Castle & Cooke Homes Hawaii recently released their Owner-Occupant presale notice for Luana at Koa Ridge. These are paired homes, in essence a duplex or attached home, where you will be sharing one wall with one other owner. The advantage is that it will be less expensive than the single family detached homes in Nanea, Koa Ridge’s first home series released last month.
Price Range for Luana Homes
Prices for the first 2 Phases of the Luana homes range from $714,000 to $772,000. There are 3 models offered, consisting of 3 bedrooms and 2 ½ baths, with an option for Plan C to have a 4th bedroom. All of the plans are 2 stories, with an attached 1 car garage plus a tandem space in the driveway. All bedrooms are also on the 2nd floor. The living space starts from 1,100 square feet to almost 1,400 sq ft. The first floor will have 9’ ceilings and there will be split air conditioning in the living room as well as all bedrooms.
All the homes in Koa Ridge are what is called CPR (Condominium Property Regime) homes, standard for most of the new communities on island. This is more economical for the developer and buyer, and it means that you’re sharing a proportionate interest in the project.
Monthly Fees and What it Covers
Like all CPR’d properties, there is a monthly maintenance fee. For Luana, it will only be between $127 to $158/mo, which is very reasonable in comparison to other projects. This covers your front yard landscaping, internet, Master hazard insurance policy, re-roofing, and exterior re-painting, as well as the common area maintenance. Also, like all master-planned communities, there will be a Koa Ridge association fee, which is $67/mo. This will give you access to the community pool and recreation area.
Lottery Info
Applications are currently being accepted for the 17 Luana homes being offered, and a project lender pre-approval is necessary to enter the lottery. Deadlines for applications are at 5 pm on September 9th, and the virtual lottery will be held 2 days later.
For Military Members or Veterans
More good news is that this project is VA approved as well. So as long as you can move into the home within 60 days of closing, you can do a VA loan for this purchase. If you are not yet on island but will be by end of year, you could apply remotely for the lottery.
Castle & Cooke is targeting completion for Luana to be in late 2020 or early 2021. For more information about Koa Ridge, click here or contact me. Since there are no models to view, virtual tours are being conducted by appointment.
Read more about Koa Ridge: Koa Ridge is Finally Here
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