Lets Compare the both buildings and their amenities
Ohana Hale will have Studio and 1 bed Affordable Units. Whereas The Central Ala Moana will have Studio, 1, 2, and 3 bed Affordables. Location | Ala Moana or Mo'ili'iliThe next biggest difference is the Location. Both are centrally located in Metro Oahu and are just a short distance from one another. One thing to keep in mind is the neighborhoods are different. The Central will be in Ala Moana whereas Ohana Hale will be in the Mo'ili'ili/McCully Area
Here is our personal opinion of the two. When comparing the two buildings you are essentially comparing apples and oranges. Both buildings will be different not only in physical location, but the level of amenities, and all the way down to the maintenance fees of the units. The obvious similarities are that they will both feature affordable housings (both with the 10 year owner occupant hold period). It just depends on what you are looking for and which neighborhood you prefer. If you are looking for a Studio or 1 bedroom you may want to try for both as you can cross shop. But if you are hoping to get a 2 bedroom or 3 bedroom then you would have to try your luck at The Central. Both are lotteries and I am pretty sure that The Central Ala Moana will definitely have more applicants.
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SO WHICH IS BETTER? THE CENTRAL OR AZURE?Within the past week many people have flocking over to Azure Ala Moana which is the most recent condo to open it's gallery to the public. With their sudden announcement to begin sales (Saturday, September 22nd) many people have been very curious on whether to buy Azure, or to wait for one of the other buildings that will come to the Kapiolani Corridor. Many are torn between whether they should pull the trigger on Azure or if they should wait for The Central Ala Moana. Here is our personal opinion of the two. When comparing the two buildings you are essentially comparing apples and oranges. Both buildings will be very different from the exterior finish and aesthetics, all the way down to the maintenance fees and price point of the units. The only obvious similarities are that they will both be located in the "Midtown-Alamoana/Kapiolani Neighborhood" and have a commercial component on the ground floor. Lets Compare the Amenities for both buildings
Azure definitely has more amenities and it is aiming to be more luxurious than The Central Ala Moana. If you are familiar with Honolulu Real Estate you can think of Azure as a hybrid of Symphony Honolulu and The Collection. Whereas The Central Ala Moana will be a more luxurious version of Kapiolani Residence. Views and Location. Between the two buildings, the location for both is fantastic. You are centrally located in the heart of Honolulu, with close proximity to the beach, Ala Moana, shops, restaurants, grocery stores, and public transportation. But between the two, I personally like The Central. Here's my two-sense on it, The Central is on the Makai/Ocean Side of Kapiolani which to me is the preferred side as you will not see much other construction (unless Ala Moana builds a condo on top of their parking lot). Azure's location while prime will see other towers come up around it. There are currently 8 other towers that want to come into the neighborhood with the possibility of more. Azure's view planes will be obstructed in the future but should still have views and channel views of the ocean depending on your location.  View from Azure facing the ocean. Highlighted area is where The Central Ala Moana will come up Affordable Units vs. Affordable Rentals. The biggest difference will be the fact that The Central will have Affordable units for sale (60% of the building) whereas Azure will have affordable rentals. Those renters at Azure will not be able to use the amenity area. Whereas at The Central, everyone can use the amenities regardless of whether they own affordable or a market unit.
At the end of the day, if you will be living in either condo, both are fantastic choices and I cannot express more on how great the location will be. The entire Kapiolani corridor will be re-developed and you practically have everything at your finger tips. Now if you're buying it as a rental, that's another story and I will save it for another time. But if you have any questions or comments please feel free to reach out to me! For inquiries about The Central Ala Moana or the prices for Azure, please contact us by call, text, or email. All pictures are courtesy of SamKoo Pacific, LLC and Azure Ala Moana and are subject to change.
 When it comes to affordable housing, it is obvious that Hawaii desperately needs it. Recent reports from the Honolulu Board of Realtors show that sales are at all time highs for single family and condominium homes, but the thing is that salaries are not increasing as fast as property prices and many local residents are getting priced out of the market. When it comes to new construction, developers must set aside at least 20% of the building to affordable or reserved housing. But some developers get around this requirement by building an entire separate building for reserved/affordable housing. So that they can market their building as "a luxury building." While this seems rather sneaky, unfortunately it is the way it is and it's very hard to change. edit. Luckily SamKoo Pacific, LLC has been a pioneer when it comes to bringing affordable housing units to Oahu. They recently sold Kapiolani Residence which is set to open at the end of this year and it had 60% go towards affordable housing. Their next project, The Central Ala Moana, will be their second project and will give another 60% to affordable housing (310 units) which is more than 3 times the normal requirement. "According to Paul Brewbaker, former State Economist and Preseident of TZ Economics; Oahu needs 3500 new housing units per year." Unfortunately, the state typically issues a maximum of 1500 permits for new housing. Building permits issued between 2009 and 2014 were lower than in any period since WWII. Because of this, each year we fall behind by 2000+ housing units.
Affordable housing however requires a fine balancing act. You need to make under a certain income but you need to make enough to qualify for the loan. For affordable housing, they work backwards using the area median income and price the units accordingly based on what that income bracket can afford. Plus they also allow gift funds, or co-signers. If you missed out on Kapiolani Residence and are looking for the next affordable housing project, then The Central Ala Moana is what you have been waiting for. Don't forget to sign up today to get the latest information below! |
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