New Construction Homes Under $700K on Oʻahu: Every Option in 2026

ʻAhakea update — September 29, 2026: Detached GenHomes are the first phase; the second phase adds townhomes and attached FLEX homes. Older detached prices below are historical, not current offers. Confirm pricing and availability by home type. Compare the two phases.

Ho‘opili pricing note — October 8, 2026: Uluwehi advertises from $487,960; its 11 priced homes span $487,960–$629,460. Advertised community entries are not promises of a particular bedroom count, FLEX® layout or available home. Other communities and historical comparisons retain their own stated dates. See the dated Ho‘opili pricing guide for the separate advertised and listed-home figures.

Yes, you can still buy a brand-new home on Oʻahu for under
$700,000 — but your options are narrowing fast. As of July
2026, the July comparison identified six communities across three major developments with
new construction priced below $700K. Options range from $380K studios at
Koa Ridge to $685K reserved townhomes at Kaʻulu, with most inventory
concentrated in Hoʻopili (ʻEwa Beach) and Koa Ridge (Central Oʻahu). This
guide covers every under-$700K option currently available, including
both market-rate and affordable housing units.

Last Updated: July 6, 2026

TL;DR — Under
$700K New Construction at a Glance

• Cheapest market-rate option: Lau Leʻa studios at
  Koa Ridge from $380K
• Compare space and price: Kāpili offers two- and three-bedroom condos and advertises from $654,945; the October 8, 2026 priced-home list starts at $700,975. Uluwehi’s advertised entry is $487,960. Check the specific layout and unit rather than applying a community entry price to every plan.
• Most options under $700K: The July comparison listed three Hoʻopili communities; ʻAhakea’s second-phase attached offerings now also warrant a current quote
• Affordable housing (lottery/income-restricted): Keʻolu at Koa Ridge — current phase $550s–$640s; Kaʻulu reserved housing from $610K (early-2026 releases)
• Urban option: Kuilei Place in Moʻiliʻili —
  affordable units from $371K (lottery,
  income-restricted; completion timing needs confirmation)
• Coverage: Six communities in the July comparison, plus the subsequent ʻAhakea phase clarification. Confirm current inventory rather than relying on that older count.
• The catch: Most options at this price point are
  studios, 1-bedrooms, or 2-bedrooms — 3+ bedroom homes under $700K are
  almost exclusively affordable/lottery units

Quick
Facts: Under $700K New Construction on Oʻahu (2026)

Not included above: Kuilei Place in Moʻiliʻili
(affordable units from $371K–$813K) — currently under construction with
estimated completion in early 2028; see the July 21 developer update and timing caveat. Over 85% sold before groundbreaking.

Market-Rate Options Under
$700K

These communities sell to any qualified buyer — no lottery, no income
restrictions. First-come, first-served.

1. Lau Leʻa
at Koa Ridge — From $380K (Lowest Entry Point)

Lau Leʻa is the most affordable market-rate new construction on
Oʻahu. These condominium townhomes by Castle & Cooke offer studio,
1-bedroom, and 2-bedroom units in Central Oʻahu’s Koa Ridge
master-planned community.

Published Unit Pricing: – Studios: $379,825–$380,125
– 1-Bedrooms: $493,050–$512,050 – 2-Bedrooms: $612,750–$631,950

Who it’s best for: First-time buyers, singles,
couples, investors, or military personnel who want the lowest possible
entry into Oʻahu new construction. Central Oʻahu location means shorter
commutes than West Oʻahu options.

Standard features include: 9-foot ceilings,
through-wall A/C, LVT flooring, stainless steel appliances,
solid-surface countertops, smart home features, solar hot water.

Trade-off: These are compact units. Studios at 414
sqft and even 2-bedrooms at 841 sqft are small by mainland standards —
but they’re brand-new, well-finished, and in a master-planned community
with parks, trails, and an on-site elementary school.

