There hasn’t been a lot of new project sales worth mentioning in the past year, but I have to say, this Realtor believes this is the project to buy. The last project in the prestigious “Nauru” development area of Kakaako, Waihonua (which literally means “waters of the earth”) has all the makings and potential to become the “it” building.
Waihonua boasts 345 brand new pet-friendly units, energy efficient lighting and water heating, plus fabulous windows—expansive insulated, low-E glass window systems to suppress heat. Basically, it’s the first new project to start to have a hand in being energy efficient from the start.
The most recent developments, Hokua (built 2006) and Koolani (built 2006), either tripled in the past five years or increased in value by $200,000 to $300,000 respectively. I’m not saying that Waihonua will follow suit, but I would be amazed if it doesn’t. It’s the only spot left in the highly desirable Nauru skyline. It’s economics—supply is low and demand is high.
The craziness begins; vying for numbered tickets, these home buyers hope to get their number one picks
I was there the day the doors broke open to start the craziness that would be the sale of Waihonua 1, 2, and 3-bedroom condo units. Most people seemed to be interested in the 2-3 bedroom condo units, but my client and I were all set on our one-bedroom high hopes and were able to score the exact unit that he wanted. We were number 29 (remember, there are 345 units available).
It was exciting to see such excitement over a brand new condominium building, a sight we haven’t seen for a very long time. Let’s hope there are good things to come. The building isn’t sold out yet. Check out the availability and price list and see if one could work for you: Waihonua Price and Availability List.
Some Tips When Preparing for the Purchase of a New Project
1. Do some recon: Ask your Realtor to contact the sales office to find out the specs, when to be there, how they will be running their sale, will it be first come first serve, etc.
2. Be prepared for anything: Even armed with this information, everything will not go exactly according as planned. Get there a little early, scope out the new rules, and grab a number if available.
3. Be patient: Make sure you bring your stamina because you’ll need it. It took 2-2.5 hours for most people to get through the contract process.
Brand new Waihonua Condominium promises new infusion of real estate breath in the Honolululu-Kakaako area; new things are on the horizon.
If you would like to take a look, or have any questions regarding Waihonua, please call Caron at 808.753.7464.