Jack Tyrrell specializes in Kakaako, Honolulu, Hawaii luxury condo projects.

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Howard Hughes Corporation announces indefinite hold on Gateway Towers

Photo: Howard Hughes Corporation

Photo: Howard Hughes Corporation

The Howard Hughes Corporation announced big changes to its Ward Village Master Plan earlier this week. The long-anticipated, ultra-luxury Gateway Towers, designed by famed architect Richard Meier, has been indefinitely placed on hold. Buyers will be refunded deposits and offered other opportunities for homes at Ward Village. Howard Hughes President Simon Treacy also announced plans for elevated walkways that would connect Ward Village to Ala Moana Beach Park and Kewalo Basin over Ala Moana Boulevard, Auahi Street, and Ward Avenue.  The propose walkways would make connections to several Ward Village condo towers, perhaps at second-story levels where retail stores would be, as well as ground connections at points including a central public plaza within Ward Village.

Read more from Hawaii Public Radio, below:

The Howard Hughes Corporation is playing a big role in changing the look of Honolulu’s urban landscape. Simon Treacy joined the company as president in January, and this week he announced the first major changes to the master plan of Ward Village. Pacific Business News editor in chief A. Kam Napier has more.


One of the signature projects of the Ward Village masterplan has been the Gateway Towers, two luxury high rises that would flank the greenspace of the Ward Village Central Plaza, which broke ground last week. Combined, the Gateway Towers would have comprised 236 units and were designed by Richard Meier of Richard Meier & Partners.

Yesterday, Howard Hughes Corp. informed buyers of the Gateway Towers that the buildings have been put on hold indefinitely.

It’s the first major change to the master plan, but not the last according to president Simon Treacy. He also announced this week plans for greener, more park-like experience as Ward Village evolves. The signature piece of this new approach is a proposed, landscaped elevated walkway that would connect Ward Village to Kewalo Basin by going over Ala Moana Boulevard. Imagine something like New York’s High Line as an example of what this could be.

Treacy, with a background in investments and private equity, has lived around the world and tells PBN he views Singapore as a model for urban development.  “Over 63 percent of Singapore is green and we want to have that same level of green around,” he tells PBN.

Other aspects of this move for Ward Village include wider sidewalks with more landscaping and more parks.

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Howard Hughes' new Honolulu tower, Koula, to reserve all of ground floor for retail

Photo: Pacific Business News

Photo: Pacific Business News

The Howard Hughes Corporation has announced plans for its next condominium project, Koula. The proposed mixed-use tower will feature commercial space on the bottom floor, and will will feature 570 studio, one-, two-, and three-bedrooms units across 41 stories. Koula will be conveniently located across the street from the Ward Entertainment Center on Auahi Street, where Consolidated Theaters is located, and across from the new Whole Foods, which will open next week! 

Connect with me directly to learn more about Howard Hughes' latest plans! And, read more from Pacific Business News, below: 

The Howard Hughes Corp. is taking a slightly different approach with sixth mixed-use tower in Honolulu, called Koula, by reserving all of the ground floor of the 570-unit tower for commercial space and moving the lobby and other residential services to the second floor.

Koula, The Howard Hughes Corp's next mixed-use condominium project, is planned for a site on Auahi Street, next to the Ward Entertainment Center, site of the former warehouse buildings, which were recently demolished, as seen here.

Photo: Pacific Business News

The 41-story building is planned for a site next to the Ward Entertainment Center on Auahi Street, where a group of warehouse buildings were recently demolished. The tower will have a mauka-makai orientation, with the long side facing the Ward Village central plaza, a public park that will stretch from Queen Street to Ala Moana Boulevard.

Koula, The Howard Hughes Corp's next mixed-use condominium project, is planned for a site on Auahi Street, next to the Ward Entertainment Center, site of the former warehouse buildings, which were recently demolished, as seen here.
Work on that park space is getting ready to start, and the first phase, which will include grass and landscaping, is expected to be complete by the end of the year. Sales of the 570 studio, one-, two- and three-bedroom units ranging from 300 square feet to 1,500 square feet at Koula are expected to start late this year or early 2019, assuming the developer completes the entitlement process; prices are not available yet. Construction could start in late 2019.

The name Koula — Hawaiian for red sugar cane — was chosen by Hilo-based Sig Zane Designs. The building is being designed by Studio Gang, which is led by architect Jeanne Gang and has offices in Chicago, New York and San Francisco, and the interiors are being designed by the international design firm Yabu Pushelberg, which has offices in New York and Toronto.

