Kuilei Place

Kuilei Place is a 1,005-unit mixed-income condominium rising at 2599 Kapiolani Boulevard in Moʻiliʻili — one of Honolulu’s most centrally located neighborhoods. When completed, it will be the largest new residential development in this part of town in decades, and one of the most significant affordable housing projects in modern Hawaiʻi history.

The development consists of two buildings — a 43-story tower reaching approximately 400 feet and a 12-story midrise — connected by a 13-story parking structure with 1,677 stalls. The project sits on 3.15 acres and includes 7,211 square feet of ground-floor retail space anchored by dining concepts from the Aoki Group (Kevin Aoki).

What makes Kuilei Place genuinely unusual in the Honolulu market: 60% of units are designated affordable under the Hawaiʻi Housing Finance and Development Corporation’s (HHFDC) 201H program. That’s 603 affordable homes in a prime urban location — priced for households earning between 80% and 140% of the Area Median Income. The remaining 402 market-rate units still come in significantly below comparable new construction in Ward Village or Ala Moana.

The $619 million project broke ground on April 9, 2025, after receiving HHFDC approval in October 2022 and Honolulu City Council approval in January 2023. As of early 2025, more than 85% of all units were sold — a testament to the enormous demand for attainably priced new construction in Honolulu.

The Developers: Kobayashi Group & BlackSand Capital

Kuilei Place is developed by 2599 Kapiolani, LLC — a joint venture between the Kobayashi Group and BlackSand Capital (formerly MacNaughton Group).

The Kobayashi Group, led by CEO Alana Kobayashi Pakkala, is one of Hawaiʻi’s most established development firms with deep roots in local construction. The general contractor is Albert C. Kobayashi Inc. — same family, decades of major projects across the islands. BlackSand Capital, the investment arm formerly known as MacNaughton Group, brings the capital and strategic oversight.

The architectural team is Design Partners Incorporated, led by Principal Steve Teves, who has described the project as designed “by locals, for locals.” Interior design comes from Philpotts Interiors, and landscaping from Walters Kimura Motoda. Sales are handled exclusively by Compass Hawaiʻi.

The Moʻiliʻili Context

Moʻiliʻili sits at the crossroads of everything in urban Honolulu — between Waikīkī, Kaimukī, UH Mānoa, and Ala Moana. It’s one of the city’s most walkable neighborhoods, with deep multicultural roots and an eclectic mix of longtime local businesses, restaurants, and small shops.

The Kuilei Place site previously held Kapiolani Village — a low-rise rental apartment complex. The redevelopment displaced approximately 141 tenants, which generated significant community opposition (more on that below). This controversy is worth understanding if you’re considering buying here.

Kuilei Place offers four unit types across its affordable and market-rate tiers. All units feature floor-to-ceiling windows in living rooms and bedrooms, 8’5” ceilings, luxury vinyl plank flooring, Bosch appliances, quartz countertops, and Mitsubishi split-unit HVAC systems.

Buyers choose between two interior design schemes by Philpotts Interiors: – Concept A: Classic Monochrome — warm woods, aged lava tones, White Oak laminate cabinetry – Concept B: Modern Cerulean — ocean-inspired, Concrete Grey quartz countertops, Coal porcelain bath tile

Note: Tower units include lanais; midrise units do not.

Affordable Units (603 Total)

Market-Rate Units (402 Total)

Here’s the honest pricing picture: Kuilei Place is not “cheap” — but it is significantly less expensive than anything comparable being built in Honolulu right now.

Price Per Square Foot

At roughly $1,000/sq ft, Kuilei Place’s market-rate units cost about half what you’d pay at most Ward Village towers — and the affordable units are even lower.

HOA / Maintenance Fees

Estimated maintenance fees are $0.68 per square foot — among the lowest for any new Honolulu condo. Here’s what that looks like monthly:

For comparison, Ward Village towers run $1.00–$2.11/sq ft in maintenance fees. Kuilei Place’s $0.68/sq ft is a major cost advantage over the life of ownership. Parking is included — no separate monthly charge.

Closing cost note: Budget for approximately 6 months of maintenance fees at closing (2 months start-up, 2 months advance, 2 months toward resident manager’s unit).

What Does a Kuilei Place Home Actually Cost Per Month?

