The Central Ala Moana
1391 Kapiolani Boulevard, Ala Moana
Key Details
Condo
Sold Out
Completion: 2021
513 Units
43 Stories
Pricing
Maintenance Fee: $0.69/sf
Price Range: Affordable Units $286K - $708K,
Market Units $580K - $1.398M
UPDATE: This project sold out of predevelopment units.
The Central Ala Moana at Ala Moana Overview
The Central Ala Moana is a 43 story glass and concrete high-rise structure that features 512 residences with 310 affordable units reserved for individuals who qualify under the HHDFC Rules for income and asset restrictions.
The Central has an improved location, more amenities and most importantly, more affordable units. Over half (60%) of the 512 residences will be reserved for those who qualify under the HHDFC (Hawaii Housing Finance & Development Corporation) program requirements. This is the largest offering of affordable housing ever in Honolulu and tons of people will be jumping at the chance to get in.
Pricing
As of 11/7/18, price ranges have been confirmed as follows:
HHFDC Affordable Housing Program (310 Units):
|
Studios: |
$286,000 - $399,500 |
|
One Bedroom: |
$396,000 - $566,000 |
|
Two Bedroom: |
$493,000 - $637,000 |
|
Three Bedroom: |
$700,000 -$708,000 |
Market Rate Units (202 Units):
|
One Bedroom: |
$580,000 - $630,000 |
|
Two Bedroom: |
$777,000 - $998 000 |
|
Three Bedroom: |
$990,000 - $1,398,000 |
Maintenance fees throughout the building are currently set at $0.69/sf.
Amenities
The Central Ala Moana features an amenity deck located on the 11th floor of the building and provides residents a multitude of outdoor activity options. Amenities for residents include a spacious infinity pool, playground and kids pool perfect for family time, a recreational center, barbecue areas, cabanas ideal for intimate gatherings and a fitness center for those who don’ t feel the need to travel to the nearest gym.
Amenities include:
Swimming Pool
Hot Tub
Kid's Play Area and Pool
Gym
BBQ, 9 Grilling Stations
Party Room
Dog Park
6 Cabanas
Building Features:
10-Story Detached Parking Garage with Covered Pedestrian Walking Bridges
Electric Vehicle Charging Stalls Available
LED Light Fixtures
Elevator Lobby: 5 Elevators (1 Service)
Ground Level Commercial Spaces
FOB Entry Key System
Closed-Circuit Television Security System
Reception Desk and Mailroom
Residence Bicycle Storage
Designated Ground Level Loading Zone with Direct Access to Service Elevator
Residences
The residences feature spacious, efficient floor plans that all come with floor-to-ceiling glass and spacious lanais to enjoy the view. The building is pet-friendly and there will be at least 1 parking space assigned to every unit. Inside the residences you'll find Samsung kitchen appliances, Washer/Dryer, Cable and Wifi and split A/C systems.
Square Footage:
|
Studios: |
469 - 518 sf |
|
One Bedroom: |
766 - 770 sf |
|
Two Bedroom: |
1,055 - 1,131 sf |
|
Three Bedroom: |
1,317 - 1622 sf |
Floor Plans
To view the Central's floor plans, please click on the layout buttons below.
Location
1391 Kapiolani Blvd
The Central Ala Moana is at 1391 Kapiolani Boulevard, in the heart of the upcoming Ala Moana TOD redevelopment which has been nicknamed "Midtown Ala Moana". Perfectly located between the famous beaches of Waikiki to the busy financial district of downtown Honolulu, it is also adjacent to the Ala Moana Shopping Center, Wal-Mart and a few blocks away from Ward Village and the Ward Entertainment Center.
Commuting will be easy for the residents of The Central Ala Moana as the new Honolulu Area Rapid Transit (HART) rail station terminus is basically next door. The Central Ala Moana is also located in one of the most walkable and bike-friendly areas of Honolulu. But for those who prefer to take their own transportation, there is easy access to Ala Moana Boulevard and Kapiolani Boulevard for speedy entry to the highway for further commutes.
Are You Qualified?
Here are the eligibility requirements established by the HHFDC in order to apply for Affordable Housing Units:
(please scroll down for market-rate unit application process)
- A citizen of the U.S. or resident alien
- At least 18 years of age
- A legal resident of the State of Hawaii who physically resides in the State.
- Shall physically reside in the Unit to be purchased
- Does not own a majority interest in a fee simple or leasehold property anywhere in the world.
- Must qualify for a loan from a project lender, if receiving financing to complete the purchase.
(Project lenders will be Bank of Hawaii, First Hawaiian Bank, Central Pacific Bank, Prime Lending, Home Street, Compass Home Loans, and American Savings Bank.)
If you are a Qualified Resident, you then need to meet the “ Household Income Limit” . This means the maximum income allowed per household. For The Central, the income eligibility will be between 80% - 140% of the area median income.
Below are the 2018 income guidelines by family size.
If your income is within 80% -140% according to your family size, then you qualify as an “ eligible purchaser” , it’ s that simple.
Next let's go over the application timeline step-by-step:
People often ask how the public drawing works and it works just like a lottery system. Numbers are put into a bowl and picked out in random. This is all done publicly to ensure fairness and is overseen by people of multiple agencies.
If you are lucky enough to have your number drawn, next is the property selection ranking. The HHFDC will assign you a priority ranking, which means that they will assess your priority based on income, family size, etc. and make their best judgment as to which slot you will be able to pick a unit come selection day.
Finally, you pick a unit and sign your contract. Deposits for the Central will be 5% of your purchase price.
There is definitely some luck involved but the key to getting in is awareness and preparedness. The first thing you can do is to get a pre-qualification letter ready. Please contact us, we can get you in touch with a project lender that is working on The Central.
Please note: the HHFDC has two required programs you must agree to in order to purchase an affordable unit.
Buyback Program requires that the owner occupy the unit purchased as its primary residence (owner occupancy) for 10 years or the duration of the program.
SAE Is Shared Appreciation Equity. It is an agreement to share net appreciation in the unit with HHFDC in exchange for the buyer's opportunity to purchase the unit at below market prices.
Market Rate Units:
Market rate means priced according to the market and will be available to owner-occupants first.
Here is the step by step process for market rate:
- There will be a newspaper announcement
- Pick-up Qualified Resident Affidavit
- Meet with a Lender for a pre-qualification letter
- Submit Completed Qualified Resident Affidavit
- Unit Selection: The Central will send out a registration link. You must register your place online as soon as you receive the link. It is on a first come, first serve basis! Meaning the order you register determines the order you select a unit. Very Important!
- Contract Signing
For immediate questions please call Isaiah at (808) 721-3747 or email info@condokakaako.com.
Units Available
You don't want to miss this rarely available, high floor, front-corner unit at The Central Ala Moana. This sought-after 2 bedroom, 2 bath floor plan features direct Pacif...
- 2 Beds
- 2 Baths
- 202321311 MLS
- FS - Fee Simple Tenure
- The Central Ala Moana Bldg.
- 6 DOM
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2023 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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