ABOUT KAKA'AKO

Kaka'ako Neighborhood

History of Kaka'ako

Kaka'ako is a booming residential and commercial district located near Ala Moana, Downtown Honolulu, and Waikiki. It's well-known for its stellar housing options, walkability, and city life.

In ancient times, it was a thriving native Hawaiian fishing village that produced salt.

Around the 1800's it turned into an industrial and residential hub, and by the 1900s, it was primarily a commercial district.

 Fast forward to present times, and you can now find a thriving mixed-use residential and commercial district. The area now has numerous high-rise housing developments, retail spaces, parks, and beach access points.

Two development projects were the catalyst for this change, including the "Our Kaka'ako" project, led by Kamehameha Schools and Castle and Cooke Homes Hawaii, Inc., as well as the Ward Village development led by the Howard Hughes Corporation. 

If you are interested in knowing more about this area's real estate, here is a general overview:

Kaka'ako Real Estate

Key features:

The Kako'ako neighborhood is a revitalized urban core that mixes residential areas, wide streetscapes, business, shopping, and recreation.

It has a growing worldwide reputation and is quickly becoming the island's hottest real estate market.

The area's residential properties are luxury high-rise buildings with a few affordable and entry-level housing options mixed in.

Having a car for daily necessities is not essential in this neighborhood. There are grocery stores such as Whole Foods and H Mart within walking distance of residential properties.

Kako'ako has world-class shopping at unique retail destinations that include SALT at Our Kaka'ako and the South Shore Market.

There are numerous green spaces, including Kaka'ako Waterfront Park, Kewalo Basin Park, Victoria Ward Park, and Ala Moana Beach, for residents to enjoy.

What makes the area's culture so vibrant is its lively graphic murals, rich culinary offerings, and art festivals that blend the island's native Hawaiian roots with modernity.

Developments:

Our Kaka'ako

Kamehameha Schools is the developer for this nine-block planned community. Its vision is to house a blend of entrepreneurs, chefs, artists, innovators, and influencers in a mixed shopping, dining, working, and living space.

Currently, you can find a mix of residential buildings side-by-side with commercial districts.

Condos include both rental and permanent residences. Spaces that are a part of the Our Kaka'ako development include Six Eighty, The Flats at Pu'unui, Keauhou Lane, Keauhou Place, The Collection, and 400 Keawe.

Mixed in with these residences is SALT, an 85,000 square foot retail block with local food, retail areas, and social spaces. 

Ward Village

Ward Village is a mixed-use development constructed by the Howard Hughes Corporation. This developer owns 60 acres of land in the Kaka'ako, making it the neighborhood's largest landowner.

Architectural Digest rated Ward Village "The Best Planned Community in the U.S." in 2017. This rating comes from the area's walkability, bike-friendly streets, and energy efficiency.

Ward Village is still far from completion, but it already has many features.

There is already a Whole Foods Market for grocery shopping and South Shore Market, full of 18 locally owned merchants and retailers.

Apartment complexes already completed include Ke Kilohana, Ae'o, Anaha, and Waiea.

Property Values in Kaka'ako

The property values for condominiums in Kaka'ako range depending on the type of accommodation and number of bedrooms and bathrooms.

The price for a new, one-bedroom condo starts around $500,000 and can go up to over a million dollars.

Larger units can sell at prices from $800,000 up to $20,000,000.

Degree of Development and Growth Rate

Currently, Kaka'ako has 12,000 residents. Projections estimate that this neighborhood will grow to 30,000 residents by 2030.

There are 20 new housing projects planned in the upcoming years. Even with a rapid development increase, housing will likely continue to be competitive. 

Kaka'ako has numerous planned urban development projects in the works. Projects started in 2019 include:

Ililani: A mixed-use condo with 328 units -- 165 for affordable housing and 163 for market buyers. It has easy access to grocery stores and restaurants. No prices are available yet. The expected completion for this project is 2022.

'A'Ali'I at Ward Village: This housing complex began market sales at the end of 2017. 'A'Ali ’l has already sold out 80% of its units. Its location is adjacent to Whole Foods and Victoria Ward Park. The cost per unit is $650,000-1,400,000 for a studio or a one or two-bedroom condo. It will be fully complete by 2021.

Ko'ula at Ward Village: Ko'ula is Howard Hughes' 6th tower in Ward Village. This complex is luxury housing designed by influential architects Jeanie Gang and Yabu Pushelberg. Expected completion is in in 2022 selling at $800,000-2,400,000 per unit. It has currently sold out 60% of its condos.

Victoria Place: This purely residential Howard Hughs development at Ward village will have 350 one-, two-, and three-bedroom units. One hundred thirty-seven of these are one-bedroom units, 146 are two-bedroom units, and 77 are three-bedrooms. Unlike the first six Howard Hughs developments, there will be no commercial or retail space included. The anticipated completion date is quarter four of 2022.

Ulana Ward Village: The Ulana Ward Village project by Howard Hughs will have 697 total units, including Reserved Housing units. There will be a new public park as well as commercial and light industrial spaces. An expected sales timeline for this complex is quarter two of 2021.

The Park on Ward: This new site by the Howard Hughs Corporation will have 546 market-priced, mid-luxury units. Its ground floor will have retail space on all sides. Part of the site will go to enlarging the public park. Sales for this unit will start in quarter two of 2021.