Updated on November 27, 2018
If you are looking for a spacious, affordable, centrally-located new development condo in Honolulu with great amenities and efficient high-tech appliances, The Central Ala Moana will be a great option for you.
The Central Ala Moana offers 202 market rate units and 310 affordable housing units. This spacious development project offers great opportunities for both investors and the eligible Hawaii residents in accordance with the guidelines of The Hawaii Housing Finance and Development Corporation (HHFDC) for affordable housing.
The information provided in this blog can also be found at The Central Ala Moana website. It should be noted that all figures, facts, information and prices provided are estimate and subject to change at any time.
Market Sales Price
- Model A1 (UNIT#01) 2Bd/2Ba (979 SF) : $787,000 ~ $860,000
- Model B (UNIT# 02) 1Bd/1Ba (702 SF) : $580,000 ~ $630,000
- Model D (UNIT# 04) 1Bd/1Ba (702 SF): $596,000 ~ $630,000
- Model E (UNIT# 05) 1Bd/1Ba (698 SF): $596,000~ $630,000
- Model F (UNIT# 06) 2Bd/2Ba (990 SF): $777,000 ~ $850,000
- Model G1 (UNIT# 07 ) 2Bd/2Ba (981 SF): $787,000 ~ $860,000
- Model O1 (UNIT# 11 ~ #12) 3Bd/2Ba (1240 SF): $1,096,000 ~ $1,230,000
- Model O (UNIT# 12) 3Bd/2Ba (1240 SF): $990,000 ~ $1,076,000
- Model N (UNIT# 10) 2Bd/2Ba (1159 SF): $917,000 ~ $998,000
- Model K (UNIT# 09) 3Bd/3Ba (1507 SF): $1,320,000 ~ $1,398,000
- Model I (UNIT# 09) 2Bd/2Ba (1043 SF) : $805,000 ~ $855,000
- Model H1 (UNIT# 08) 2Bd/2Ba (1008 SF): $837,000 ~ $910,000
- Model H (UNIT# 08) 2Bd/2Ba (1008 SF): $804,000 ~ $830,000
Affordable Housing Sales Price
- Model A (UNIT#01) 2Bd/2Ba (979 SF) : $522,000 ~ $610,000
- Model B (UNIT# 02) 1Bd/1Ba (702 SF) : $437,000 ~ $518,000
- Model C (UNIT# 03) 0Bd/1Ba (397 SF) : $291,200 ~ $389,000
- Model D (UNIT# 04) 1Bd/1Ba (702 SF): $437,000 ~ $526,000
- Model E (UNIT# 05) 1Bd/1Ba (698 SF): $437,000 ~ $526,000
- Model F (UNIT# 06) 2Bd/2Ba (990 SF): $593,000 ~ $616,000
- Model G (UNIT# 07 ) 2Bd/2Ba (981 SF): $522,000 ~ $595,000
- Model O (UNIT# 13) 3Bd/2Ba (1240 SF): $700,000 ~ $708,000
- Model M (UNIT# 12) 1Bd/1Ba (693 SF) : $396,000 ~ $566,000
- Model L (UNIT# 11) 0Bd/1Ba (447 SF) : $286,000 ~ $377,500
- Model J (UNIT# 10) 0Bd/1Ba (443 SF) : $286,000 ~ $399,500
- Model I (UNIT# 09) 2Bd/2Ba (1043 SF) : $512,000 ~ $637,000
- Model H (UNIT# 08) 2Bd/2Ba (1008 SF): $493,000 ~ $592,000
For more info, contact Sunny Bak (RA) by texting (808) 753-8293 or emailing at Sunny@HawaiiLiving.com for further information and assistance.
Image is courtesy of SamKoo, The Central Ala Moana
Market Rate Unit Application
Application Deadline for Market rate is December 11, 2018 and you must submit signed owner occupant affidavit with pre-qualification letter. However, Good news for investors is that the developer got a waiver from the city that any buyer of a market rate unit may put the unit on market or rent it out 1 day after taking the ownership of the unit.
