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Waihonua Updates: One Bedrooms Available and Prices Increasing

Word on the street is there are new units available at Waihonua. Shhhhhh!!! Or maybe not. Check out their availability and price list: Waihonua Availability and Price List.

Waihonua should be starting to break ground soon with all the commotion and sales happening!

About Waihonua Price and Availability

Currently, there are 3 units available: 1408, 3808, and 3807. These won’t last for long though, even with the approximately $20,000 price increases across the one-bedroom board! Two to three days ago, 1308 (lowest priced one bedroom available since first offering) and higher floor 08 stack became available and – POOF! – they are no longer on the board.  

Just FYI, the 3 bedroom A units also went up a whopping $100,000 per unit for anyone now coming into the building to purchase. Unbelievable. In just a few months, one-bedrooms and three-bedrooms have almost immediate equity. The building is mostly comprised of two bedroom units, so it will take a while for those to sell, for the sheer reason of more units to sell.

Why Have These One-Bedroom Units Suddenly Become Available?

Currently, Waihonua has received their Bureau of Consumer Financial Protection Report along with their amended Public Report. All potential owners in contract on the building now have 30 days from receipt of the package to be bound completely, risking their entire 15% down payment, in the event they are unable to qualify, all in hopes of owning in one of Honolulu’s most premier areas of Kakaako.  

You will see more people having buyer’s remorse, or checking their financial picture more completely and coming to the realization that this building is not in the cards for them. You will also see this for the two-bedrooms and three-bedrooms, but it will be rare for the one and three-bedrooms to come on.

Some Other Updates

  • Maintenance fee now includes basic cable and basic internet
  • They added lanais to the odd numbered floors for some of the two bedrooms
  • They now have a furniture planner on the website
  • Less units than originally planned for due to developer updating penthouse style units
  • Remember: There are still senior residences coming up in the building

Some Tips I Have For Buying in This New Building

  • Read all documents you are given – CAREFULLY (or ask me, since I read them)
  • Realize this is a two to three year commitment and plan for worst case scenario (i.e. economy tanks and you no longer have a job to pay for this condo)
  • Get excited, the more you’re excited, the faster the time will go
  • Make sure to check how the building will be running its board of directors, and find out, if possible, how the building will be constructed (I’ve heard some of the newer buildings could have potential problems down the road with construction – it’s all hearsay, so I can’t say a word). Again, do your homework. Buyer will always have to beware! Check out today’s paper, there was again more information of some of the newer buildings having problems.

That’s it for now, stay tuned for more. Again, I love this building, I’m buying in it, I believe in it…but I’m just like you, a small town, Honolulu girl, buying in a big, big, BIG, new project. Boldly going…

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Matt

March 18, 2012

I’m such a sucker for parties that now I feel this strange sense of obligation to Waihonua! The party they threw for their owners-to-be was great. Very cool crew. I think the people who take the plunge are going to be glad they did.

Matt

March 18, 2012

I’m such a sucker for parties that now I feel this strange sense of obligation to Waihonua! The party they threw for their owners-to-be was great. Very cool crew. I think the people who take the plunge are going to be glad they did.

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