Below are illustrative monthly-cost examples using a 6.5% mortgage assumption, updated August 24, 2026. They are planning examples, not lender quotes. Actual costs depend on your down payment, credit profile, loan type, and specific unit; DEP can also change the amount a qualified buyer needs to finance.

Assumptions: 30-year fixed mortgage at 6.5% · 10% down payment · Property tax ~0.35% of value/year · Home insurance ~$100/mo · HOA ~$0.68/sf/mo

Kuilei Place’s $0.68/sf HOA is among the lowest for new Honolulu condos. Parking is included — no separate monthly charge. Affordable buyers with the DEP program may qualify for reduced purchase prices. See our Kuilei Place floor plans guide →

This is the heart of the Kuilei Place story. With 603 affordable units — 60% of the project — this is one of the most significant workforce housing developments in recent Hawaiʻi history, approved under HHFDC’s 201H expedited process.

2026 Income Limits

Kuilei Place affordable residences serve households from 80% through 140% of Area Median Income (AMI). These Honolulu County limits took effect May 1, 2026:

Source: HHFDC 2026 Honolulu County income guidelines, effective May 1, 2026. Income is only one part of eligibility; HHFDC gives the final approval.

Affordable and DEP Eligibility

Kuilei Place has a standard affordable-housing baseline. DEP is an additional program with stricter requirements, so buyers should not assume that qualifying for one means qualifying for the other.

Important: DEP’s no-property and no-gift-funds rules are additional restrictions. HHFDC makes the final eligibility determination.

The Lottery Process

The affordable housing lottery was held on July 17, 2023 (live-streamed). Here’s how it worked:

1. Application deadline: April 16, 2023
2. Lottery drawing: July 17, 2023 — assigned Priority Selection Numbers (PSNs)
3. Unit selection: In PSN order, buyers selected their preferred unit
4. Deposit: $500 at contract signing, then remainder of 5% down within 30 days

As of September 2025, the lottery is complete but waitlist applications are still being processed. Most affordable units are spoken for.

10-Year Buyback & Shared Appreciation

Affordable buyers should understand these restrictions:

10-Year Buyback: You must occupy the unit as your primary residence for 10 years. If you sell early, HHFDC has first right to repurchase at your original price + 1% annual appreciation + capital improvements. After 10 years, this restriction expires.

Shared Appreciation Equity (SAE): This is a permanent restriction. When you sell, HHFDC receives a percentage of your appreciation based on the gap between your purchase price and appraised value at the time of purchase. You can pay off the SAE early to get a release.

Example: If you purchased at $400K with an appraised value of $450K, your SAE percentage is 11.1%. If you later sell for $600K, you’d owe HHFDC 11.1% of your appreciation.

DEP Program: A Current Opportunity for Essential Professions

Kuilei Place was Hawaiʻi’s first project to use the Dwelling Unit Revolving Fund Equity Pilot (DEP) program. The original DEP collection sold out. On July 15, 2026, Kuilei Place opened a new offering of 11 DEP-designated residences. We have since confirmed that some of those homes remain, but the exact current count is not publicly posted and can change as applications move forward.

The July 2026 DEP residences:

• Two bedrooms and 1.5 baths
• Residence 2.9 on floors 33 through 40
• 737 sq. ft. total, including a 41 sq. ft. lanai
• Developer prices from $697,000 to $704,000
• From $627,300 after HHFDC’s 10% DEP equity purchase

How DEP works: HHFDC purchases a 10% equity interest using a 30-year, 0% interest second mortgage with no monthly payments.

The DEP second mortgage does not disappear: the $70,000 loan and HHFDC’s share of net appreciation become due when the home is sold, rented, refinanced, transferred, is no longer owner-occupied, or reaches the 30-year deadline.

Eligible professions include: healthcare workers, educators, law enforcement officers, agricultural field workers, emergency medical technicians, water safety officers, construction inspectors, correctional facility staff, and victim/witness counselors.

Prices, availability, financing examples, and program rules can change. HHFDC and the project determine final eligibility and unit availability.

Kuilei Place’s amenity package is extensive — and notably, the developer converted two of the most valuable penthouse-level units into shared amenity space rather than selling them. That means every resident gets access to 43rd-floor views.

