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

Ālia — Kobayashi Group, at 888 Ala Moana. Market-led, with 417 market units alongside 40 reserved homes; it broke ground in 2024.

Ililani — a 42-story high-rise at Keawe and Halekauwila, pairing HHFDC-qualified affordable units with market-rate homes.

Kahuina — 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 — ProsPac, at 728 Ala Moana. A mixed-use building with pre-sales and owner-occupant sales active on its housing inventory.

Ko Laila (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 — Koa Partners with Castle & Cooke Hawaiʻi, at 756 Auahi. Planned at 1,032 homes, again near 60% affordable. Groundbreaking is anticipated in 2026.

How HCDA Reserved Housing works

Under HCDA's Reserved Housing 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 (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.