The application process for market rate units:
- Submit pre-qualification letter and owner occupant affidavit by December 11, 2018
- Prospect will receive an email with sign-up information (website address and date)
- On the date and time, Be ready to sign up online quickly (it is first come first serve)
- Prospect who signed up, will receive a number in line to select a unit at a future date
- Once unit is selected, buyer must bring a $10,000 check at signing
Affordable Unit Application
Application Deadline for Affordable is January 14, 2019 and you must submit application package in person with pre-qualification letter from the developer’s preferred lenders.
- US citizen or Permanent resident
- At least 18 years old
- Resident in State of Hawaii who currently resides in HI
- Shall physically reside in the unit purchased
- Does not own majority of interest in a fee simple or leasehold property anywhere in the world
- Has sufficient income to qualify or the loan to finance the purchase
- Has a need for housing in accordance with state law
The application process for affordable units:
- Submit pre-qualification letter and the application package by January 14, 2019 5pm
- Public drawing for buyers
- Selected buyers will receive Property Selection Number (PSN)
- Once unit is selected, buyer must bring a $500 deposit at signing and the remaining of 5% after 30 days.
Update of the Central Ala Moana
Each residential floor will have a total of 13 units (3 Studio, 4 One-bed, 5 Two-bedrooms, and 1 Three-bedroom units).
Detached Parking Structure
There is detached parking structure from 2nd to 10th floor and the 11th floor will be the amenity deck. 1st floor of the parking structure is reserved for commercial and guest parking.
- Studio affordable units : 2nd to 43rd floor
- 1BR affordable units : 2nd to 20th floor
- 2BR affordable : 2nd to 25th floor
- 3br affordable: 2nd to 10th floor (there are only 9 affordable 3bedroom units)
The estimated fee will be at $0.69 per square foot, and the fee includes water, sewer, cable and internet.
- Appliances: Both affordable and market units come with Samsung kitchen appliances – oven, refrigerator and microwave and dishwasher. (Notes: dishwasher is NOT included in studio units) Affordable units will have slightly lower grade appliances of the same brand. Other than the appliances, both market and affordable units have the same quality of materials.
- Ceiling height: 8ft 5.5 inches all floors (Ceiling height of the Kapiolani Residence is 8ft)
- No storage available
- Bicycle storage : 1st floor. Management of the storage is to be determined by the future AOAO
- Surf storage : 1st floor. Management of the storage is to be determined by the future AOAO
- Elevators : 5 elevators and 1 is a service elevator, but it can be used as regular elevator when not in use for service. Service elevator opens both sides (means not only to lobby but also to loading dock).
- Pet Policy: 1 pet per unit (25 lbs or less in weight)
** disclaimer: information presented on this blog is received and verified by the sales team of the Central Ala Moana, however, it is subject to change at any time.
The Central Ala Moana is a new condo project in Honolulu, to be developed by SamKoo Hawaii who is currently developing Kapiolani Residence (expected completion in 2018). Just like Kapiolani Residence, The Central Ala Moana will dedicate 60% of its units as affordable housing, adding more options for Hawaii residents to enjoy the location and lifestyle Ala Moana offers. Some units have amazing panoramic ocean views!
The project will be 43 stories high (approximately 400 ft tall) with 10 parking floors including 26 guest parking stalls. The 11th floor will be an amenity deck providing great outdoor activity options, including; an infinity pool, kids pool and playground, fitness center, recreational center and BBQ cabanas.
There will be a total of 512 units; 310 units (60%) as affordable housing and the remaining as market rate units. Each residential floor will have a total of 13 units (3 Studio, 4 One-bed, 5 Two-bedrooms, and 1 Three-bedroom units). Units at The Central Ala Moana will be spacious and comfortable. Studio units (389-440 sq.ft), 1-Bedroom (690-700 sq.ft.), 2-Bedroom from (990-1100 sq.ft), and 3-bedroom (1,240-1,540 sq.ft)
Parking for Studios, 1-Bedroom and 2-Bedrooms have 1-Parking (Option to Purchase 2nd Stall for the 2-Bedrooms) and 3-Bedrooms come with 2-Parking spaces.
Each unit will have high ceilings and upgraded appliances – an induction oven and Samsung heat pump dryer which will be introduced in the U.S. for the first time (just to name a few)! There will be 9 commercial units on the ground floor and each commercial unit will come with 2 parking spaces.
All images, renderings are courtesy of SamKoo Pacific, LLC.