Honolulu Condos: Hawaii: Honolulu: Ala Moana

New Condo Conversion - Ala Moana Tower

Located on the Kapiolani corridor in the Ala Moana neighborhood. The hottest area for growth and expansion. Next to Ala Moana shopping center and walking distance to Walmart, Don Quijote and Nordstrom. Buses galore. Pet-friendly. A good place to start...or a place to retire. 3% closing credit if closing occurs before March 1, 2010.

1-Bedroom/1-Bath Apartments from $282,900 (Fee Simple)
2-Bedroom/2-Bath Apartments from $403,500 (Fee Simple)
2-Bedroom/2-Bath consisting of two apartments that can be rented separately from $459,500 (Fee Simple)

1617 Kapiolani Blvd., Honolulu, Hawaii (google map) (yahoo map)

Pet Friendly.  A Condo Conversion by Savio.

Check out other active, current condo listings in the Ala Moana neighborhhood, one of the most desirable and convenient areas of Honolulu, Hawaii.

You may also view active, current condo listings in other popular Honolulu Neighborhoods.

Pacifica Condos in Honolulu - Sales Begin - Going, Going, Gone

I had a handful of buyers interested in purchasing a condo at the Pacifica Condo Building in Ala Moana, Kakaako area in Honolulu, Hawaii.  This was a building that was previously built as the Moana Vista, went bankrupt, and was purchased by a San Diego Developer.  Please see other blog posts I have written about the Pacifica Condos in Honolulu.

Believe it or not, sales were advertised to begin Saturday, 2/6/10.  Lines began to form as early as Thursday, and what appeared to be a handful of units available, after previous purchasers from the Moana Vista were given first opportunity, has mostly sold out. 

My clients arrived very early Saturday morning, before light, with the sales office opening at 10:00 am.  They were interested in a 2bd/2ba + den floor plan, on the upper floors, 20 and above, which was selling for a bargain price of $510-520k.  Keep in mind that this was for a primary residence, owner occupied.  These units were limited.

Unfortunately, only a few of those floor plans on those floors were available.  Just before the sales office opened, they were told they were number 66 in line, and that the units they were interested in were in very short supply and had already been spoken for.  Greatly disappointed, they decided to leave and give up.

There may be a few additional options available however........since those who entered into contract Saturday have to provide the seller with a lender pre-qualification letter in five days, there is the chance that a few buyers will not be able to qualify and back out.  Since we were told that no back up offers would be taken, there may be a chance at or around five days for something to become available.  A five percent deposit was required at signing, and an additional five percent deposit is due in thirty days, with the total ten percent becoming non-refundable.  I believe there may be a second chance at this point in time for a few more units to become available when buyers cannot come up with the additional deposit or are not comfortable with the non-refundable policy.

It was interesting to read how the local newspaper put their spin on the situation.  Here's an article that appeared in the Sunday edition of the "Honolulu Advertiser":

At about 5 a.m. on Thursday, a few people began lining up in the parking garage of the Honolulu Design Center furniture gallery. But it wasn't a furniture sale that attracted the group, which by yesterday afternoon had grown to almost 50 people.

The campers in the garage came to buy units in Pacifica, a recently restarted residential high-rise project nearby at 1009 Kapi'olani Blvd.

Sales for most units in the 489-unit tower are slated to begin today at 10 a.m. in an area set up inside the sprawling furniture gallery.

People spending a day or two on lawn chairs and mats on a concrete floor is another sign that more life is returning to the local residential real estate market that sputtered over the past couple of years.

Since the latter part of last year, the number of sales of previously owned homes on O'ahu has been on the rise, and prices appear to be slowly firming up.

To be sure, the camp-out for Pacifica wasn't close to the turnout that some projects experienced several years ago, when hundreds of prospective buyers outnumbered available units at various condo tower projects around Honolulu. Still, the gathering was a pleasant sight for the local real estate industry.

"People are still looking to buy," said Kiki King, an agent with Coldwell Banker Pacific Properties who snagged a place in line Thursday evening for three clients.

"They're not making any new buildings," added Dean Hanzawa, who was holding a spot for his nephew, a Honolulu Police Department crime lab employee who hopes to become a first-time homeowner.

Dan Nishikawa, director of development for Pacifica developer OliverMcMillan, said he was pleased by the turnout.

OliverMcMillan, a San Diego-based firm, acquired the stalled project makai of McKinley High School from original developer KC Rainbow II LLC in October by paying off a $29.5 million lien filed against the property by general contractor Hawaiian Dredging Construction Co.

