Malu Koa West
4-story mid-rise condominiums next to the Village in Koa Ridge.
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.
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.
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 Ridge | 21 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) | |
4 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. |
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We are not the developer. We're real estate agents who help you buy new homes at no extra cost.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 August 7, 2023, including pricing, inventory, and floor plans, often change without notice. Information is deemed reliable but not guaranteed.
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We are not the developer. We're real estate agents who help you buy new homes at no extra cost.4-story mid-rise condominiums next to the Village in Koa Ridge.
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