Developer reveals more details about East Honolulu residential project

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The developer of a 14-home project near the Hawaii Kai Executive Golf Course in East Oahu plans to start construction in 2016, according to public documents.

Buff Raiders Property LLC, whose partners include Rick Papa, Paul Shinkawa and Henry Amato, is the developer of the Kalama Hokupaa project.

The current permit allows for 26 multifamily units. However, when the developer acquired the land in 2014, it decided to build the 14 single-family units designed for multi-generational families.

Buff Raiders unveiled more details about the project at the monthly Hawaii Kai Neighborhood Board meeting in April.

The individual lots will be about 5,000 square feet, with homes being about 1,500 square feet on the ground floor.

The developer, which plans to market the project starting next month through August, said that its target population is the local market.

Belt Collins Hawaii LLC and MGA Architecture LLC are also part of the project.

Kalama Hokupaa follows other small residential development projects on Oahu, including Honolulu boutique firm Centre City LLC’s nine-unit Hauoli Lofts in the McCully-Moiliili neighborhood and California-based Blue Mountain Homes’ Kauhale Gardens in Kalihi.

PBN reached out to Buff Raiders for comment Friday.

Duane Shimogawa
Pacific Business News

Pre-leasing begins for Hawaii Kai rental project

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A rendering of the 7000 Hawaii Kai rental project, which began pre-leasing this week

A rendering of the 7000 Hawaii Kai rental project, which began pre-leasing this week

Pre-leasing began Monday for 7000 Hawaii Kai, a 269-unit rental project being developed by Honolulu-based Avalon Development Co. LLC, the head of the firm told PBN.

The $165 million long-planned project, originally called the Hale Ka Lae condominium, began construction in October and is slated to be completed by the summer of 2016, Christine Camp, president of Avalon Development told PBN.

Located at 7000 Hawaii Kai Drive, the project’s landowner, South Korea’s Hanwha Engineering Construction Corp., secured $100.7 million in financing for the development in December.

It will include two, three- and four-bedroom units, with 54 out of the 269 units in the affordable range.

The cost to develop the project is pegged at $108 million, but with the land cost penciled in, the total cost of it is $165 million, Camp previously told PBN.

Avalon was contracted in December 2013 by the landowner to develop, redesign and obtain financing for the project.

Honolulu-based firms Design Partners Inc. and Hawaiian Dredging Construction Co. were chosen to be design and build the project, respectively.

Rents for the affordable portion of the project will range between $1,475 per month to $2,200 per month, while rents for the market-rate units will range from $2,200 per month to $3,700 per month. The rents include maintenance fees.

Duane Shimogawa Reporter – Pacific Business News

Korean firm secures $101M in financing for Hawaii Kai rental project

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This rendering shows the plan for the 7000 Hawaii Kai residential rental project.

This rendering shows the plan for the 7000 Hawaii Kai residential rental project.

Hanwha Engineering Construction Corp. has secured $100.7 million in financing for its planned 7000 Hawaii Kai residential project in East Oahu, which is being developed by Honolulu-based Avalon Development Co. LLC, and includes 269 units at both market and affordable rents, the South Korea-based firm said Monday.

Hanwha Engineering Construction Corp. worked with HFF, a provider of commercial real estate and capital markets services in the United States, to structure the financing, which consists of a first lien loan in conjunction with a mezzanine investor.

HFF placed a $67.3 million first lien loan with Bank of the Ozarks and also got $33.4 million in mezzanine financing through iStar Financial Inc., which owns more than 200 residential condominiums at the Ilikai Hotel in Waikiki, to complete the multi-housing development.

The $165 million long-planned project, which was originally called the Hale Ka Lae condominium, and located at 7000 Hawaii Kai Drive, began construction in October and is slated to be completed in the second quarter of 2016.

The cost to develop the project is pegged at $108 million, but with the land cost penciled in, the total cost of it is $165 million, Christine Camp, president and CEO of Avalon, previously told PBN.

The firm was contracted in December 2013 by the landowner to develop, redesign and obtain financing for the project.

Rents for the affordable portion of the project will range between $1,475 per month to $2,200 per month, while rents for the market-rate units will range from $2,200 per month to $3,700 per month. The rents include maintenance fees.