KC Rainbow had invested about $65 million in the project previously known as Moana Vista, but ran into trouble in late 2008 after a roughly $100 million construction loan needed to finish the 46-story tower was withheld because too many buyers canceled nonbinding reservations for units.

The derailing of Moana Vista was dramatic considering that 466 people had competed to buy 192 units reserved for owner-occupants at a lottery in May 2006 near the height of the recent real estate boom. Investor demand was also strong for remaining units, but later withered.

OliverMcMillan got favorable deals in acquiring the project and negotiating a new construction contract, which the firm said has allowed it to create better value for buyers.

The company added new amenities, including fitness and party pavilions, two theaters and upgraded interior finishes to the project. It also redrew floor plans to add one- and three-bedroom units to the building previously designed with only two-bedroom units.

OliverMcMillan made some units bigger and some smaller, in the range of 661 to 1,811 square feet, compared with 728 to 1,268 square feet as Moana Vista.

Prices also were broadened, and now range from $385,000 to $1.2 million, compared with about $425,000 to $850,000 previously.

Today, about 265 units go on sale through brokerage firm Heyer & Associates LLC. Buyers are required to make a 5 percent deposit and sign a purchase contract.

Last month, OliverMcMillan gave first priority for buying Pacifica units to 143 people who were committed to purchasing a unit before Moana Vista was canceled.

Of the 143, OliverMcMillan said, it retained about 100 buyers.

"We are grateful for the patience and continued support of those buyers and believe that this is an indication of the strength of this project in the Honolulu market," said Morgan Dene Oliver, OliverMcMillan's CEO.

Another 124 units will be offered for sale at a later date under a state affordable hous-ing program that places restrictions on buyer incomes, unit resale terms and prices.

OliverMcMillan expects to resume major construction on the tower in April.

Ko'olani Condo in Ala Moana - Another Great Condo Listing

Great New Condo Building, Wonderful Location, Amazing Views!

Ko'olani Unit #4209

The BEST floor plan on the cool side of the building. Spacious living area and dining area. Upgraded with laminated wood floors and lowered counter top. Better than new. Shows pride of ownership. Top of the line appliances. Granite counter tops, marble floors. Beautiful views of mountain & ocean. Great amenities like pool, whirlpool, six BBQ areas, putting green, two tennis courts, dog park, business center with a conference room, media room, large and small party rooms, billiard room and 24 hour fitness center. Most desired location, across from Beach park, surfing, Ward Center. Walking distance to theatres, malls, bookstore & restaurants.
Listed at $998,000 (Fee Simple)

Listed at $998,000 (FS)

See More Photos of Ko'olani, Ala Moana

For Ko'olani Building Details and more Ko'olani Current Listings please visit our website at www.HNLCondos.com.

Ala Moana Beach Park, Magic Island - Honolulu City By Night

Ala Moana Beach Park is one of my favorite places as it is a very quick and easy escape, llocated just a couple of blocks from where I livein West Waikiki.

I had the most wonderful night with a friend. When I finsihed work, I had a great idea and called a good friend. I suggested that we bring a bottle of wine, pick up some food at Ala Moana Shopping Center and cross the street to watch the sunset go down from Magic Island at Ala Moana Beach Park. My timing couldn’t have been more perfect.

I rushed home, took a quick shower and changed my clothes. My friend had already gotten off of work and was ready to go. Unfortunately by the time we got out the front door it was 6:20 p.m. We knew we would miss the sunset entirely. The sun sets around 7:00 p.m. and we still needed to pick up food from Shirokiya. We continued with our plan anyways. We could still catch the dying light. Even after the sun has set the sky is still beautiful and alive with shades of red, orange and yellows.

We pick up food at Shirokiya from Ala Moana Shopping Center because they have Japanese bento style foods that we both like. We took the bentos to go. We were both hungry and excited to start eating. We bought stir fried lotus root, tako balls with benito shavings, seaweed and kabocha squash. We were trying to find a small tray of simple mochi for dessert but we couldn’t find any. We did find sweet potato dumplings instead. They were so delicious. We had a really good light but flavorful pinot noir that I had brought back with me to go with it all.

We parked our car and walked into Magic Island, a section of Ala Moana Beach Park. We wanted to sit on one of the benches that face out to the ocean towards the sunset but we ended up sitting at the first bench that we saw. It was angled mainly facing the city instead of out into the ocean. It was fine with us. The other benches looked occupied already. We opened up our bentos, placed them between us, uncorked the wine and filled our glasses.