This rendering shows The Howard Hughes Corp.'s planned Koula mixed-use condominium in Honolulu. The 41-story building will have 570 units.

Photo: Pacific Business News

“Koula is a transformative next step for Ward Village” Simon Treacy, president of Hawaii at The Howard Hughes Corp. (NYSE: HHC). “It’s connection to the Central Plaza will activate the streetscape in a vibrant outdoor setting that is intended to foster social connection and public recreation in the heart of Honolulu.”

While the building conforms to the developer’s Ward Village master plan, the Howard Hughes Corp. is asking the Hawaii Community Development Corp., which oversees development in Kakaako, for a modification to allow the podium to be built 75 feet high, instead of the allowed 45 feet, said Todd Apo, vice president of community development. The HCDA has scheduled public hearings on the project for June 6 and June 13, with decision making scheduled for Aug. 1.


The developer did the same for its first five buildings — the completed Waiea and Anaha towers, the Aeo and Ke Kilohana towers under construction and the Aalii tower, which will start construction later this year behind the Koula site.

Photo: Pacific Business News


“It allows you to push the parking in and wrap the building with retail,” Apo said. “From a community standpoint, it makes a lot of sense.”

The entire first floor will be leased to retail and restaurants, as well as part of the second floor. The building is also being designed with a public porte cochere that opens to a courtyard and entrance to the central plaza, where people visiting the park, shops or restaurants may get dropped off. “More of a drop-off experience than a parking experience,” Apo said.

Race Randle, senior vice president of development at Howard Hughes, said the initial phase of the central plaza will involve planting grass “that can handle a lot of use” and other landscaping.


“It really starts to activate the heart of the neighborhood,” he said. Eventually, the developer will wrap buildings around all sides of the public park area.

The Ward Village master plan calls for 1 million square feet at buildout. Randle noted that when Aeo and Ke Kilohana, which will include a 23,000-square-foot Longs Drugs store, are completed, Ward Village will have a total of 400,000 square feet of retail, which includes 200,000 square feet at the Ward Entertainment Center.


The new building will have no public parking, but it is adjacent to the Whole Foods Market-anchored Aeo, where public parking spaces are already open.

Meanwhile, the Whole Foods Market is preparing to open its 72,00-square-foot flagship store at Aeo next week, on May 9.

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Anaha Glass-Bottom Pool Featured in National Publication, Travel + Leisure

Anaha's iconic glass-bottom pool has been featured in national Travel + Leisure Magazine. 15 feet of the pool overhangs from the building approximately 80 feet from the ground, creating a "floating in air" effect.

We have a handful of listings for sale and for rent available now, so that you can experience the famous pool for yourself! Contact me for details or visit my website.

Read the full feature by Andrea Romano, below (originally published March 7, 2018), and watch a video above or on Travel + Leisure's website here:

Photo: Travel + Leisure Magazine

Photo: Travel + Leisure Magazine

Are you brave enough to swim in a pool suspended 80 feet in the air?

Anaha, a new 40-story residential building in Honolulu, on Oahu, features artfully designed public spaces, shops, restaurants, and entertainment — but there's one feature that stands out from the rest: a glass-bottom pool 80 feet in the air.

The pool, designed and planned by Surface Design, juts out 15 feet from the side of the building, giving swimmers a beautiful view and a feeling of floating in air. (It’s probably not the best for people with a fear of heights.)

Meaning “reflection of light,” Anaha is designed with curved floor plates and a curtain-wall façade that give the entire building the appearance of a wave of water, glistening in the sun.

The building was designed by Chicago-based Solomon Cordwell Buenz, in partnership with Benjamin Woo Architects, and features an 80-feet by 15-feet “living wall” with 8,000 tropical plants that greets anyone who comes through the front doors.

Next to the pool is the building’s amenity deck, where residents can sit in the sun on relaxing chairs and loungers.

Anaha offers 244 studios and one-, two- and three-bedroom tower residences as well as 73 low-rise flats and townhomes. Residents can enjoy views from the beachfront to Diamond Head, and from Kewalo Harbor to the gorgeous sunset.

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Industry News: Oahu condos back up to record prices, single-family home sales take off

Photo Property of Jack Tyrrell and Company

Photo Property of Jack Tyrrell and Company

Read more about September's hot condo market, as reported by Pacific Business News, below:

Home sales on Oahu soared in September on slight price gains, compared to the same month last year, while the median price of a condominium jumped 11 percent to tie with the record set over the summer, according to statistics released Friday by the Honolulu Board of Realtors.

