For real estate advice tailored to your specific needs, feel free to contact me at Holden@kakaako.com.

 

Explore Howard Hughes News Real Estate Stories Ward Village

Units still available at Anaha and Waiea

Anaha 1Happy New Year to all of our loyal followers!

If 2015 is the year to make the big step forward, and Kakaako is neighborhood where you want to be, then perhaps Howard Hughes can help provide you with the solution. Having started sales last year on their two luxury project Anaha and Waiea, Howard Hughes have seen sales soar. Anaha, located at 1108 Auahi street, boasts both ocean and diamond head views. The floor to ceiling windows, along with wide open floor plans, will your new home in the sky the go to spot for get togethers.

If views, views, views, are what interests you then Waiea is the perfect fit for you. Located at 1118 Ala Moana Boulevard, Waiea featured unobstructed views of the vast Pacific Ocean. Waiea offers true luxury island living with most amenities imaginable. One of the few condominiums in Kakaako that offer four bedroom units and LEED platinum certification. So while you’re sitting back poolside, sipping mojitos, you can rest assured that the environment was top of mind throughout the entire development process.

Prices for Anaha start in the mid $900,000’s and go up from there. Waiea starts in the mid $1,000,000’s for a low floor one bedroom and can go up to $6,300,000 for a three bedroom three bath unit on the 14th floor with ocean views.

If you want more information regarding either Anaha or Waiea please feel free to contact me at 808-387-3366 or Holden@kakaako.com. If Anaha and Waiea or slightly out of your price range and are interested to see what else is out there, please feel free to contact me and I would be happy to assist you.