Magic Island is such a great place to be at this time. It’s not completely isolated where we were the only ones there. A few families were still sitting at their picnic areas enjoying each other’s company. We saw couples and friends sitting at the tables. Fishermen were on the rock wall with their lines and lanterns. We saw one person on the shore with a light. I assumed he was trying to catch bait fish.

Though we missed the sunset we still enjoyed a great view of the city and the night lights coming on. It was a most beautiful evening. We sat on the bench eating the most delicious foods and drinking a great glass of red wine. Watching the day light fade away and seeing the city lights brighten was a nice experience. Ala Moana Shopping Center shining below and above the tree line of Ala Moana Park was a most interesting site.

As we ate I explained the group of lights that we saw in the distance crawling up the side of the mountain slope as being Pearl City. Then looking at the city buildings I told him what I knew about them.  At least I knew which building was which when we looked at them before it got too dark to distinguish them at night. We discussed which building we liked better. When we finished with our dinner, we lingered on to enjoy the city skyline.

While we sat there we had a nice surprise. I was looking at the city enjoying my wine when I noticed that everything got a little brighter. I looked around thinking that it was a car. Then I noticed our faint shadow on the ground. It turned out to be the moon. It was a little more than half full and it was so bright that it cast our shadows in front of us. It was a beautiful evening with great company, good food, good wine and a terrific view. We walked back to the car feeling extremely satisfied.

Ala Moana and Kaka'ako - Two Great Neighborhoods in Honolulu

The mostly high-rise condominium and low-rise apartment communities of Ala Moana-Kaka'ako are Oahu's major shopping and cultural centers. Ala Moana is home to Ala Moana Center, Hawaii's largest shopping megalopolis, with over 200 shops and restaurants in a setting of lush landscaping and colorful fish ponds.

Kaka'ako is Oahu's cultural headquarters. The fine arts collections of the Honolulu Academy of Arts are here, as well as Hawaii's leading entertainment complex. Showcased at Blaisdell Center, Concert Hall and Exhibition Hall are the Honolulu Symphony Orchestra, live broadway shows, major concerts and exhibits and trade shows of all kinds.

The Kaka'ako waterfront is now the focus of highly significant, image-setting state activity. In the planning stages are a world-class aquarium, gathering place, Ocean Science Center and ocean park.

Wide, tree-lined Kapi'olani Boulevard, with its affluent condominiums, office buildings and elegant auto dealerships, is the focal point of Kapi'olani. Affordable low-rise apartments and older homes lie in a criss-cross of streets mauka (toward the mountain) of the boulevard.

For more detailed information about Ala Moana and Kaka'ako condo buildings please visit our website at www.HNLCondos.com.

Current Ala Moana Condo Listings

Current Kaka'ako Condo Listings

Nauru Tower Chosen as Hawaii's Building of the Year

Nauru Tower, located in the Ala Moana neighborhood, was chosen as Hawaii's Building of the Year by the Institute of Real Estate Management for its efforts to create a more sustainable living environment for the building's residents and businesses.

In the past 18 months, the luxury condominium building at 1330 Ala Moana Blvd. has been transformed to include the latest environmentally friendly equipment and make more efficient use of common areas. These improvements have helped to cut costs, conserve natural resources and reduce waste and energy.

New initiatives include the use of biodegradable cleaning products free of phosphates and other chemicals; the installation of low-energy light bulbs throughout the residential building structure, common areas and service rooms; and window glass tinting for the expansive 4,000-square-foot makai lobby.

Future plans include researching the use of solar panels to meet the building's hot-water needs, as well as the installation of timed drip irrigation and low-energy lighting throughout the main lobby gardens. Major 2009 environmental initiatives included putting in new cooling towers, repainting the building and upgrading ventilation.

Please feel free to visit our website, www.HNLCondos.com and view Nauru Tower Condos Current Listings and more photos of Naura Towers.

Moana Vista to be Renamed Pacifica - UPDATE!!

Condo Tower in Ala Moana Neighborhood gets new Name and New Money.

The San Diego development company that bought the unfinished Moana Vista condominium tower plans to spend $110 million to restart and upgrade the project, now known as Pacifica.

Pacifica will create work for dozens of local companies and generate 400 construction jobs over the next two years, its new owner says.