There were 374 single-family home sales on Oahu last month, which was 13.7 percent more than the 329 sales in September 2016. The median price of those homes sold rose to $760,000, which was 1.3 percent higher than the median price a year ago, which was $750,000.

The median price of a condominium, however, rose 10.9 percent to $425,000, tying with the all-time record price set in July, from $383,250 in September 2016. Sales of condos rose 2.7 percent in September to 526 units sold, from 512 units sold during the same month last year.

The number of days on market for single-family homes dropped by 12.5 percent to 14 days, while condos were on market an average of 19 days, compared to 20 days a year ago, a decrease of 5 percent.

“Despite sales prices hitting the record-high twice in one year, condos and townhouses are still proving to be a popular alternative for homebuyers as evidenced by the 11.6 percent increase in pending sales," Sue Ann Lee, president of Honolulu Board of Realtors, said in a statement. “The continued need for affordable housing and lack of sufficient inventory to meet this growing demand can be demonstrated by the decrease in new listings and 5 percent decrease in days on market.”

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Industry News: Condo sales hit decades high in August 2017

Photo: Waiea at Ward Village, as viewed from Ala Moana Beach Park. Photo is property of Jack Tyrrell and Company.

Photo: Waiea at Ward Village, as viewed from Ala Moana Beach Park. Photo is property of Jack Tyrrell and Company.

Honolulu condo sales do not show signs of slowing down. Last month, condo sales in Honolulu hit its highest level in more than a decade, jumping 20% as compared to August 2016.

Read the article from the Honolulu Star Advertiser, below:

Oahu’s condominium market stayed hot in August, as buyer demand for condos hit its highest level in more than a decade after a price record set in July.

The Honolulu Board of Realtors said in a report released Wednesday that the number of condo sales on Oahu jumped 20 percent to 575 last month compared with 481 a year earlier.

There hadn’t been as many sales for a single month since August 2006 when 580 condos were sold in the midst of the prior housing market boom on the island. The all-time monthly record was set in August 2005 at 831 sales.

“Although this August’s condo sales did not break the record-high of 831 … it is still the highest we’ve seen in 11 years,” Sue Ann Lee, president of the Board of Realtors and a broker with Properties of the Pacific, said in a statement.

As for prices, condos sold for a median $419,000 last month, up 5 percent from $398,000 a year earlier. The record was $425,000 in July.

In Oahu’s single-family house market, the number of sales rose 5 percent to 362 in August from 344 in the same month last year, while the median price also increased by 5 percent to $786,250 from $747,500 in the same period. The record was $795,000 in June.

Local residential real estate brokerage firm Locations described Oahu’s housing market in its own report this week as exhibiting “strong and steady growth” in August driven by buyers competing for relatively limited inventory.

Condos, which include townhouses and units in high-rise buildings, are generally more affordable than single-family homes and have been in more demand than single-family houses, though both segments in the market have had more sales during the first eight months of this year compared with the same period last year.

For condos, sales this year through August are up 6.2 percent compared with a 3.8 percent gain for single-family houses.

“Condos and townhouses are becoming an attractive alternative for homebuyers due to the affordable price,” Lee said.

A higher pace of condo sale growth also has been aided by developers completing several new condo towers last year that have added inventory to the resale market. Projects completed last year include The Collection, Symphony Honolulu, Waiea and 400 Keawe, with roughly 1,100 units between them. By comparison, developers built far fewer single-family homes on Oahu last year.

Locations said in its report that the 11-year high for condo sale volume was remarkable because the number of units on the market available for sale is relatively low. In August, there were 1,918 condos on the market. That’s the highest inventory for any month in nearly two years, but it compares with 2,707 units on the market in August 2006 when there were about as many condo sales as there were last month.

Because of relatively low inventory, as well as other factors that include low unemployment, record tourism and low interest rates, Oahu home prices are expected to continue rising this year and for the next couple of years, according to projections by the University of Hawaii Economic Research Organization.

This year through August, the median condo sale price is $401,000, up 3.2 percent from $388,500 in the same period last year. The single-family home median sale price is up slightly more, 3.7 percent, and rose to $757,000 from $730,000 in the same time frame.

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Real Estate News: Oahu condo prices climb

Photo: Jack Tyrrell & Company, Inc.

