Ililani Condo Project Breaks Ground in Kakaako
The groundbreaking of Ililani condos comes on the heels of the project's Affordable Housing sales campaign, and marks the genesis of the Ililani's Market Priced unit release. The Affordable Housing sales campaign saw over 560 applicants vying for the opportunity to purchase one of the building's 165 one and two-bedroom units.
With starting prices at $312,000, Ililani looks to make significant contribution to providing affordable home ownership to a city that's long been plagued by low housing inventory and record high housing prices. Eligibility for the Ililani Honolulu Affordable Housing program requires that prospective buyers be owner occupants, with incomes below the 140% area median income limit. This is one of the few affordable housing programs on Oahu with Sky Ala Moana being the only option in Honolulu, and Hoopili in Ewa Beach.
Some of the applicant were denied eligibility for the program because of their incomes were too high, but those were not deemed eligible for the affordable housing component may now apply for the Market Unit release. The market-priced Ililani condos for sale will feature two-bedroom two-bathroom floor plans priced between at $700,500 - $905,000.
Each unit will feature usable lanais, split air conditioning, and while the majority of the units will offer two parking, the Ililani condo project will be the first new condo in Honolulu to offer an "in-house" rideshare program. This program will provide 13 Hui Cars to the condo building, 10 of which will be for the exclusive use of Ililani owners at discount rates, whereas the remaining 3 cars will be available to the public. Developer, Kenneth Kai Chang of Los Angeles, sees the program as a big stride in providing alternative means of transportation to owners while simultaneously relieving the congestion of urban Honolulu.
1/23/19: Ililani developer launches brand new renderings, a lifestyle video, and a major price improvement to it's remaining inventory. Current 2 bedroom, 2 bath, 1-parking units start at $665,000.