OliverMcMillan is redesigning the 46-story building's exterior, unit mix, layout and ground-floor retail space to give it a higher-end feel, and adding 4,000 square feet of amenities on a fifth-floor recreation deck.

The firm is working on obtaining approvals for the changes from the Hawaii Community Development Authority and expects to restart work on the project in March.

The project represents a foothold in Hawaii for OliverMcMillan, a 31-year-old development firm that specializes in urban mixed-use communities.

The firm, which has formed a Hawaii-based subsidiary, OliverMcMillan Pacific, has already been talking to large local landowners Kamehameha Schools and Queen Emma Land Co. about mixed-use projects in Kakaako and Waikiki.

"We've been looking for a project for quite some time to enter the market," said CEO and founder Morgan Dene Oliver, who plans to purchase a unit at Pacifica for his own use. "Until this project, we had not found the right opportunity."

OliverMcMillan picked up the half-finished Moana Vista project earlier this year after buying a $29.5 million lien that had been filed by Hawaiian Dredging Construction Co. OliverMcMillan acquired the interest owned by the project's original developer, KC Rainbow II.

The firm has so far spent $40 million in cash of a total $150 million estimated cost, Oliver said. First Hawaiian Bank is financing a $50 million construction loan; the balance of the money will be funded in cash by OliverMcMillan and the firm's equity partners in Boston.

KC Rainbow II owner Fred Chan reportedly lost about $65 million of his own money on the building before selling his interest to the San Diego developers, which means OliverMcMillan acquired the project at a hefty discount.

The developer plans to pass along some of that savings to buyers, starting with the 175 original buyers who had their purchase contracts canceled by KC Rainbow II in September.

The buyers, mostly local people who had put down 10 percent on units ranging in price from $350,000 to $600,000, will start hearing from OliverMcMillan this month and will be given the first shot at purchasing a unit at a discounted price before sales open to the public in late January, Oliver said.

"Our feeling is they hung in there," Oliver said. "They will have the opportunity to buy the units below what the other units are trading at."

Prices for the units, which are being reconfigured from 492 two-bedroom apartments to 489 one-, two- and three-bedroom units, have not yet been set. One change is that 124 units that were previously set aside for reserved affordable rentals will now be for-sale units for owner-occupants.

A local Honolulu company will handle sales and marketing for the project, and First Hawaiian Bank will offer financing for buyers.

The public will "also get a chance to buy at what we believe is a bargain price," Oliver said.

"It's a competitive construction market," he noted. "We will finish this building at a better cost."

Work stopped nearly a year ago after Hawaiian Dredging and Construction Co. filed a mechanic's lien against KC Rainbow II for the unpaid bills. The contractor filed for foreclosure in April, and the project was set to go to public auction in September, before OliverMcMillan struck a deal to pay off the lien.

Any subcontractors owed money were paid by Hawaiian Dredging, Oliver said. He said other local firms that were owed back fees, including Architects Hawaii, Ltd., Baldridge and Associates Structural Engineering and Lincolne Scott, were paid in full by OliverMcMillan.

Hawaiian Dredging is no longer associated with the project; OliverMcMillan is bringing Ledcor Construction on as general contractor. The construction company, which signed with the Hawaii Carpenters Union about four months ago, will operate a union job site that's expected to generate about 400 jobs.

A few weeks ago, I wrote about the top selling condos in Waikiki. Let’s now look at which ones are selling in the Ala Moana and Kakaako areas. Activity in this area accelerated recently as well. Here are the top selling condos in the last 6 months:

• Ala Moana Hotel Condominium (19 Units Sold)
• 909 Kapiolani (17 units sold)
  
• Moana Pacific (16 units sold)
  
• Hawaiki Tower (14 units sold) - tie
  
•  Hokua at 1288 Ala Moana (14 units sold) -tie

Why?

Ala Moana Hotel Condominium: The average price for all the studio units in Ala Moana Hotel Condominium went down by 48% and the price for one-bedroom units went down by 31% from 2007. There are many Short Sales and Foreclosures in the building, and it is one of the reasons why the prices are coming down dramatically. Studio units are available from $85,000.

909 Kapiolani: The average price for one-bedroom units were down by only 3%, but the price for two-bedroom units dropped 14%. This is one of the newest buildings in Honolulu, and the developer still has some units to sell. Two-bedroom units are available from $655,000 and from $1,250,000 for three-bedroom units.

