New Affordable Condos In Honolulu: On Sale Now

I just found out about a brand-new condo building — Holomua — that is scheduled to open in early 2013. More than half of the condo units are being sold at reduced prices to qualified buyers under the state’s affordable housing program!

Holomua is being built in the Makiki area of Honolulu — the location is close to downtown, Shriner’s Hospital for Children, Punahou School, and University of Hawaii at Manoa. This is a highly walkable neighborhood, with shopping and public bus routes close by.

Units are already on sale, and at these prices I’m sure they’re going fast. I did a quick check and there are still units available, so if you’re interested, act now. Here’s what you need to know:

• Total number of units in building: 176 units — 90 “affordable” units are being sold at reduced prices to income-eligible buyers. The remaining 86 are being sold at market prices.
• Price range of “affordable” units: $240,000-$391,000 + $187-$398 monthly maintenance fee, depending on size of unit. Maintenance fee covers water/sewer bill and garbage pickup.
• Price range of “market” units: $320,000-468,000 + $187-398 monthly maintenance fee, depending on size of unit. Maintenance fee covers water/sewer bill and garbage pickup.
• Unit Floorplans: 1 bedroom/1 bath, 2 bedrooms/1 bath, and 2 bedrooms/2 baths.
• Square footage of living space per unit: 354-752 square feet
• Included appliances per unit: Refrigerator, range, garbage disposal, stacked washer & dryer, ceiling fans, 2 wall A/C units, water heater.
• Building info: 23 stories high, assigned parking on the lower levels, 3 elevators, secure entry, trash chute, and pet-friendly!

Construction of the Holomua condo building is scheduled to be complete in early 2013.

To be eligible to apply for an “affordable”-priced unit, your income must be no more than:

• 1-member household: $80,070
• 2-member household: $91,500
• 3-member household: $102,940
• 4-member household: $114,380
• 5-member household: $123,530
• 6-member household: $132,680
• 7-member household: $141,830
• 8-member household: $150,980

Contact the developer, Hawaiian Island Homes, to find out what their current open-house hours are, or to get more info.