There are a lot of development taking place currently throughout Hawaii and especially Oahu. There has been a pent up demand for new housing and various neighborhoods have been approved and development in motion. Much anticipated Koa Ridge broke ground last year and there are neighborhoods like Hoopili that is supposed to be as big as Hawaii Kai coming up in central Oahu/Leeward side. However, most notably the developments in Kakaako are the ones that are reshaping how Honolulu will operate. Most of the development is concentrated on Kakaako area and that is a welcome news for many. It provides direct access to downtown without the traffic hell that many have to go through. Also, the new units come with varying options from affordable housing all the way through ultimate luxury housing. If you have to work in Downtown or Waikiki side and have to travel every morning for it in the traffic, there is also a substantial cost associated with doing so, not just in terms of time, but in actual dollars and cents.
There are new developments that is about start being developed like Keeaumoku Towers and there ones that you can see the tower starting to rise up like Aalii condos in Ward Village. There are many more options coming up in 2022 and with the sales starting soon, it’s definitely time to start paying attention to what’s coming up. Also, places like Aalii is almost fully sold with few units remaining, so if there is any interest, now is really the chance.
Because of so many new houses coming on the market, some are concerned about the prices dropping. This is a valid concern, however most experts state that the supply has a long way to catch up with the pent up demand that there is a very good chance the housing price will not ease up. Especially with FED keeping the interest rate low for a few years in the foreseeable future.
There are some other options available, but for today we’ve highlighted Kakaako as that is the neighborhood has the most active developments taking place.