Photo: Jack Tyrrell & Company, Inc.

The Honolulu Star-Advertiser's Monday, August 7, 2017, front-page story reported on the continuous climb in condo prices seen on Oahu. The report looks at data from the Honolulu Board of REALTORS, which shows record high median sales price of $425,000 for Oahu condos in July 2017. The median price in Ala Moana-Kakaako for July spiked 88 percent from $370,000 in July 2016 to $695,000 in July 2017. Prices will only continue to climb, as demand outweighs supply, making it more important than ever to find the right Realtor to help you find the best location and unit, and to guide you through the negotiation process to ensure the unit doesn't slip away.  

Read the Star-Advertiser's report, below:

Oahu’s more affordable option for homeownership is climbing in cost as median sales prices for condominiums hit historic highs, as evidenced in July.

Previously owned Oahu condos sold for a median $425,000, increasing 6.3 percent from $400,000 in July 2016, according to resale figures released Sunday by the Honolulu Board of Realtors. The July median sales price for Oahu condos exceeded the previous record high of $415,500, set in April.

“Median sales prices for condominiums are the highest we’ve seen as prices have continued to soar,” Sue Ann Lee, president of the local Realtors trade association and a broker with Properties of the Pacific, said in a statement. “Condos and townhouses at midrange price points are a likely alternative when there is a lack of affordable single-family home inventory, causing the median sales price to shift up.” 

The median sales price for Oahu condos, which also include town homes, has been at $400,000 or above for five straight months. The median price is a point at which half the homes sold for a higher price and half for a lower price.

In July the sales of 475 Oahu condos closed, a 7 percent increase from 444 in the same month last year. As the number of sales rose, median days on the market declined. Sales of condos closed after 14 days on the market, a 22.2 percent decrease from 18 days on the market in July 2016.

Year-to-date, condos make up 60 percent of home sales, with 3,272 sales closed on condos, compared with 2,124 single-family homes.

The area with the most condo sales in July was Waikiki, with 77 sales, followed by Ewa, with 55. There were 45 condos sold in Ala Moana-Kakaako, according to a Wednesday report released by Locations, a major Hawaii residential real estate brokerage firm.

The median price of those sales in Waikiki was $370,000; in Ewa, $387,000; and in Ala Moana-Kakaako, $695,000, according to Locations. The median price in Ala Moana-Kakaako for July spiked 88 percent from $370,000 in July 2016.

As Oahu’s median sales prices for condos broke records, median sales prices of single-family homes saw a modest change. Single-family home prices rose slightly over the same month last year but came in below recent highs.

Single-family houses on Oahu sold for a median $750,000 in July. The July median price inched up 0.5 percent from July 2016’s $746,000.

“It’s like an escalator. It’s going up and up and up at a really constant rate. It has been doing that for about five years here on Oahu,” said Paul Brewbaker, principal of TZ Economics. “These numbers don’t seem to be that much out of bounds with what we’ve seen for a long time, at least since the summer of 2011.”

Despite increasing over the year-ago price, July’s median sales price of $750,000 pales next to the record $795,000 hit the month before. June’s record median sales price was $35,000 higher than the previous record of $760,000 exactly a year earlier. Brewbaker said the difference fits with current seasonality patterns, noting June prices are higher than July and May prices.

The number of single-family homes sold was up 4 percent, with 335 homes sold in July and 322 a year prior.

In July the area with the most single-family home sales was Ewa, with 70, followed by Mililani with 25. Tied for third was Pearl City-Aiea and Leeward with 22, according to Locations.

The median price of those sales in Ewa was $681,875. The median price in Mililani was $731,500. In Pearl City-Aiea it was $745,000, and in Leeward it was $517,500.

While the number of single-family home sales saw a slight increase in July, the number of days a home was on the market during that time surged. The number of days a home was on the market spiked 25 percent in July, with sales closing in an average of 20 days, compared with 16 days in July 2016.

In July, 481 new listings of single-family homes were added to the market. Only once in the last 24 months has the number of new listings been higher: in March, when there were 492 new listings. In comparison, the condo market last month saw 674 new listings.

According to Locations’ Wednesday report, the firm said it expects Oahu condo and single-family home prices to continue a steady climb as demand continues to outpace available supply.

“An uptick in new listings for both single-family homes and condos is welcome news for prospective homeowners; however, demand continues to outpace available inventory,” Scott Higashi, CEO of Locations, said in the report.

