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2 Kapiolani Residence Condos for Sale(2 Active / 0 In Escrow)

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The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd.
Total 2 Kapiolani Residence Condos - 2 loaded

New Listings - Every 1 Min ? The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd.

Kapiolani Residence - General Info & Sold Data

3/1/2018: Kapiolani Residences is on target for completion October 2018 and first group of owners expected to move in December 2018.

About Kapiolani Residence
Kapiolani Residence is a new condo project in Honolulu, which will offer 60% of the units as affordable housing (for sale – not rentals) and the remaining 40% as market rate units.

Address: 1631 Kapiolani Blvd, Honolulu, HI 96814.
Developer: SamKoo Pacific, who reportedly also has plans for a similar tower at 1391 Kapiolani Blvd (some future date).
Units: 484 of which 60% (292 units) will be affordable housing units and remaining 192 units will be market priced units.
Price range: $271,549 to $591,598 (studio to 3BR affordable housing units) and $486,500 to $989,500 (1BR to 3BR market rate units).
Unit sizes: 400sqf to 1,230sqf.
Unit configurations: Studio to 3BR.
Parking Stalls: All units come with 1 stall, 2BR has option to purchase an additional stall and 3BR units come with 2 stalls, mainly side by side.
Balcony: All unit has one.
Expected completion: Fall 2018 (broke ground late 2016).

Indoor party room, BBQ grills and cabanas.

Unit types
A = 2BR / 2BA, 892sqf (27 units)
B = Studio, 405sqf (44 units)
C = 1BR / 1BA, 696sqf (27 units)
D = 1BR / 1BA, 726sqf (27 units)
E = 1BR / 1BA, 671sqf (27 units)
F = 3BR / 2BA, 1,230sqf (4 units)
G = 2BR / 2BA, 889sqf (20 units)
H = Studio, 400sqf (44 units)
I = 1BR / 1BA, 669sqf (26 units)
J = 2BR / 2BA, 922sqf (20 units)
K = 2BR / 2BA, 895sqf (26 units).

Market Priced Units Sales
October 9, 2016 Kapiolani Residence market rate units prices were released. The sales process will be a lottery held on November 10th 9am with unit selection beginning November 11th 9am. In order to particular in the lottery, a potential Buyer must submit this affidavit to the sales office no later than November 7th at 5pm. Sales office address: 1391 Kapiolani Blvd Suite 104.

Specific to Affordable Housing Units
Annual Income restrictions
1 person: $84,480 (max)
2 persons: $96,480 (max)
3 persons: $108,600 (max)
4 persons: $120,600 (max)
NOTE: There are sometimes ways to reduce one’s annual income to qualify for affordable housing. Example: Over-time work may not have to be included in the calculation, if you have a fulltime and a partime job, the income from the part-time job may not have to be part of the calcuation etc. Conclusion: If you make slight above the income restrictions, do not automatically assume you do not qualify.

Other Affordable Housing Requirements
Must be a US Citizen or resident alien.
At least 18 years old.
Currently resides in Hawaii and will reside in unit to be purchase (in other words, must be an owner-occupant; not possible for investors to purchase).
Does not own a majority interest in a piece of real estate (this applies to anyone in the household).
Income restrictions: Coming soon!

Shared Ownership
The state will have a certain percentage ownership in the affordable units and will retain a 10 year right to buy-back (in case an owner wants to sell). The state’s ownership % is not fixed at this stage and it various with price of unit, estimated value values & more, which will only be determined upon closing (expected year 2018).

Applicants for Kapiolani Residence affordable housing units must be submitted by 5pm August 31, 2016. In order to apply, a potential Buyer must qualify under the HHFDC’s affordable sales program (HHFDC = Hawaii Housing Finance & Development Corporation) – read more about requirements below (there will be seminars for potential Buyers and since there will be a lottery at some point after August 31, 2016 there is plenty of time at this stage).

You may also be interested in....
The CollectionKeauhou Place or Symphony Honolulu. Alternatively, expand to search all Kakaako condos for sale or start broader with all Honolulu condos for sale.
Interested Buying or Selling in Kapiolani Residence?
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