New Kapiolani affordable condo project receives large number of applications

Artist rendition courtesy Communications Pacific

Kapiolani Residence, an affordable housing condominium project scheduled to start construction in a few months near Ala Moana Center, received more than 900 applications for the 292 available affordable residences.

All completed applications from prospective local buyers submitted by the August 31 deadline for the 292 affordable residences are under review by the state’s Hawaii Housing Finance and Development Corporation (HHFDC), who will determine and notify applicants of their eligibility.

Applicants or their agents will be notified by the Kapiolani Residence Sales Team with next steps for the public drawing.

Artist rendition courtesy Communications Pacific
Artist rendition courtesy Communications Pacific

The Kapiolani Residence project will offer 484 residential units for fee simple ownership. Sixty percent of the units (292) are designated as affordable and reserved for qualified Hawaii residents. The remaining 192 units will be market priced and will be available for sale later this year.

Residences will include studios and one-, two- and three-bedroom units ranging from 460 to 1,337 square feet of living space including balcony, with affordable unit prices starting at $270,800.

Kapiolani Residence will feature commercial space on the ground floor, a parking garage with assigned stalls, electric vehicle charging stations and bicycle storage, and a recreational deck on the garage’s ninth floor with an indoor party room, barbeque grills and cabanas.

To learn more about the market unit offering process, visit www.kapiolaniresidence.com or visit the Kapiolani Residence sales center at 1391 Kapiolani Blvd.

The 45-story condominium is a public-private collaboration between developer SAMKOO Pacific, LLC and the State of Hawaii’s Hawaii Housing Finance and Development Corporation (HHFDC).

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