Duane Shimogawa Reporter – Pacific Business News

Avalon to break ground on $165M Hawaii Kai residential project

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This rendering shows the plan for the 7000 Hawaii Kai residential rental project.

This rendering shows the plan for the 7000 Hawaii Kai residential rental project.

Honolulu-based Avalon Development Co. LLC is set to begin construction Friday on a $165 million Hawaii Kai residential rental project that was first planned as a luxury condominium project by a South Korean developer, and has had starts and stops during the last several years.

The cost to develop the project is pegged at $108 million, but with the land cost penciled in, the total cost of it is $165 million, Christine Camp, president and CEO of Avalon, told PBN.

Originally called the Hale Ka Lae condominium, the project at 7000 Hawaii Kai Drive, which includes two 10-story buildings and a parking structure on nearly four acres of land, is now being called 7000 Hawaii Kai.

There will be a total of 269 units at both market-rate and affordable rates.

Avalon Development was contracted in December by the landowner, South Korea-based Hanwha Engineering and Construction, to develop, redesign and obtain financing for the project. The developer is holding a groundbreaking ceremony on Friday at 10:30 a.m. at the 7000 Hawaii Kai Drive site.

Rents for the affordable portion of the project will range between $1,475 per month to $2,200 per month, while rents for the market-rate units will range from $2,200 per month to $3,700 per month. The rents include maintenance fees.

The developer said that it should finish the project in about 16 months, which would mean the second quarter of 2016.

Duane Shimogawa Reporter – Pacific Business News

Kamehameha Schools, Foodland to reveal plan for Hawaii Kai project

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Kamehameha Schools, Foodland to reveal plan for Hawaii Kai project

Duane Shimogawa  |  Reporter- Pacific Business News
Mar 20, 2013, 1:54pm HST

Kamehameha Schools and Foodland are expected to unveil a plan to develop the 4.5-acre “Great Lawn” in Hawaii Kai across from Maunalua Bay into a grocery-anchored strip center at Thursday night’s East Oahu Town Hall Meeting,

The crane parked near the intersection of Kalanianaole Highway and Keahole Street in Hawaii Kai is there for dredging Maunalua Bay. However, Kamehameha Schools and Foodland are expected to unveil a plan for the 4.5-acre parcel that would include a Foodland-anchored shopping center.

The crane parked near the intersection of Kalanianaole Highway and Keahole Street in Hawaii Kai is there for dredging Maunalua Bay. However, Kamehameha Schools and Foodland are expected to unveil a plan for the 4.5-acre parcel that would include a Foodland-anchored shopping center.

Landowner Kamehameha Schools is expected to be represented by Susan Todani, the trust’s area development director, and Foodland’s vice chairman, Roger Wall, is expected to attend on behalf of the supermarket, which would be the anchor tenant of the proposed shopping center.

Spokespeople for Kamehameha Schools and Foodland did not immediately respond to requests for comment by PBN.

Recently, a construction crane in that area had some local residents wondering if it was there to start construction of the strip center at the corner of Kalanianaole Highway and Keahole Street.

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Many community residents are opposed to developing the land, which is adjacent to the Hawaii Kai dog park, for commercial purposes, but that is not what the crane was there for, said Beverly Liddle, manager of the Hawaii Kai Marina. Instead, it was part of a dredging project for the marina and entrance to the bay.

The town hall meeting is being held by area politicians such as Reps. Gene Ward and Mark Hashem, Sens. Sam Slom and Laura Thielen and Councilman Stanley Chang, as well as the Hawaii Kai Neighborhood Board.

“I hope some rational land use perspectives on what the community feels in regards to the proposal [from Kamehameha Schools and Foodland] come out of the meeting,” Ward told PBN. “If they are pursuing the proposal, the details should be forthcoming.”

In 2011, Foodland shut down its only Hawaii Kai store, at the Koko Marina Shopping Center. Walgreen Co. and Petco opened stores last year in the former Foodland space.

Ward says that the next formal step in the process of development is scheduling a hearing with the Honolulu City Council, which has not been done yet.

The Great Lawn is of great importance to the Hawaii Kai and East Honolulu community. Many say it sets the ambience of the neighborhood and is a beloved piece of land.

The town hall meeting is being held at the Kamiloiki Elementary School Cafeteria from 7 p.m. to 8:30 p.m.

For more information, contact Ward’s office at 586-6420.

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