A New Midtown Ala Moana Tower

Hawaii New Homes Report | July 2023 Edition

By REAL. Updated Jul 02, 2024. | Hawaii New Homes Reports | 5 min. read
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July was a relatively quiet month for new project releases in Hawaii. The spotlight shifted towards Governor Green's emergency proclamation, aimed at expediting housing development delays in the state. While this seemed promising for developers, it comes with nuances. The focus is primarily on affordable housing projects, especially rentals, with a designated board overseeing approvals. Consequently, non-affordable housing projects might face prolonged timelines, and even those with affordable options could experience delays.

In this month's New Homes Report, we shine a spotlight on a new Transit-Oriented Development (TOD) project slated for review and tentative approval by the City Council on August 9, 2023. Additionally, we've learned about several project delays. So, if you've been eagerly awaiting specific developments, rest assured that new timelines have been provided. If these schedules don't align with your needs, be sure to explore our comprehensive Hawaii Housing Market Report, showcasing resale homes across Oahu, Maui, Kauai, and the Big Island.


1538 Kapiolani Tower

Right across from One Ala Moana stands a single-story building housing Pho Saigon, Central Pacific Bank, and the Sky Ala Moana Sales office. This parcel of land was acquired by JL Capital, the primary owner and developer of Sky Ala Moana, some years ago. As the completion of Sky Ala Moana draws near with an expected release in October, JL Capital is now shifting its attention to the proposed mixed-use development, 1538 Kapiolani Tower, which is currently under review by the Honolulu City Council.

The Honolulu City Council is set to convene tomorrow, Wednesday, August 9, to delve into the approval process of the conceptual plan for 1538 Kapiolani Tower. The window for approving these plans extends until October 15th.

Envisioned as a 40-story structure, 1538 Kapiolani Tower will house 331 market-priced condos. The unit distribution spans 55 studios, 135 one-bedroom units, 115 two-bedroom units, and 26 three-bedroom units. Although initial speculation hinted at a luxury condo concept, a glimpse of the 7th floor amenity deck and the spacious floor plans suggests a more well-rounded offering compared to its upscale neighbors.

In alignment with the city's guidelines for new developments, affordable housing obligations are a given. To meet these requirements, JL Capital has invested in two separate locations, namely Amana Street and 1564 Kalakaua Avenue. Collectively, these sites will introduce 101 new affordable housing units to the area.

1538 Kapiolani Tower viewed from Makaloa Street.
1538 Kapiolani Tower viewed from Makaloa Street.


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
1 Plan A models priced at $955,351.
Credits of $4k are offered for all homes.
Waioha II at Koa Ridge21 homes available ranging from $935,500 to $1,117,500.
Plan A, B, and D available.
57 Studios - Starting at $270,000
1 One Bedroom - Starting at $360,000
12 Two Bedrooms - Starting at $398,000
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.
4 Studios - Starting at $833k
11 One Bedrooms - Starting at $949k
1 Two Bedrooms - $1,832,000
3 Three Bedrooms - Starting at $2.06M
13 One Bedrooms starting at $1.33M
4 Two Bedrooms starting at $2.05M
2 Three Bedrooms starting at $4.4M
Studios ranging from $326k to $337k.
One bedroom units start at $417k (Affordable Housing)
Two-bedroom units at $624k (Affordable Housing)
Two Bedrooms starting at $797,500 (Market-rate)
Cottages at Alii Drive
4 Three Bedroom units - Starting at $1,011,800
5 Four Bedroom units - Starting at $1,270,000
Pakela Ike
7 of 24 lots of land remain available.

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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 August 7, 2023, including pricing, inventory, and floor plans, often change without notice. Information is deemed reliable but not guaranteed.

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