→ Learn more about Koa Ridge
| Koa Ridge Prices 2026

2. Kāpili at Hoʻopili — 2-3 BD From $654,945

Kāpili is one of the best values in Hoʻopili for buyers who want more
space under $700K. These multi-family condominiums offer 2- and
3-bedroom layouts with up to 1,401 square feet — significantly more
space than Lau Leʻa at a comparable price point.

Who it’s best for: Families or couples who need 2-3
bedrooms and want to stay under $700K. At up to 1,401 sqft, the larger
Kāpili units are the most spacious sub-$700K option on this list. Some
units include fenced private yards.

Financing incentive: The previously cited financing promotion expired August 31, 2026. Request current written lender terms. — significantly below market. Confirm availability with the sales office.

→ Complete Hoʻopili Guide | Hoʻopili Prices 2026

3. Uluwehi at Hoʻopili — 1-3 BD Plans; Advertised Entry $487,960

Uluwehi is Hoʻopili’s — and West Oʻahu’s — cheapest
market-rate new construction as of July 2026. These condos start at
$489,950 for a 1-bedroom, with the full range running to $673,950.

Who it’s best for: Buyers who want the lowest
Hoʻopili entry price with rail access nearby. The whole community sits
inside Oʻahu’s only rail-served master plan — the Honouliuli
Skyline station already runs to Pearl Harbor, the airport, and Middle
Street.

Also gone from this list: Nahele, Hoʻopili’s
mid-rise condo community (formerly 1-2 BD from $556K), sold out and is
now resale-only — resale units there also carry the highest HOA on
this list (up to ~$567/mo combined).

→ Nahele at Hoʻopili (resale)
| Hoʻopili Prices 2026

4. Alana: historical sub-$700K pricing, availability unconfirmed

Alana is Hoʻopili’s most diverse community with 12+ floor plans including townhomes and FLEX (live-work) units. The July 2026 range runs $556,480–$734,035, and several configurations sit under $700K. D.R. Horton labels Alana “Sold Out” (checked October 11, 2026). Check Alana availability before relying on earlier prices.

Who it’s best for: Buyers who want townhome living
(attached, multi-level) with more layout options. FLEX units are
particularly interesting for remote workers or small business owners who
want an integrated workspace. The 1-2 bedroom layouts are your best bet
for staying under $700K.

→ Complete Hoʻopili Guide | Hoʻopili Prices 2026

Affordable
Housing Options Under $700K (Income-Restricted)

These communities require buyers to meet income limits, pass a
lottery or application process, and agree to owner-occupancy
restrictions (typically 5-10 years). Prices are set below market — but
the process is competitive.

5. Keʻolu at Koa Ridge — $550s–$640s (Best Affordable Value)

Keʻolu is Koa Ridge’s affordable housing component, offering 1-3
bedroom townhomes at prices well below market-rate equivalents in the
same community. Phase I launched July 2025.

What makes Keʻolu different: Unlike most affordable
housing on Oʻahu, Keʻolu uses a 120% AMI threshold — meaning households
earning up to $184,800/year (family of 4, 2026 limits) may qualify.
This is significantly higher than the 80-100% AMI limits used by most
programs.

Who it’s best for: Middle-income families who earn
too much for traditional affordable housing but can’t compete in the
$1M+ market. Teachers, nurses, firefighters, and dual-income households
in the $100K–$185K range.

→ Koa Ridge Hub | Oʻahu Affordable Housing Lottery
Guide

6.
Kaʻulu Reserved Housing — From $610K (Townhomes in Kalaeloa)

Kaʻulu by Gentry Homes includes reserved housing units priced below
market rate — though the discount is notably slim (1.5–2.2% below
appraised value), which has impacted sales.

Kaʻulu pricing context (September 28, 2026): Release 15 figures on this page are historical March 2026 prices. Release 16 subsequently offered market townhomes at $715,050–$795,850 for an August 15 lottery; that does not establish today’s availability. See the dated release details and current-pricing guidance.

