Mahalo to Darin Moriki for quoting me in Friday's Pacific Business News. The article, below:
As sales for luxury condominiums in Honolulu's Kakaako area begin to ramp up, those working with prospective buyers say the demand seems to be steady and will likely mirror or exceed those for nearby projects that have come online in recent years.
The Howard Hughes Corp. reported that about half of the 234 owner-occupant units in the Aeo mixed-use residential high-rise in Ward Village were sold over a four-day period last week after a public lottery for them began. More than 110 units had been sold to local residents.
Sales for 14 three-bedroom, three-story homes at The Townhomes at The Collection in Kakaako also began around the same time. They are located on the former CompUSA site bounded by Ala Moana Boulevard and Auahi, South and Keawe streets in Kakaako and are part of a mixed-use development by Alexander & Baldwin Inc. affiliate A&B Properties Inc. Starting price: $1.7 million.
Jack Tyrrell, who owns his eponymous Jack Tyrrell & Co. real estate company and specializes in luxury condo sales, says there has been no shortage of demand for units in Ward Village’s three mixed-used residential complexes: Waiea, Anaha and Aeo.
In May, The Howard Hughes Corp. said that its two other towers under construction, the 171-unit Waiea and the 311-unit Anaha, were more than 75 percent sold.
“I would say the demand is many more times than the number of units that are available for the number of people who have appointments to select units,” Tyrell said. “They oversubscribed, so I think it’s going to be very successful.”
It’s not just Mainland or international residents who are seizing the opportunity to live within the first phase of The Howard Hughes Corp.’s redevelopment across its 60-acre master-planned community.
“There’s a lot of locals,” Tyrrell said. “I saw a lot of people who I knew there. Some are families who are helping to buy the first home for their son or daughter, or even for their grandchildren who are young adults who are just starting off.”
Tanna Dang, who operates her Eden in Love womens wear boutique in Ward Warehouse, said she and her husband purchased a condominium nearby in the 341-unit Waihonua at Kewalo project in Kakaako “because we want to live, work and play in this area.”
“I see this community as being so vibrant,” Dang said. “For us, I’m not worried — I know the changes are going to happen, I know the redevelopment is coming, and I think it’ll be good for the whole community. I think change is really good.”