Transformation Kakaako is Hawaii’s fastest growing and most exciting new urban neighborhood, undergoing a major transformation and rejuvenation. Ala Moana to the east (bordered by Piikoi St), Downtown Honolulu to the west (bordered by Punchbowl St) and the ocean to the south, makes for a very convenient location with shopping, beach and business all close by.
More than twenty new Kakaako condos were planned in recent years - several already completed or under construction - and will include more than 10,000 residences once all towers are completed. Most residential condo developments in Kakaako are driven by two master plans - Ward Village (60 acres) by Howard Hughes Corporation and Our Kakaako (29 acres) by Kamehameha Schools. The plans include improved sidewalks, parks, retail shops & more to make Kakaako a super convenient community where one can live comfortably, even without a car.
Market rate, new or newer, condos in Kakaako typically range in price from $500,000's for some studios to over $20,000,000 for the most incredible Penthouses at Ilima.
The Neighborhood Kakaako, a 600-acre district in urban Honolulu, currently houses about 15,000 residents in scattered high-rise condos amidst an underdeveloped landscape, with major job centers, shopping, entertainment, and recreation nearby.
Expected to grow to 30,000 residents by 2030, driven by over 20 new Kakaako condo projects addressing pent-up demand for urban housing and shorter commutes. The Hawaii Community Development Authority (HCDA) envisions a modern, walkable, and bikeable community with rail transit-oriented development (completion date uncertain), featuring new parks, retail, restaurants, offices, grocery stores, and a revamped Neal Blaisdell Center.
A blend of government and private efforts aims to create an economically sustainable, environmentally friendly urban core with wide, inviting streetscapes, cultural vibrancy, art, and diverse luxury condos, setting a global standard.
Dubbed Honolulu’s “third city,” Kakaako offers a metropolitan lifestyle where residents can live, work, and play, with Kakaako Waterfront Park, Kewalo Basin Park, and Ala Moana Beach Park providing spaces for jogging, swimming, surfing, fishing, and outdoor enjoyment.
Replacing old warehouses and industrial lots, Kakaako’s revitalized urban core promises a dynamic, modern community with tremendous growth potential.
History of Kakaako Kakaako, once a thriving Native Hawaiian agricultural community with terrace cultivation and homes of alii like Kamehameha I, is undergoing a dramatic modernization with towering condos reshaping its skyline.
Originally a key port for foreign trade ships, Kakaako grew crowded by 1850, enabling smallpox brought by sailors to devastate the population, leaving bones often uncovered during modern construction. The area saw a resurgence into the 1950s but shifted as zoning changes favored commercial use, replacing homes with body shops and industrial businesses. Present & Future:
Today, new Kakaako condos signal a residential revival, echoing its past as a vibrant community while transforming it into a modern urban hub.
Over the past 3 years, an average of 403 fee simple condos sold per year in Kakaako. This large sample size makes the graph a highly reliable indicator of market trends.
The Kakaako graphs use median data points instead of averages, as the median is less affected by extreme outliers and better reflects typical trends.
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We exclude Leasehold data from this market analysis because Leasehold properties do not compare with regular Fee Simple properties.
We use median instead of the average because it depicts more accurately a central tendency to the sample size. Example: Take 5 numbers - 3, 5, 7, 9, 21. The median is 7 (the middle number) and the average is 9 (sum of all divided by 5).
We count days on market from listing date through closing date.