The honest truth: Kaʻulu’s reserved housing has
struggled — only 11 of 25 reserved units sold in the first two phases
because the price discount is minimal ($10K–$15K below market rate). In
February 2026, 14 unsold reserved units were reclassified to
market-rate. If you qualify, it’s still a deal — but it’s not the
dramatic savings you’d find in HHFDC lottery projects.

What you get: Despite the modest discount, Kaʻulu
homes are well-built with spray foam insulation, solar water heating,
EV-ready garages, and identical finishes to market-rate units. The
Kalaeloa location is close to Kapolei Costco, Ko Olina Resort (5 miles),
and White Plains Beach (2 miles).

→ Kaʻulu Hub | Oʻahu Affordable Housing Lottery
Guide

Coming Soon:
Under $700K Options in the Pipeline

Kuilei
Place — Affordable Condos From $371K (Under Construction)

Kuilei Place is a 1,005-unit mixed-income tower in Moʻiliʻili by the
Kobayashi Group, with 603 affordable units (60%) priced
from $371K to $813K for households earning 80-140% AMI. This is the
single largest source of future affordable new construction on
Oʻahu.

• Expected delivery: completion is estimated for early 2028 (July 21 developer update)
• Status: Under construction (broke ground April
  2025, 85%+ pre-sold)
• Location: 2599 Kapiʻolani Boulevard, Moʻiliʻili —
  urban Honolulu, near UH Mānoa
• Innovation: Hawaiʻi’s first residential greywater
  reuse system (saves ~11M gallons/year)
• DEP Program: Essential workers (nurses, teachers,
  police) can receive $100K–$103K in equity assistance

Note: Most units are already sold. Contact the
developer to check for remaining availability or waitlist options.

→ Kuilei Place Hub

ʻAhakea at Hoʻopili — Compare the Two Phases

ʻAhakea’s second phase adds townhome condominiums and attached live-work/FLEX homes. The official community page advertised an entry price below $700K when reviewed September 29, 2026; confirm the specific available home and total price. That is not a verified sub-$700K detached GenHome offer. First-phase detached pricing and availability require a separate check. Compare the two phases and dated pricing.

• Size: 880–997 sqft, 2-3 BD / 2 BA
• HOA: Only $142–$150/mo total (among the lowest in
  Hoʻopili)
• Best feature: Detached construction with fenced
  yards — rare at this price point

→ Complete Hoʻopili Guide | Hoʻopili Prices 2026

Affordable
vs. Market-Rate: What’s the Difference?

Understanding the two buying paths is critical if you’re shopping
under $700K on Oʻahu.

Market-Rate New Construction

• Who can buy: Anyone who qualifies for
  financing
• How to buy: First-come, first-served (FCFS) at most
  communities
• Restrictions: None — you can rent it out, sell
  anytime, no income caps
• Price floor: ~$380K (studios) to ~$700K (2-3 BD)
• Where: Hoʻopili (Uluwehi, Alana, Kāpili), Koa Ridge (Lau Leʻa)

Affordable / Reserved Housing

• Who can buy: Households meeting AMI income limits
  (varies by program: 80%, 100%, 120%, 140%)
• How to buy: Lottery or application process
• Restrictions: Owner-occupancy required (typically
  5-10 years), shared equity on resale, no renting
• Price floor: ~$371K (Kuilei Place) to ~$685K
  (Kaʻulu)
• Where: Keʻolu (Koa Ridge), Kaʻulu reserved, Kuilei
  Place, various HHFDC projects

2026 AMI Income Limits
(Honolulu County)

2026 limits effective May 1, 2026, based on a Honolulu County median family income of $133,400 (HHFDC 2026 Honolulu County Income Schedule). AMI limits are updated annually by HUD — verify before applying.

