Ke‘olu at Koa Ridge

Ke‘olu is the newest affordable condominium townhome series at Koa Ridge, Castle & Cooke’s master-planned community in Central O‘ahu between Mililani and Waipi‘o. Nine floor plans span one, two, and three bedrooms from roughly 565 to 896 square feet, each built around an open-concept kitchen, living, and dining area.

What sets Ke‘olu apart from most affordable offerings on O‘ahu is what happens after you buy. Ke‘olu is part of the City & County of Honolulu’s Affordable Housing Program for households earning 120% of median income and below — but buyers are not subject to a shared appreciation equity (SAE) requirement. Once the ten-year transfer restriction period ends, any appreciation belongs to the homeowner. For a first-time buyer trying to build equity and eventually move up, that is a meaningful difference worth understanding before you apply.

Ke‘olu is released and sold in phases, with applications handled separately for each one. Castle & Cooke describes the community as reserved for local working families earning up to 120% AMI as published by the City & County of Honolulu. The Developer’s Public Report is available at KeoluAtKoaRidge.com.

Ke‘olu at a Glance

The Floor Plans

Nine plans across three bedroom counts. Every home features open-concept kitchen, living, and dining spaces designed for comfort and connection. Living areas are approximate.

Household size is matched to home size under the City’s program, so the plans you are eligible for depend on how many people are in your household. Renderings, floor plans, features, and square footages are approximate and subject to change.

Pricing & Monthly Costs

• Estimated price range: $480,000s to $650,000s, depending on plan and release.
• Maintenance fees — one bedroom: approximately $378 to $380 per month.
• Maintenance fees — two bedroom: approximately $509 to $513 per month.
• Maintenance fees — three bedroom: approximately $598 per month.
• Earnest money deposit: $1,000, submitted with your Reservation / Unit Preference Form.

Get Current Pricing & Availability

Who Qualifies to Buy at Ke‘olu

Ke‘olu is part of the City and County of Honolulu’s Affordable Housing Program. The City — not the developer — determines eligibility based on the information in your Application Packet. To qualify, a buyer must:

• Be a U.S. citizen or lawful permanent resident and at least 18 years of age.
• Be domiciled in the State of Hawai‘i with a bona fide intent to live in the affordable unit.
• Have sufficient gross household income to qualify for the loan financing the purchase.
• Fall within the household income limits — 120% of Area Median Income and below (table below).
• Keep net available household assets under the designated limits set by the City.
• Not have owned a majority interest in fee simple or leasehold land suitable for dwelling purposes — individually or with a household member — for the one year preceding application through escrow closing.
• Not have previously received assistance under any State or county program designed to help people purchase affordable housing.
• Be an owner-occupant throughout the restriction period. The unit cannot be rented out during that time.

2026 Income Limits

Effective May 15, 2026. Figures are set by the City & County of Honolulu and updated annually. Ke‘olu homes are designated for households at 120% of Area Median Income and below.

When you total up household income, the City excludes the income of minor children, full-time students up to age 23, and live-in aides.

Three Program Details That Matter Most

• No shared appreciation equity — Ke‘olu buyers have no requirement to share their home’s future appreciation, if any, with the City. In a market with this little inventory, keeping your own appreciation can be a real advantage for a first-time buyer working toward the next step up the housing ladder.
• Ten-year transfer restriction — The buyback period keeps the home affordable for a minimum of ten years. If you want to transfer title during that window, the City’s Department of Budget and Fiscal Services can either purchase the property itself or require that you sell it to a qualified resident in the same income category, at a price and on terms that preserve the program’s intent.
• Household size is matched to home size — The City sets minimum and maximum occupancy for each home type, so the number of people in your household determines which plans you can apply for. A single person cannot buy a two-bedroom, and a family of six cannot buy a one-bedroom. Confirm your eligible plans before you fall in love with one.

Occupancy Requirements

Set by the City’s Affordable Housing Rules. Ke‘olu offers one-, two-, and three-bedroom homes.