Moana Pacific: The average price for one-bedroom units went down 16% and the price for two-bedroom units dropped 14%. This condominium is going through possible litigation, but portfolio loans are still available with 20% down payment. One-bedroom units are available from $450,000, two-bedroom units from $535,000 and from $630,000 for three-bedroom units.

Hawaiki Tower: This condominium is consistently popular due to its location, high quality and low maintenance fee, and its value hasn’t gone down even in this economy. The average price for two-bedroom units actually went up by 0.3%. Two-bedroom units are available from $609,000.

Hokua at 1288 Ala Moana: The average price dropped 22% for two-bedroom units and 31% for three-bedroom units. This condominium was going through litigation for about 2 years, and this has affected prices. Units are available from $1,350,000 for two-bedroom units and from $2,345,000 for three-bedroom units.

If you would like more information, please feel free to contact us.

Best Buy in Hokua - Ala Moana, Honolulu, Hawaii

This has to be the best buy in Hokua, a luxury high-rise condo building located in the Ala Moana neighborhood, just west of Waikiki, in Honolulu, Hawaii.

Most Preferred 'E' floor plan on high floor:

Popular 'E' model facing Diamond Head side. Beautiful vws of Diamond Head, coastline, Magic Island & Hilton fireworks on Friday nights. Bedrooms are separated by living room & you have ocean views from everywhere. 9' ceiling. Sub-zero/Wolf appliances. Used as a second hm & looks like brand new. Walking distance to theatre, dining, shopping, beach, park & future Whole Foods store. Great amenities. Three parking stalls are included. Furnishing sold separately.

MLS: 2914850
Year Built: 2006
Interior: 1,531 sf
Lanai: 39 sf
Total: 1,570 sf
3 parking stalls w/ storage lockers
Maintenance Fee: $1,164/mo.
Property Tax: $542/mo.

Listed at $2,145,000 (FS)

For More Photos

This listing is not my own, however, I am able to represent any buyer in a transaction.  Please let me know if you would like more details about this stunning property.

Honolulu, Ala Moana Condo for Sale - Great Income, Stunning Views - Prime Location on 20th Floor

Did I mention how amazing the veiws were?

It's rare to find a condo that has been totally renovated and upgraded, in a first class building with tons of amenities, a first class location and offering stunning Pacific Ocean views.........all with rental income, plus the flexibility of personal usage.

This Ala Moana Hotel Condo offers it all!  You can place the condo in the hotel managed rental pool, rent it out on your own as a vacation rental and still use it at your own convenience.

Here are some details:

410 Atkinson Dr 2007
Honolulu, HI 96814


Price: $499,999

1 Bedrooms, 1 Bathrooms
559 Square Ft

Listing # 2914704

View Photo Gallery (10)

STUNNING PANORAMIC OCEAN & SUNSET VIEWS. Highly desirable 20th floor, one-bedroom unit with double door entry, living room with sliding glass wall opening to the views, kitchen, separate bedroom with private lanai and forever sweeping views of the ocean, marina, Ala Moana Park and downtown Honolulu. Spacious bath, nicely furnished. Many, many hotel amenities. MAJOR PRICE REDUCTION! 

Features:

Acres: 3.046
Region: Metro
City Name: Honolulu
County Name:
Neighborhood: ALA MOANA
Schools: Ala Wai
State: HI
Sub Area:
Subdivision:
Type:
Zip: 96814
Bathrooms: 1
Bedrooms: 1
Partial Baths:
Square Ft: 559
Additional Features: Additional Rooms: Den/Study,Dining Area,Eat In Kitchen/Nook,Open Lanai
Amenities: Club House,Community Laundry,Concierge,Doorman,Exercise Room,Heated Pool,Other,Patio/Deck,Pool,Recreation Area,Restaurant,Sauna,Security Guard,Valet
Building Name: Ala Moana Hotel Condo
Building Style: Condotel,High-Rise 7+ Stories
Floor Covering: Ceramic Tile,W/W Carpet
Frontage: Other
Furnished: F
Interior Living Area: 503
Land Area: 132664
Maintenance Fee Includes: AC Central,Cable TV,Electricity,Hot Water,Internet Service,Sewer,Water

Ala Moana Hotel Condo Unit #2007 Listing Details

Ala Moana Hotel Condo Unit #2007 Virtual Tour

Other Ala Moana Hotel Condo Listings ($85,000 to $1,200,000)

Ala Moana Hotel Condo Website