→ Complete Oʻahu Affordable Housing
Lottery Guide

What You Can Actually
Get for Under $700K

Let’s be real about what this budget buys in Oʻahu’s new construction
market:

You’ll Likely Get:

• Studios or 1-2 bedrooms (market-rate)
• Up to 3 bedrooms (affordable/lottery only)
• Attached construction (townhomes, condos, mid-rise)
  — not detached single-family
• 400–1,400 sqft depending on community
• West or Central Oʻahu locations — not Honolulu
  urban core
• HOA fees ranging from $0 to $567/month

You Won’t Get:

• A detached home based on an attached-home advertisement: ʻAhakea’s second-phase townhomes and FLEX homes are not detached GenHomes. Confirm any detached home and price separately.
• 3+ bedrooms at market rate (rare exceptions in
  Alana)
• Ocean views or premium locations
• Large lots (most are zero-lot-line or
  attached)

Best Value Comparison

How to Buy Under $700K:
Step-by-Step

For Market-Rate Homes
(Hoʻopili, Lau Leʻa)

1. Get pre-approved — Talk to a lender before visiting
   sales offices. D.R. Horton’s DHI Mortgage and Castle & Cooke’s
   preferred lenders may offer below-market rates.
2. Visit sales centers — Hoʻopili: 91-1236 Franklin D.
   Roosevelt Ave, Kapolei. Koa Ridge: 94-1052 Haleululāʻau St,
   Waipahu.
3. Pick your lot/unit — Available inventory is
   first-come, first-served. Bring your pre-approval letter.
4. Sign purchase agreement — Typically $1,000–$5,000
   earnest money deposit.
5. Close in 30-90 days — Move-in ready homes close
   fastest; under-construction homes may take 6-12 months.

For
Affordable Housing (Keʻolu, Kaʻulu Reserved, Kuilei Place)

1. Check income eligibility — You must earn under the
   specified AMI limit for your household size.
2. Watch for lottery announcements — Sign up for
   developer mailing lists and check HHFDC.hawaii.gov.
3. Submit application — Typically requires income
   verification, tax returns, and employer letters.
4. Win the lottery — If selected, you’ll receive a
   purchase priority number.
5. Complete the purchase — Standard mortgage process,
   but with additional documentation for income verification and
   owner-occupancy agreement.

→ First-Time Buyer
Guide | Closing Costs
Guide

Frequently Asked Questions

Can
you really buy new construction on Oʻahu for under $700K?

Yes — as of July 2026, the comparison listed six communities with new construction priced under $700,000. The cheapest market-rate option is Lau Leʻa at Koa Ridge from $380K (studios). At Hoʻopili, Uluwehi condos start at $489,950, Alana townhomes at $556,480, and Kāpili 2-3 bedroom condos at $654,945. The Keʻolu lottery at Koa Ridge runs $550s-$640s for income-qualified buyers, and Kaʻulu reserved townhomes started around $610K in early-2026 releases. D.R. Horton labels Alana “Sold Out” (checked October 11, 2026); confirm any remaining developer homes or resales.

What’s
the cheapest new construction home on Oʻahu right now?

At Hoʻopili, Uluwehi advertised from $487,960 on October 8, 2026; its 11 priced homes ranged from $487,960 to $629,460. Kāpili advertised from $654,945, but its 29 priced homes started at $700,975. These community-level figures do not guarantee a two- or three-bedroom home under $700,000. Check the exact plan and home list. Koa Ridge pricing and affordable-program eligibility require their own current source check.

What’s the catch
with affordable housing units?

Affordable housing on Oʻahu typically requires: (1) household income
below a specified AMI limit (usually 80-140% of Area Median Income), (2)
winning a lottery or being selected through an application process, (3)
agreeing to owner-occupancy for 5-10 years, and (4) shared equity
provisions that limit your profit on resale. The trade-off is
significant savings — $50K to $200K below market price.

Are
there any new construction single-family homes under $700K on
Oʻahu?