How the Buying Process Works

• Prequalify with a designated lender — The designated lenders for Ke‘olu are American Savings Bank, Bank of Hawai‘i, Central Pacific Bank, and First Hawaiian Bank. Your lender also completes the Income Verification Worksheet that goes into your packet.
• Complete the Application Packet — The City application includes an Affidavit of Eligibility plus full household, asset, and income disclosures for everyone in the home. It is reviewed by the Honolulu Department of Planning and Permitting under the City’s Affordable Housing Rules.
• Watch the educational video — An optional program video covers the eligibility rules in more detail.
• Submit the Reservation / Unit Preference Form — Turn in your completed packet at the Koa Ridge Sales Office along with your lender pre-approval letter and a $1,000 earnest money deposit check. You rank up to three unit preferences on this form.
• Lottery and unit selection — Homes are awarded through a lottery. If your preferred units are unavailable, you can choose from what is available or go on a back-up reservation list for that phase.
• Sign the Sales Agreement — You sign immediately upon selecting an available unit. The reservation form itself is not a sales contract.

What You Will Need to Submit

Start gathering these early — assembling two years of records takes longer than most buyers expect:

• Income Verification Worksheet, completed by your designated lender
• Designated lender pre-approval letter
• The signed Affidavit of Eligibility and City Affordable Housing application
• Photo ID for every household member — Hawai‘i driver’s license, Hawai‘i State ID, government passport, student ID, or a child’s birth certificate
• Two most recent months of bank and financial statements — checking, savings, and CDs as full statements showing interest rate or interest earned; bonds, stocks, and mutual funds noting whether income is received or reinvested; life insurance if it has cash value; retirement account statements noting whether you are drawing income
• Two most recent years of signed State and Federal tax returns with all applicable schedules, W-2s, and 1099s, with Social Security numbers blocked out except the last four digits
• Two months of consecutive pay stubs; for a new job, an employer letter confirming start date and hours per pay period
• Documentation for any other income — Social Security, pension or retirement, investment, unemployment, child support, or alimony
• A written statement from any household member who does not intend to work for a year, which also applies to full-time students age 23 and older
• Latest course schedule for any full-time student under 23
• Miscellaneous supporting documents as applicable — property ownership records, divorce decree, marriage certificate
• A notarized statement verifying your household living arrangement if your documents show different addresses
• The Unit Lottery Application / Unit Preference Form
• A notarized Owner Occupant Affidavit — the original with an original signature must be submitted
• The $75 application review fee, by check payable to “City and County of Honolulu”

Financing Details Worth Knowing

• You are not required to use a designated lender — but if you use an outside lender, you will be charged an additional escrow fee and are responsible for any additional charges from that lender.
• Pre-approval is at the prevailing conventional rate at the time of pre-approval, and includes verification of income, credit history, and funds needed to close.
• No contingencies other than mortgage financing are accepted — including sale of your current home.
• Changes to the primary purchasers must be made before contracting, and a new pre-approval letter has to accompany the change.
• Already applied for an earlier phase? A Re-use Authorization lets you reuse your pre-approval, worksheet, City application, affidavits, and supporting documents if your household size, pay, and asset income have not changed.

City Fees to Budget For

• $75 — application review fee, due with your application.
• $50 — annual monitoring fee on the affordable housing unit.
• $600 — fee to process a homeowner’s request to sell the unit.
• $600 — fee assessed upon transfer of title.

Fees are assessed by the City in accordance with Ordinance 20-18, as amended from time to time. Application deadlines, lottery dates, and unit selection events are set per phase and change often — contact us for the current schedule.

Home Features & Community

Features vary by floor plan; not all features are available in all plans. The developer reserves the right to make design and material changes without notice.

Location & Neighborhood

• In Koa Ridge, Central O‘ahu — south of Mililani Town and north of Waipi‘o, in the 96797 zip code
• Roughly 15 miles from Honolulu, putting the urban core within about a 30-minute drive
• Minutes from the Waipi‘o Costco and Waikele Premium Outlets
• Set at a cooler elevation than the leeward plain, with valley breezes through the neighborhood
• Part of Castle & Cooke’s master-planned Koa Ridge community, alongside Lau Le‘a, Walea II, and Nanea III

Developer & Program

Interested in Ke‘olu at Koa Ridge?

Get current pricing, floor plan availability, and the application deadline for the active release — or talk through whether your household qualifies before you start the paperwork. Connect with us before your first visit to the sales office so we can represent you as your buyer’s agent.

Contact Us