New Affordable Projects | Sky Ala Moana and Ililani in Kakaako

Get Ready For The Next Two Affordable Housing Projects

Are you looking for a Fee Simple affordable housing project in a new construction building? If you missed out on The Central Ala Moana's affordable housing release, you may just be in luck. There are two new projects that will both have an affordable housing component. Those two projects are: Sky Ala Moana and Ililani in Kakaako. 

Sky Ala Moana

Ililani in Kakaako

Of the two new projects, Sky Ala Moana will be announced and opened to the public first. Then Ililani will occur later in the year and is expected to launch after the middle of the year but may end up going into the 3rd to 4th quarter. For Sky Ala Moana, market and investor sales will occur before the affordable housing sales. Ililani is expected to follow in a similar order where they focus on selling the market units first, then the affordable units (This is to prevent potential buyers from trying enter the affordable lottery, then if they do not get in, they buy a market unit).

A Quick Comparison of the 2 new projects

Sky Ala Moana

• 474 Units + up to 300 Hotel Units (2 Towers)
• ​390 Market Units + 84 Affordable Units for sale
• Breakdown of Affordable Units (60 studios, 6 one beds, and 18 two bedroom units)
• No access to amenity deck
• State 30 year Affordable Housing Program. Will be reduced in years if units do not sell within certain periods of time. (new info to come)
• Market Units to be sold first followed by the affordable units
• Affordable Maintenance Fee and Price: TBD
• Neighborhood: Ala Moana Kapiolani Corridor

Werbung: jetzt-drucken-lassen.de

Ililani in Kakaako

• 328 Units Total (1 Tower)
• 163 Market Units + 165 Affordable Units for sale
• Breakdown of Affordable Units (exact number not finalized but will be only 1 and 2 bedroom units)
• Access to amenity deck 
• HHFDC 10 year Affordable Housing Program. Similar to Kapiolani Residence, Ohana Hale, and The Central, but won't have a minimum income.
• Unsure whether affordables will be sold prior to market units. (Stay tuned). 
• Affordable Maintenance Fee and Price: TBD
• Neighborhood: Kakaako near SALT in Our Kakaako

Werbung: jetzt-drucken-lassen.de

A look at annual sales and median prices (Oahu)

A Realtor's Opinion

After helping hundreds of clients in numerous projects throughout the state; I have to say that I believe that Ililani in Kakaako will be the more competitive and more desired of the two projects. With no minimum AMI restriction, we will see a ton of applicants who didn't get a Central Ala Moana unit. Recent trends also show the popularity of 1 and 2 bedroom units over Studios, which Ililani has more of. Since Sky is majority studios and doesn't have access to the amenity deck, it is quite certain that Ililani will be the more popular of the two projects. However, both projects will be amazing buildings in fantastic neighborhoods in the urban core of Oahu. 

However, Sky may be appealing if the maintenance fees are significantly lower. Sky's market units are $0.95 a sq. ft, but the affordable units will be cheaper since they do not have access to the amenity deck. The downside other than the fact that majority of the affordable units (71%) are studios, is the fact that it will be in the East/Diamond head tower of Sky which will be the hotel tower. This tower is set for phase 2 which means it will be constructed after the first residential tower on the West/Ewa side of the complex. 

If you are looking for the next affordable housing project, then one of these new projects may be may be for you. Don't forget to sign up today to get the latest information below!

Written By: Jonathan Pang (R)

Jonathan Pang (R) RB-22025 with Locations LLC and The Dream Team Hawaii are Buyer's Agents in respect to any sale within any new project.
​As a buyer's agent, Jonathan will be there to help you every step of the way and will look after your best interests. Jonathan is a full-time Realtor in the state of Hawaii and a Broker-In-Charge at Locations LLC who specializes in new project construction on Oahu. All blog posts here were created by Jonathan Pang and may contain personal opinions and thoughts by the author. 
Jonathan's has most recently helped the Howard Hughes Association as a sales team member for Aalii in Ward Village and has successfully helped clients with the sales of Anaha, Aeo, Akoko, Hauoli Lofts, Kapiolani Residence, Ke Kilohana, Keauhou Place, Kohina, Koula, Symphony, and Seabridge.