A new 43-story condominium tower in Honolulu has launched sales — but only for some potential buyers.
The new Lamakū Tower is part of a broader residential development known as Kahuina, nestled in the city's Kakaʻako neighborhood.
On Thursday, sales at the tower launched. For the next 30 days, though, sales will only be for buyers considered Kamaʻāina — or residents.
The tower offers one-, two- and three-bedroom homes starting at $690,000, according to Kakaako Block C, an affiliate of Stanford Carr Development that's behind the project.
It's a specific strategy aimed at expanding housing opportunities for locals, according to Stanford Carr, president of Stanford Carr Development, which oversaw the project alongside its affiliate Kakaako Block C.
“Kahuina’ means ‘crossroads’ in Hawaiian and represents the coming together of the past and the future,” Carr said. “This innovative new residential community is designed to provide more housing options specifically for Kamaʻāina to enjoy the comfort and convenience of living in town together with other local families.”
Indeed, the Kaka'ako neighborhood is considered a luxury pocket of the city tucked away from tourists. It's rife with new developments, many of which make up master-planned communities, such as Kahuina.
“This project will add hundreds of new homes and create business opportunities" for Hawaii residents to remain in the state, according to Pualani Hao, director of planning and development at Kamehameha Schools, the district that owns the land where the new condos stand.
Bringing hundreds of market-rate and affordable units to Hawaii
The Kahuina development includes Lamakū, where sales launched this week, and a second building known as the Māmalu Tower.
Unlike Lamakū, residences in the Māmalu are priced according to the Hawaiʻi Housing Finance & Development Corporation and geared toward lower-income buyers. On its website, the tower lists its anticipated prices starting in the $600,000s for one-bedroom units.
Two-bedroom units are expected to be priced in the $700,000s and three-bedroom units are listed as starting in the $800,000s.
Between the two towers, there will be 737 for-sale homes.
The development will offer residents access to a recreation area, including a pool, fitness center and children's play area, as well as outdoor retail and free community activities, such as pickleball and a dog park.