Ground Level

• Resort-style swimming pool with lap lanes
• Two fitness centers (indoor)
• Outdoor fitness circuit — quarter-mile walking path with stations
• Two dog parks — one for active dogs, one for calm/small dogs
• Two children’s playgrounds with lawn areas
• 11 BBQ grills with reservable cabanas
• Five club rooms for private events and gatherings
• Surfboard storage
• ~600 bicycle parking spaces
• Bulky-item laundry facility
• 24/7 on-site security
• Ground-floor retail (7,211 sq ft) — Aoki Group restaurant/dining concepts

Penthouse Level (Floor 43)

• Two private dining suites with floor-to-ceiling glass and Diamond Head views
• “Hana Hou” karaoke lounge with panoramic views
• Full kitchens and bars (restaurant-grade equipment)
• Sauna and wellness spaces

Parking & EV Infrastructure

• 1,677 total stalls in a 13-story garage with speed ramp system
• 29 guest stalls
• ~25% of residents (midrise floors 1–12) park on the same floor as their unit
• Level 3 EV fast-charging stations
• EV car-sharing service for residents
• Electric scooter and bike sharing

Sustainability Features

Kuilei Place includes Hawaiʻi’s first residential greywater reuse system (in partnership with Epic Cleantec), projected to conserve approximately 11 million gallons of water annually — saving an estimated $161,000 per year in water costs. The building also features centralized solar hot water, Energy Star appliances throughout, and comprehensive EV infrastructure.

Moʻiliʻili is one of Honolulu’s best-kept secrets for everyday livability. Kuilei Place sits at 2599 Kapiolani Boulevard — squarely between Waikīkī, Kaimukī, UH Mānoa, and Ala Moana. You’re in the center of everything without paying Waikīkī or Kakaʻako prices.

What’s Nearby

Walkability & Transit

Moʻiliʻili is one of the most walkable neighborhoods on Oʻahu. From Kuilei Place, you can walk to dozens of restaurants, the UH campus, and everyday services. Multiple bus routes run along Kapiolani Boulevard and King Street. The project includes pedestrian improvements — new sidewalks along the building frontage and underground utility placement (removing overhead power lines).

The Kaimukī restaurant scene — one of Honolulu’s best dining neighborhoods — is essentially next door. Think Mud Hen Water, Sushi Ginza Onodera, Via Gelato, and dozens of local spots along Waiʻalae Avenue.

Kuilei Place falls within the Kaimukī-McKinley-Roosevelt Complex Area of the Hawaiʻi Department of Education. Here are the nearby public schools:

Private schools nearby: ʻIolani School is directly adjacent to the Kuilei Place site. Punahou School, Star of the Sea, and other private options are all within a short drive.

School assignments change — verify your zoning through the Hawaiʻi DOE GeoLocator at hawaiipublicschools.org.

✅ Pros

• Unbeatable price per square foot — roughly half of Ward Village for new construction in a prime Honolulu location
• Lowest HOA fees in class — $0.68/sq ft vs. $1.00–$2.11 at comparable projects
• 60% affordable housing — real workforce housing opportunity for local families, teachers, nurses, first responders
• Central Moʻiliʻili location — walkable to UH, Kaimukī dining, Ala Moana, close to everything
• Generous parking — 1.67 stalls per unit, included in HOA (no extra charge)
• Top-tier amenities — 43rd-floor private dining with Diamond Head views, two pools, karaoke lounge
• Sustainability leader — Hawaiʻi’s first residential greywater system, EV infrastructure, solar hot water
• Established developer — Kobayashi Group has a strong local track record
• Strong demand — 85%+ sold by early 2025, indicating market confidence

❌ Cons

• Almost sold out — only 4 priced market residences remained as of Aug 15, 2026; limited availability
• No ocean views for most units — you’re in Moʻiliʻili, not waterfront Kakaʻako
• 43-story tower in a low-rise neighborhood — the height is controversial and out of character with the surrounding area
• Traffic on Kapiolani Blvd — this corridor is already congested; 1,005 new units will add to it
• Tenant displacement history — 141 rental households from Kapiolani Village were displaced; only 2 former tenants applied to buy
• Affordable unit restrictions — 10-year occupancy requirement + shared appreciation equity limits your upside
• No rail access — unlike Ward Village or Hoʻopili, there’s no direct Skyline rail connection (bus routes only)
• Estimated completion in early 2028 — you won’t move in for a while, and the neighborhood will deal with construction impacts in the meantime
• 201H exemptions bypassed normal zoning — the project received ~$12M in fee waivers and bypassed standard neighborhood review processes

