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Update for Kaka’ako’s New Keauhou Place Development

One of Kaka’ako’s newest planned communities is Keauhou Place developed in partnership between Stanford Carr and Kamehameha Schools. Its market units went on sale about a month ago, and interest has been very high. Those units were starting from the mid $400,000’s for a 1 bedroom in the 43-floor tower, and mid $500,000’s for the 2 bedroom units there. For those buyers who cannot afford those prices, there are affordable units here as well.

Rendering Keauhou Place Pool

Rendering of pool on the 8th floor

Reserved Housing Eligibility

Affordable or Reserved Housing units will be going on sale shortly. There are requirements in order to be eligible to buy a reserved unit, such as income restrictions, asset restrictions, and ownership restrictions. Regarding the income eligibility for a sole occupant, your adjusted income needs to be lower than $85,150 for the last tax year and for 2 people it is a maximum of $97,300 adjusted household income.

These units are only available for owner occupants who have not owned any real property for the 3 years immediately prior to this purchase. There are also equity-sharing requirements with the HCDA (Hawaii Community Development Authority) if/when you decide you want to sell.

Rendering of Living room

One of the 12 different floor plans for the living room

To be eligible for this lottery, you would need to do a loan pre-approval with a project lender, pick up the project’s packet by April 3rd, and hand deliver it back to the sales office no later than 6pm on April 16, 2015. The lottery is 2 days later on April 18th at 10am, where you will need to be present.

Bedroom

Floor-to-Ceiling Double Glazed Insulated Low-E Windows

Want to Know More?

For further questions on eligibility, pre-approval, or the paperwork required, contact me or Keauhou Place. You can also check out my earlier blog on Keauhou Place.

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