Ililani

AFFORDABLE SALES HAVE LAUNCHED! 
Sales gallery is open. Please register your interest below if you’d like to set up an appointment. Mahalo!

AFFORDABLE SALES DEADLINE: AUGUST 24, 2019, 5PM

 

If you’re interested in the market-priced units, please contact us so we can let you know when market-priced units are announced.

 

Ililani Rendering

The next condominium on the rise in Kakaako is Ililani which will feature a mix of affordable housing and market units. It’ll be located on the corner of Keawe St. and Halekauwila St. This project will be designed by Kenneth Kai Chang and developed by Kam Development LLC. 

 

42-Story Tower (400 Ft Tall)
328 Residences
165 Affordable Units
163 Market Units

8 units per floor
Lobby and Reception Desk
24-hour security
Private Ililani-owned Exclusive Fleet of Car-Share Vehicles
Pet Friendly, no more than two (2) pets, 35lb max each, per unit.
Dog wash Area
Bike and Surfboard Storage
Ground Level Retail and Restaurant Space

Affordable 1-bed Prices: $312,000-$584,000
Affordable 2-bed Prices: $373,000-$657,000
Market Prices: TBD
Maintenance Fee: Est. $0.58/sqft including water, sewer, common area maintenance

Completion targeted for 2021.

 

Lower Level Floor Plate

Upper Level Floor Plate (Floors 16-42)

Residences

Units will have a range of ocean, mountain or city views

  • All units will have a lanai split air conditioning system
  • Washer and dryer in each unit
  • GE and Samsung Appliances
  • Kitchens and bathrooms will feature quartz countertops
  • wall to wall carpeting and luxury vinyl tile

1 bedrooms: 511-578 interior sqft
Lanai: 63-89 sq ft

2 bedrooms: 772-826 sqft
Lanai: 67-89 sqft

 

Location

Located on two lots, 615 Keawe and 690 Halekauwila St., Iliani will have all the conveniences of urban Honolulu in the trending Kakaako neighborhood. Close enough to downtown where residents have the option to bike or walk to work. Minutes away from restaurants, grocery, fitness/gym, office supply shops, parks, and more. This growing neighborhood is just a short distance away from multiple entertainment options in Ward Village, Ala Moana, and Ala Moana Beach Park/Magic Island.

 

Amenity Deck (8th Floor)

1. Community Gardens

2. Barbeque Grills

3. Cinema Experience

4. Lawn Activities

5. Citrus Grove

6. Splash Pool

7. Relaxation Area

 

Affordable Housing

With each new condo project that comes up in Oahu, there tends to be a little change or clarifications on their affordable guidelines. Ililani’s affordable units will fall under HHFDC’s affordable guidelines. (From The Central Ala Moana, will be updated with Ililani when info is released)

 

Elibility Requirements 

  1. US Citizen
  2. 18+ years old
  3. Resident of Hawaii
  4. Shall physically reside in the unit purchased
  5. Does not own a majority interest in a fee simple or leasehold property in the world
  6. Has sufficient gross income to qualify for the loan to finance the purchase
  7. Has a need for housing in accordance with the law

Note: Applicants must maintain eligibility until home purchase is complete.

Affordable Restrictions

  1. HHFDC Buyback Program – Requires owner to occupy the unit as a primary residence for 10 years. If for any reason owner needs to sell, HHFDC has the first right to purchase back the unit. (After 10 years, owner is able to sell the unit at market value)
  2. Shared Appreciation Equity (SAE) – It is the sharing of the property’s net appreciation with the HHFDC in exchange for the buyer’s opportunity to purchase unit at below market prices. SAE can be paid back anytime after owner moves in. It’s calculated based on a percentage and what the unit appraised for at closing. 

Income Limits

Applicants must also fall under the 140% Average Median Income (AMI) depending on their family household size.

Includes sum of gross monthly income from all household members, 18 and over.

  • full-time job
  • part-time jobs comprising a 40 hour work week
  • cost of living allowance (COLA)
  • Dividends
  • Interest
  • Royalties
  • Pensions or annuity distributions
  • VA compensation
  • net rental income
  • alimony or child support
  • social security benefits
  • works compensation

Does NOT Include:

  • Overtime income
  • Bonuses (not customarily paid)
  • other income from secondary part-time employment

 

Project Lenders

Part of the application process is meeting with a project lender and getting a pre-qualification letter. You must obtain a prequalification letter from the one of the chosen project lenders. The buyer may choose to go with a different lender for the mortgage loan though. If you need a lender recommendation, please feel free to reach out. 

Guaranteed Rate
Compass Home Loans
First Hawaiian Bank
Bank of Hawaii
Central Pacific Bank

 

Process – Please register your interest in our contact form below to get started on the sales process. The application deadline will come up quickly. Let us help you get started!



Make sure you have a Buyers Agent!



* I do not represent the developer nor am I part of the sales team. I make no representations on their behalf. If you want information directly from the sales office I urge you to contact them directly. If you would like me to help represent you as your real estate professional I would be happy to meet with you. 

Hawaii Starts Here | Joseph Castaneda (RA)

Joseph is realtor-associate with Better Homes and Gardens Real Estate Advantage Realty. He majored in finance and has experience as a former mortgage loan originator for a local bank. He has helped buyers both with new project loans and going through the process of applying and obtaining units in new projects. He uses his finance, mortgage, and real estate knowledge to help home buyers find the right properties to fit their needs. Contact Joseph by phone or email at (808) 351-8394 or JosephC@BetterHawaii.com