If you’re shopping for a new condo in Honolulu, you’re probably comparing these two. Here’s the honest breakdown:

The bottom line: Ward Village is the aspirational, waterfront luxury play with ocean views and a master-planned retail district. Kuilei Place is the value play — significantly cheaper per square foot, lower HOA fees, more parking, and a central Moʻiliʻili location that’s arguably more convenient for everyday Honolulu living. If views and prestige matter most, it’s Ward Village. If you want the most square footage for your dollar in a great location, it’s Kuilei Place.

Completion update — October 1, 2026: The developer’s July 21, 2026 newsletter explicitly revised the projected completion timeframe from late 2027 to early 2028, citing schedule impacts including severe weather. We reviewed the original newsletter and use that dated revision as the working estimate. Kobayashi Group’s public project page still lists Q4 2027, so the published sources remain inconsistent. Early 2028 is an estimate, not a confirmed closing or move-in date. Confirm the schedule for your residence before arranging a move.

The developer’s July 21, 2026 update reported the 43-story Tower at Floor 11, with topping off expected in the first quarter of 2027. The Terrace building’s Level 6 slab had been poured. That dated revision is the basis for the early-2028 estimate used here; confirm any later schedule changes with the project.

Sales velocity: The project received approximately 4,000 expressions of interest. Over 85% of units were sold by early 2025, and the developer’s pricing page listed just 4 priced market residences as of Aug 15, 2026. This is one of the fastest-selling new condo projects in recent Honolulu history.

The Community Controversy

Transparency matters, so here’s the full picture: Kuilei Place faced significant neighborhood opposition. Both the McCully-Moʻiliʻili and Diamond Head-Kapahulu-St. Louis Heights Neighborhood Boards voted unanimously against the project, citing concerns about the 43-story height, traffic impacts, displacement of existing tenants, and the 201H expedited approval process that bypassed standard zoning review.

The Displacement Story:

• 124 existing rental units at Kapiolani Village demolished
• 141 residents relocated in 2023
• Existing rents: $1,400–$1,800/month
• New “affordable” units: $370,600+ (unaffordable to displaced renters)
• Developer offered: 2 months free rent + relocation coordinator
• Only 2 former tenants applied to purchase units at Kuilei Place

Critics argue the project prioritized developer profits over existing community. Supporters argue 603 affordable homes in a prime location justify the trade-off.

The project received approximately $12 million in fee waivers (building permits, plan review, fire safety, water installation) and exemptions from park dedication requirements.

This is worth understanding — but it doesn’t change the practical reality for buyers: the project is approved, funded, under construction, and is planned to deliver 1,005 homes. Completion timing needs confirmation.

Market-Rate Units

The developer’s pricing page listed four priced market residences on Aug 15, 2026. Separate DEP-designated inventory also remains, although its exact current count can change. To purchase:

1. Ask our team — we’ll confirm current market-rate or DEP availability with the project and help you compare the remaining choices.
2. Get pre-qualified — You’ll need lender pre-approval before making a selection.
3. Select your unit — Choose from remaining inventory (if any).
4. Sign the purchase contract — Initial deposit of $500, then remainder of 5% down within 30 days.
5. Confirm your closing schedule — the July 21 developer update estimates project completion in early 2028; obtain the schedule for your residence before planning your move.

Affordable Units

The main 2023 affordable housing lottery is complete, but that is separate from the July 2026 DEP release. We have confirmed that DEP-designated homes remain; the exact count changes as applications progress.

Ask our team and we’ll confirm current availability, help you understand which program rules apply, and coordinate the next steps with the project and your lender.

Contact Ciena Alagao

What to Expect at Closing

Budget for these costs beyond your down payment:

• ~6 months of maintenance fees (start-up, advance, and resident manager contributions)
• Standard closing costs (title insurance, escrow fees, lender fees)
• Standard affordable buyers may be allowed to use gift funds, subject to program and lender rules; DEP applicants may not use gift funds

For a complete walkthrough of buying new construction in Hawaiʻi, see our step-by-step guide.