HOME SALES
The number of homes sold on Oahu in July with the median price and percentage change from the same month last year:

  • SINGLE-FAMILY HOMES

    • SALES MEDIAN PRICE

    • July 2017 335 $750,000

    • July 2016 322 $746,000

    • Change 4% 0.5%

  • CONDOS

    • SALES MEDIAN PRICE

    • July 2017 475 $425,000

    • July 2016 444 $400,000

    • Change 7% 6.3%

Source: Honolulu Board of Realtors

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Ward Village Update: State says Howard Hughes' Aalii Kakaako tower project must follow conditions

Aalii condo development project at Ward Village, Kakaako, Honolulu, Hawaii.

Pacific Business News has reported on the results of the February 1, 2017 Hawaii Community Development Authority's (HCDA) regular meeting, which discussed the request from the Howard Hughes Corporation to remove conditions the HCDA had set for the approval of the developer's latest residential project.  The HCDA has rejected this request.  Read more below:

Hawaii regulators have rejected a request by The Howard Hughes Corp. to do away with conditions set for the approval of the newest mixed-use high-rise residential project within the developer's 60-acre Ward Village master-planned community in Honolulu, a spokesman for the state agency confirmed to Pacific Business News.

On Wednesday at its regular meeting, the Hawaii Community Development Authority board voted to not reconsider three conditions it set for the approval of the 42-story, 751-unit Aalii project in the Honolulu neighborhood of Kakaako.

Todd Apo, vice president of community development for The Howard Hughes Corp. (NYSE: HHC), told PBN in an email Wednesday that despite Wednesday’s decision, the developer remains committed to the Aalii project and it is eager to bring more homes to Ward Village for local residents.

Last month, the HCDA officially approved the Texas-based developer’s plan to develop the Aalii project. But along with that approval came several conditions that the HCDA said the developer must meet, including the development of the central plaza and reserved housing requirements.

Last week, attorneys with Honolulu’s Watanabe Ing LLP, which represents Howard Hughes, filed paperwork with the HCDA regarding the developer’s exceptions to three of the conditions.

One condition noted that before regulators let people move into the project — or two years from the approval of the development permit, whichever happens first — the developer must complete the construction of the 150,000-square-feet of central plaza nearby, which includes public plazas and pedestrian walkways.

Howard Hughes said that it is impossible to accomplish this condition because the design, planning and permitting process for the central plaza will take about two years to complete, only after which construction may begin; a realistic timeframe would be about four years to complete construction of the plaza. The developer also said that this condition violates the development agreement, which allows it flexibility in project phasing.

Howard Hughes also takes issue with two more conditions set by the HCDA regarding reserved housing requirements.

The HCDA voted 5-4 on Jan. 5 to approve the Aalii project, which will be located on the route of the Honolulu rail transit project along Halekauwila Street.

Aalii will join Howard Hughes’ Aeo project next door, which includes the state’s flagship Whole Foods Market, and the Waiea, Anaha, Ke Kilohana and Gateway Towers that would replace the Ward Warehouse retail complex.

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Condo developer no longer pursuing long-delayed project

Courtesy of MB Acquisitions

OliverMcMillan, the developer of the recently completed Symphony Honolulu, has decided not to join the development team working on the mixed-use Aloha Kai project on the corner of Atkinson and Ala Moana, right across the street from Ala Moana Hotel where our Jack Tyrrell and Company, Inc. offices are located.  However, its developer, MB Property Acquisitions LLC will still be moving forward with the project, which houses the YMCA on its ground floor.

Read more from Pacific Business News, below:

San Diego-based developer OliverMcMillan, which developed a couple of Honolulu mixed-use high-rise projects, won’t be developing another one at the site of the YMCA of Honolulu Central Branch across from Ala Moana Center, the developer of the project confirmed to Pacific Business News.

California-based MB Property Acquisitions LLC has partnered with the Japanese firm Tama Home on the long-planned 37-story, 117-unit Aloha Kai development on Atkinson Drive.

OliverMcMillan was in negotiations to join the team to build the project. But Michael Blumenthal, president of MB Property, told PBN on Thursday that OliverMcMillan has “stepped to the side.”

“The project is still happening,” he said. “We’re in discussions with the YMCA in regards to the project. Our intention is to develop the condo tower and most likely the YMCA.”

Blumenthal said negotiations have been slow, and that the project may include more affordable units and market-rate units that would adapt to today’s pricing.