ʻAhakea’s second phase adds townhome condominiums and attached live-work/FLEX homes. The official community page advertised an entry price below $700K when reviewed September 29, 2026; confirm the specific available home and total price. That is not a verified sub-$700K detached GenHome offer. First-phase detached pricing and availability require a separate check. Compare the two phases and dated pricing.

Which
under-$700K community has the lowest HOA fees?

Lau Leʻa at Koa Ridge and Kāpili at Hoʻopili have among the
lowest HOA fees for sub-$700K options. In contrast, Nahele at Hoʻopili
(now resale-only) has the highest combined HOA fees — up to
$567/month — which significantly impacts total monthly costs.

Is
it better to buy affordable housing or market-rate under $700K?

It depends on your income and flexibility. Market-rate homes (Uluwehi, Alana, Kāpili, Lau Leʻa) have no income limits, no occupancy restrictions, and
no shared equity — you can rent them out or sell anytime. Affordable
housing (Keʻolu, Kaʻulu reserved) costs less upfront but locks you into
owner-occupancy for 5-10 years and limits resale profit. If you plan to
live in the home long-term and qualify, affordable housing is usually
the better financial move.

How do
Oʻahu new construction prices compare to resale homes?

As of early 2026, the median resale price for condos on Oʻahu is
approximately $510K, while single-family resale homes average $1.05M+.
New construction under $700K competes directly with resale condos — but
offers modern finishes, warranties (typically 10-year structural),
energy efficiency, and master-planned community amenities that most
resale condos lack.

Can I use a
VA loan for new construction under $700K?

Yes. Both D.R. Horton (Hoʻopili) and Castle & Cooke (Koa Ridge)
accept VA loans. The previously cited financing promotion expired August 31, 2026. Request current written lender terms.. VA loans offer zero down payment, no
PMI, and competitive rates — making them one of the best paths to new
construction under $700K for eligible military buyers.

What’s
the monthly payment on a $650K new construction home?

With 5% down ($32,500), a $617,500 mortgage at 6.5% interest, 30-year
fixed: approximately $3,903/month for principal and
interest. Add property tax (~$200/mo), homeowner’s insurance (~$100/mo),
and HOA ($200–$500/mo) for a total of roughly
$4,400–$4,700/month. VA buyers with 0% down would have
a higher principal but no PMI.

Will new
construction under $700K appreciate?

Historically, yes. Hoʻopili resale data shows 15-25% appreciation
from original purchase prices (2020-2024). However, smaller units and
condos typically appreciate more slowly than detached single-family
homes. The strongest appreciation drivers at this price point are rail
transit access (Nahele), master-planned community completion (Hoʻopili,
Koa Ridge), and Oʻahu’s persistent housing shortage.

The Bottom Line

When shopping under $700,000, distinguish an advertised plan entry from a home listed for sale. Uluwehi’s October 8, 2026 priced-home list was $487,960–$629,460. Kāpili advertised from $654,945, but its priced-home list began at $700,975. Confirm current Koa Ridge offerings and any income-qualified release separately before treating an earlier price as an available option.

Kuilei Place is planned to add hundreds of affordable homes in urban Honolulu. The July 21 developer update estimates completion in early 2028; confirm the current schedule before planning a move.

Prices change frequently. Contact sales offices
directly for the most current availability and pricing. Links to all
developments mentioned in this guide are below.

Related Guides

• Complete Guide to New
  Construction on Oʻahu (2026)
• Hoʻopili Prices 2026
• Koa Ridge Prices 2026
• Hoʻopili vs Koa Ridge:
  Complete Comparison
• Oʻahu Affordable Housing Lottery
  Guide
• First-Time Buyer
  Guide
• Closing Costs Guide
• New Construction vs
  Resale

New Construction Hawaii is an independent resource. We are not
affiliated with any developer. Pricing and availability are subject to
change — always confirm directly with sales offices. Data sourced from developer websites (drhorton.com, castlecookehawaii.com, gentryhawaii.com verified July 6, 2026), HCDA filings, and public records.