How much does a condo at Kuilei Place cost?

Current pricing depends on whether you are considering market-rate, standard HHFDC, or DEP inventory. The developer listed four market-rate residences from $833,400 to $1,308,800 on Aug 15, 2026. The July DEP release advertised two-bedroom residences from $697,000 to $704,000, or from $627,300 after HHFDC’s 10% equity purchase. Ask our team to confirm what remains before relying on a specific price.

Is Kuilei Place affordable housing?

Partially — 60% of units (603 out of 1,005) are designated affordable under HHFDC’s 201H program. The remaining 402 units are market-rate. Affordable units require income qualification between 80% and 140% AMI, primary residence occupancy, and a 10-year buyback restriction.

How do I qualify for an affordable unit at Kuilei Place?

Standard affordable and DEP requirements differ. The standard program considers household income, Hawaiʻi residency, owner occupancy, property ownership, and financing. DEP adds stricter rules: no other real property, no gift funds, at least one applicant in an eligible profession, and continued eligibility through closing. HHFDC makes the final determination.

Is the Kuilei Place lottery still open?

The main 2023 lottery is complete, but the July 2026 DEP release is a separate opportunity. We have confirmed that DEP-designated homes remain, although the exact count can change. Ask our team and we’ll verify current availability.

When will Kuilei Place be finished?

The developer’s July 21, 2026 newsletter revised estimated completion from late 2027 to early 2028. We reviewed the original update on October 1 and use early 2028 as the working estimate. Kobayashi Group’s public project page still lists Q4 2027. Confirm the current closing and move-in schedule for your residence; estimated project completion does not guarantee either date.

What are the HOA fees at Kuilei Place?

Estimated at $0.68 per square foot, or approximately $340–$680/month depending on unit size. This is significantly lower than comparable new Honolulu condos. Parking is included — no separate monthly charge.

How does Kuilei Place compare to Ward Village?

Kuilei Place is roughly half the price per square foot (~$1,000 vs. $1,500–$2,200) with lower HOA fees ($0.68 vs. $1.00–$2.11/sq ft). Ward Village offers waterfront location and ocean views. Kuilei Place offers better value, more parking, and a central Moʻiliʻili location. See our Ward Village guide for the full comparison.

Who is the developer of Kuilei Place?

Kuilei Place is developed by 2599 Kapiolani, LLC — a joint venture between the Kobayashi Group and BlackSand Capital (formerly MacNaughton Group). The Kobayashi Group is one of Hawaiʻi’s most established development and construction firms. Albert C. Kobayashi Inc. is the general contractor.

Can I still buy a unit at Kuilei Place?

Yes. We have confirmed that DEP-designated homes remain, although the exact count can change. The developer also listed four priced market residences on Aug 15, 2026. Ask our team and we’ll check the current choices with the project.

What are the affordable housing restrictions at Kuilei Place?

Affordable buyers face a 10-year primary residence requirement and a permanent Shared Appreciation Equity (SAE) obligation. If you sell within 10 years, HHFDC can repurchase at your original price + 1% annual appreciation + improvements. The SAE requires you to share a percentage of your appreciation with HHFDC upon resale — though you can pay it off early for a release.

What is the DEP program at Kuilei Place?

DEP lets eligible buyers use a 30-year, 0% interest, no-monthly-payment second mortgage for HHFDC’s 10% equity purchase. A new 11-home DEP release opened in July 2026, and we have confirmed that some homes remain. Eligible professions and stricter property, gift-fund, and owner-occupancy rules apply. Ask our team to verify availability and help you understand the process.

Kuilei Place is one of several major new construction projects reshaping Oʻahu’s housing landscape. Explore our other development guides to compare your options:

• Ward Village — Kakaʻako’s master-planned waterfront community
• All Oʻahu Developments — Complete directory of new construction across the island

This guide is for informational purposes only and does not constitute real estate or lending advice. Pricing, availability, financing assumptions, HOA fees, and program details can change. Ask our team so our licensed Hawaiʻi real estate team can confirm the latest project information; HHFDC and lenders make their own final determinations.