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Kaulu by Gentry Announced

Hawaii New Homes Report | April 2023 Edition

By REAL. Updated Jun 07, 2023. | Hawaii New Homes Reports | 6 min. read
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  2. UpdatesJump
  3. Coming SoonJump
  4. RumorsJump

April seemed like a quiet month for new construction, but a few significant events happened. Kuilei Place's deadline for affordable housing applications passed and those who submitted their application are now anxiously waiting for the lottery. Secondly, Nahele at Hoopili launched their second round of condos. Last but not least, Gentry Homes, a reputable developer who's built over 14,000 homes in Hawaii, announced their newest project in Kalaleloa named Kaulu. Before we share more about Kaulu by Gentry, here's a few tidbits about Hawaii's new development market or if you're interested in the overall real estate market in Hawaii, you can also check out our Hawaii Housing Market Report that covers resale data for Oahu, Maui, Kauai, and the Big Island of Hawaii.

As mentioned last month, we follow the residential building permit metric to get a better understanding of the potential amount of allowed construction by the State of Hawaii to build new residential homes. Data is provided by DBEDT and there is generally a 2 month lag. In March of 2023, the monthly residential building permit value nearly doubled from $89.4M in February to $161.9M in March. The 12 month moving average slightly decreased by about $6M to $135.3M.

While there are many new projects on the horizon, some real estate developers are waiting for the market to change or for the State of Hawaii to loosen building regulations. There has been a lot talk about Affordable Housing and an emergency proclamation from the Governor could be the catalyst for a slew of new releases.

Featured

Kaulu by Gentry

Gentry Homes has been building out Ewa by Gentry, a master-planned community in Ewa Beach, for over 30 years and Makamae by Gentry was the last planned development for that community. Looking towards the future, Gentry announced their plans for a new project in Kalaeloa, a master-planned community next to Kapolei. Their first project named Kaulu (the name was inspired by the ulu tree) will open its model homes this fall. Check out the clip below.

An episode of Living808 with Gentry Homes sharing their vision.

Kaulu by Gentry will be a pedestrian-friendly community with roughly 30 acres. From the 390 homes that it'll include, there will be 49 sales phases in 8 increments. The condominium properties will come with 2 design styles, Plantation and Craftsman, and will be built under a joint development agreement. All units will be owner-occupied.

Kaulu will have phases releases in 8 increments.
Kaulu will have phases releases in 8 increments.
A rendering showing what Kaulu will look like.
A rendering showing what Kaulu will look like.
Site development for Kaulu in Kalaeloa.
Site development for Kaulu in Kalaeloa.

Kanalani at Hoopili

At first glance, Kanalani at Hoopili appears to have a more traditional home design with neutral colors. While Kanalani will have a total of 6 different floor plans, only 4 have been released including Canoe (Plan 2), Spice (Plan 4), Grove (Plan 5), and Orchard (Plan 6 and 6a). The living area will range from 1,219 to 1,996 sqft. You can see a preview of a few of these designs below.

Canoe floor plan.
Canoe floor plan.
Orchard floor plan.
Orchard floor plan.

Pricing and a sales release date has not been issued yet, but we expect some demand for these units. For more information and to get on the waiting list for Kanalani at Hoopili, please submit your interest in the form below.

Updates

40% of inventory remains.
1 bed, 1 to 1.5 bath - $920k to $1.75M
2 bed, 2 to 2.5 bath - $1.4M to $2.8M
3 bed, 3 to 3.5 bath - $2.3M to $5.5M
Condos are no longer restricted to owner-occupants. It's open to everyone.
4 C are available. Ranging from $794,994 to $796,314.
Credits of $4k are offered for all homes.
9 A & B models are available priced from $944,144 to $989,374.
Credits of $4k are offered for all homes.
59 Studios - Starting at $270,000
1 One Bedrooms - Starting at $360,000
13 Two Bedrooms - Starting at $398,000
DPP Requirements Apply
The original 30 years "affordable housing"
classification has been reduced to appealed.
It is now 10 years for The Flats Palm Units
1 Studio - $658,900
One Bedroom units facing ocean - $1,061,900 and up
Two Bedroom units starting at $1,007,900
Select units now include a free storage space
Studios starting at $749k
One Bedroom condos starting at $855,000
Most of these condos are on high floors with views of Victoria Ward Park.
Studios - Starting at $706k
One Bedroom - Starting at $949k
Two Bedroom - $1,832,000
Three Bedroom - Starting at $2.101M
Non-restricted units remain ranging from $1.2M to $5.4M
10 studios ranging from $326k to $337k. The highest floor available is the 28th.
HCDA Requirements Apply
Construction has started at Ulana.
1- and 2-bedrooms (Affordable Housing) - One bedroom units start at $477,900 and two-bedroom units at $624,100
Two Bedrooms (Market-rate) - Starting at $797,500
HHFDC Requirements for the one bedrooms only
6 Three Bedroom units - Starting at $1,011,800
5 Four Bedroom units - Starting at $1,270,000
7 of 24 lots of land remain available.
Launched in early February.

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DISCLAIMER

Real Estate And Living Hawaii is committed to providing the most up-to-date information about real estate developments in Hawaii. Information about projects, collected on May 8, 2023, including pricing, inventory, and floor plans, often change without notice. Information is deemed reliable but not guaranteed.

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