Hale Ka Lae is a new condo project coming to Hawaii Kai by Avalon Development. It is a conversion of the existing 7000 Hawaii Kai Drive rental project where the 213 units will be converted from rentals to individually owned condo units.
For more information please call new condo project expert Marcel Chan (R) at (808) 392-1501 or email Marcel@HawaiiLiving.com.
Hale Ka Lae in Brief
Hale Ka Lea is a project made up of 2 structures: a) 7000 Hawaii Kai Drive (213 units), which is the structure fronting the street and pool area and all units will be converted to condos for sale, and b) 7002 Hawaii Kai Drive (56 units), which is the structure above the parking structure and exclusively affordable rentals and will remain rental units. This tower, 7002 Hawaii Kai Drive, does not offer residents access to the recreation deck and amenities of the 7000 Hawaii Kai Drive tower.
Also Good to Know About Hale Ka Lae
Price Range: $479,000 to $750,000 (expected).
Configurations: 2BR to 4BR – 213 units total that will be sold.
Unit Features: Split AC, Washer, Dryer, Dishwasher, microwave, range/oven, Grohe bathroom fixtures, assigned parking, double pane tinted windows,
Lockout units: Some units have two separate living quarters with separate entrance giving owners an option to live in one and rent out the other
Sales process: Tenants will have first right to purchase the unit they reside in, then developer will offer 50% of units to owner occupants and finally remaining units available to purchase for anyone (owner-occupants or investors).
Developer expects about 100 units will be ready to sell in the fall 2018.
Hale Ka Lae Amenities
Pool, hot tub, movie room, club room, fitness, kids playground, cabanas.
Reason for Condo Conversion
Developer, Avalon, has a mortgage on the property and with rising interest rates it is harder to justify the costs vs income in case they were to refinance. Hence the condo conversion.