With strong demand for new single-family homes and condos, Oahu's real market is ripe for new development in 2020.
Locations RealtorⓇ Koa Cassady breaks down the top four Oahu neighborhoods for new homes this year.
New Homes at Ho'opili by D.R. Horton Hawaii
At Hoopili in Ewa Beach, Home is quite literally “Where the HART is.” This West Oahu transit-oriented development will feature the first three Honolulu Rail Centers operated by the Honolulu Authority for Rapid Transit (HART). D.R. Horton Hawaii began offering Ho'opili homes in 2014, and with 14 more years left in its 20-year buildout, the master plan will feature nearly 12,000 new Ewa Beach homes upon completion.
Ho'opili Home Types
D.R. Horton Hawaii is no stranger to Oahu Real Estate market, and you may be familiar with some of their more recent developments like Makalae at Sea Country in Maili and the Mehana homes in Kapolei. Like Mehana, the developer provides many types of Hoopili homes for a variety of buyer needs, including:
- Market-priced and affordable housing condos and townhomes with garage options and air conditioning available, from the $300,000s
- Mixed-use FLEX homes that allow for business operations downstairs and living arrangements above
- Duplex, single-family and multi-generational style homes, some with Accessory Dwelling Units (ADUs) for rental potential or ground-level master suites with separate entry and kitchenettes for multi-family living, from the $600,000s
New Homes at Koa Ridge by Castle & Cooke Hawaii
If you ask me: “What’s the one neighborhood that you receive the most inquiries on?” It’s undoubtedly Koa Ridge. Developers Castle & Cooke Hawaii originally proposed the Koa Ridge development more than a decade ago. After numerous zoning and permitting delays, it looks like this elusive new Central Oahu neighborhood may finally see the light of day.
My most recent communications with the Castle & Cooke indicate that we’ll see the first launch of Koa Ridge homes for sale in second quarter of 2020, with the completion slated for late 2020 or early 2021. Koa Ridge model homes are projected to be finished after the projected sales launch, so early prospective buyers will have to make decisions based on floor plans and home specifications alone.
Interest has kicked up significantly since mass grading and infrastructure work began on Kamehameha Highway near the Okinawa Center, the site of the first homes to be built. To the untrained eye, it may look like just a bunch of dirt being moved around, but you’ll know things are getting hot and heavy when you see foundations being poured and framing going up.
Here’s what we know about proposed home types and the Koa Ridge community so far:
- Affordable housing condos and townhomes
- Single-family and multi-family homes
- Senior housing
I would expect to see numerous parks and community centers along the way, as well as dining and entertainment opportunities at “The Village,” the rumored urban epicenter of the neighborhood. Details regarding Koa Ridge prices, floor plans and model homes have not been released.
New Condos in Kakaako
Drive down Ala Moana Boulevard, and you’ll hardly recognize the skyline you saw five years ago. When residential development titans like Howard Hughes Corporation plant their flag in your neighborhood, you know a transformation is underway. The Texas-based developer has completed construction on four new high-rise condominium towers in the internationally acclaimed Ward Village neighborhood of Kaka'ako, with three more towers either under construction or in the pre-sales process.
Ward Village is currently offering new luxury Kakaako condos for sale in the Ko’ula and Victoria Place towers, with one-bedroom units from $1 million.
Ililani condos, by Kenneth Kai Chang, a Los Angeles developer with Hawaii roots, is anchored near SALT at Kaka'ako and is by far the most reasonably priced new Honolulu condo in the 2020 market, with two-bedroom units from $665,000. The closest competitor sees two-bedroom units from $800,000.
New Ala Moana Condos
The Ala Moana neighborhood is also jumping in on the action, with the completion of Kapiolani Residence in 2018 and a number of other projects like The Central Ala Moana, Sky Ala Moana and Azure currently under construction or pre-selling units.
We will also see the emergence of the ultra-luxurious condo-hotel Mandarin Oriental Honolulu residences on Kapiolani.Stay tuned, as we’re aware of at least two more projects coming to the region that’s quickly becoming known as Midtown Ala Moana.
The Kapiolani corridor already sees a significant amount of congestion, so I recommend that buyers be conscious of this when considering their options. The number of new towers coming to the region will undoubtedly add more cars commuting or looking to park on Keeaumoku Street.
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