Construction on the project could start by early next year.

The project will include a new three-story, 30,000-square-foot YMCA Central Branch with no residential units, a swimming pool and a sophisticated aqua facility that will cater to seniors. It will also have five levels of parking with units being built atop those levels.

Aloha Kai encountered a delay after the developer asked for a zoning change to increase its height limit to 350 feet from 150 feet.

The project will encompass about 150,000 square feet of net saleable square footage with four units per floor and a boutique-like, private feel, according to Blumenthal.

Pricing is still being determined, although he said it is probably going to be around $1,400 per square foot, meaning that a one-bedroom unit of roughly 600 square feet unit would be priced around $840,000.

Aloha Kai also will have a rooftop pool, and all units will include lanais that overlook the ocean. There will be no commercial units in the project.

The condo portion of the project is expected to be completed in about two years.

PBN reached out to OliverMcMillan for comment.

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Median prices for Oahu condos and homes continue to climb in July 2016

Pacific Business News' James Prichard has reported on the July 2016 analysis of Multiple Listing Service (MLS) sales provided by the Honolulu Board of Realtors, below.  The median sales price for a condo was $400,000, an increase of 14.3% from July 2015's median sales price of $350,000, showing that the market is still very strong.  Read a more detailed overview, below: 

Despite declines in year-over-year unit sales, median prices continued to climb for single-family homes and condominiums on Oahu that sold during July, according to an analysis of Multiple Listing Service data by the Honolulu Board of Realtors.

The median sales price for a condo hit $400,000 last month compared with $350,000 in July 2015, an increase of 14.3 percent. The median price for a home was $746,000 compared with $710,000, up 5.1 percent.

There were 444 condos sold during July compared with 501 in the same month last year, a decrease of 11.4 percent, while 322 homes were sold compared with 337, down 4.5 percent.

In July, the median days on the market for condominiums was 18 and for homes was 16.

“While sales of both single-family homes and condos dipped compared to the previous year, the increase in prices year-over-year for both indicates the housing market is still very strong,” Kalama Kim, president of the board, said in a statement. “The drop in condo sales is typical of the cyclical nature of the real estate market. Historically, we’ve seen a peak in condo resales during the summer, followed by a slight dip the following month. As for prices, a decrease in the number of sales with a corresponding increase in prices usually means buyers are being more aggressive with their offers. That said, home affordability is more favorable than a decade ago because of extremely low mortgage interest rates.”

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Howard Hughes' Honolulu luxury condo towers nearly sold out

Rendering of Anaha Luxury Tower at Ward Village, The Howard Hughes Corp.

Pacific Business News' Duane Shimogawa provides an update of The Howard Hughes' Corporation's Ward Village projects, below.  Highlights include sales at Waiea, Anaha, Aeo, and Ke Kilohana projects:

The Howard Hughes Corp. (NYSE: HHC) has sold about 91 percent and 92 percent of the 491 total units at its Waiea and Anaha mixed-use condominiums in Honolulu, respectively, the Texas developer said Monday in its second-quarter earnings report.

Howard Hughes sold 158 of the 174 units at its Waiea project and 292 of the 317 units at its Anaha condo.

The $403 million Waiea condo is scheduled to be completed in the fourth quarter, and the $401 million Anaha condo is expected to be done in summer 2017. Thus far, Howard Hughes has spent $303.5 million on Waiea and $170.2 on Anaha.

Aeo, the third of the four mixed-use condo towers planned for the first phase of the developer’s 60-acre Ward Village master-planned community, should be completed by late 2018. The developer has spent $39.2 million so far on its $430 million Aeo condo.

Whole Foods Market Inc.’s (Nasdaq: WFM) flagship Hawaii store has pre-leased about 81 percent of the retail space in Aeo. Howard Hughes has sold 241 of the 466 units in this condo, or about 52 percent.

The 375 workforce units at its 424-unit Ke Kilohana condo are sold out. The market-rate units began pre-sales in late July on the $219 million project. The developer has spent $10.5 million thus far on Ke Kilohana.

The Dallas developer reported a profit of $67.3 million, or $1.58 per diluted common share in the second quarter, up from $24.2 million, or 56 cents per diluted common share, in the same quarter last year.

Hawaii regulators last week approved its $20 million plan to upgrade Kewalo Basin Harbor in the Honolulu neighborhood of Kakaako. The harbor is located across the street from Ward Village.

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