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# Kakaʻako's Latest Affordable-Housing Wave Takes Shape
- URL: https://poolside.ghost.io/kakaakos-affordable-housing-wave-takes-shape/
- Published: 2026-09-01T23:06:13.000Z
- Updated: 2026-09-01T23:15:54.000Z
- Description: A cluster of new towers is putting workforce and reserved units at the center of the district's next chapter.
- Author: Jason Taira
- Tags: Community

Several projects are now planned or underway in Kakaʻako, with a meaningful share of homes offered at below market prices.

[**Ālia**](https://www.alia888alamoana.com/?ref=poolside.ghost.io) — Kobayashi Group, at 888 Ala Moana. Market-led, with 417 market units alongside 40 reserved homes; it broke ground in 2024.

[**Ililani**](https://liveililani.com/?ref=poolside.ghost.io) — a 42-story high-rise at Keawe and Halekauwila, pairing HHFDC-qualified affordable units with market-rate homes.

[**Kahuina**](https://mykahuina.com/?ref=poolside.ghost.io) — Stanford Carr Development, at Cooke and Auahi. Two towers, Lamakū and Māmalu, roughly 861 homes, with about 60% designated affordable or workforce. Sales are underway; completion is expected around late 2028.

[**Kaliʻu**](https://kaliualamoana.com/?ref=poolside.ghost.io) — ProsPac, at 728 Ala Moana. A mixed-use building with pre-sales and owner-occupant sales active on its housing inventory.

[**Ko Laila**](https://www.onepacificrealty.com/ko-laila?ref=poolside.ghost.io) **(Block P-3)** — the State's own pilot, revived after Senate Bill 2061 eased the leasehold terms that had stalled it. Built on a 99-year lease meant to lower upfront purchase costs, it now limits owner-occupant rules to reserved units and trims the mandatory timeline from *perpetuity* to *ten years*. HCDA is targeting presales in the first quarter of 2027, pending final rules and financing.

[**Waiakoa**](https://www.waiakoaresidences.com/?ref=poolside.ghost.io) — Koa Partners with Castle & Cooke Hawaiʻi, at 756 Auahi. Planned at 1,032 homes, again near 60% affordable. Groundbreaking is anticipated in 2026.

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**How HCDA Reserved Housing works**

Under HCDA's [Reserved Housing](https://dbedt.hawaii.gov/hcda/reserved-housing/?ref=poolside.ghost.io) program, developers set aside a share of new units — often around 20% — for *local,* moderate-income buyers to purchase at below market prices.

**Eligibility Requirements**

- At least 18 years old
- Hawaiʻi resident, living in-state, and a U.S. citizen or resident alien
- First-Time Homebuyer – No majority ownership of a home in the past 3 years
- Never bought a reserved or workforce unit before

**Income Tiers** – [Area Median Income](https://www.honolulu.gov/dhlm/income-guidelines/?ref=poolside.ghost.io) (AMI)

- Affordable Housing (typically 30%–60% of AMI)
- Workforce Housing (typically 60%–140% of AMI), varied by project

**While you own**

- The unit must be your primary residence for the full regulated term
- Term length is set by the unit's affordability level, not your income: 10 years (under 100% AMI), 5 years (100–119%), or 2 years (120–140%)

**If you sell**

- During the term, HCDA holds a first option to buy it back at a set, non-negotiable price
- You also share part of the appreciation with the authority, per its formulas
- After the term ends, you can sell at market — once any shared equity is paid and you secure a Release of Unilateral Declaration

*The HCDA determines eligibility. Terms vary by project and may change over time.*