Waiakoa: Kakaako’s Next Mega-Project Will Add 1,032 Units Across Two Towers Starting This Year

Kakaako’s skyline is set to grow even taller with the announcement that Waiakoa, a massive two-tower residential development, will break ground in 2026. The project will deliver 1,032 units to Honolulu’s most rapidly transforming neighborhood, representing one of the largest single residential additions the city has seen in recent years.

Located on Block D of the Our Kakaako master-planned community, Waiakoa will rise along the makai side of Ala Moana Boulevard between Ward Avenue and Kamani Street. The development marks another significant milestone in the ongoing transformation of what was once an industrial area into Honolulu’s newest urban residential hub.

The twin towers will feature a mix of studio, one-, two- and three-bedroom condominiums, with units ranging from approximately 400 to 1,200 square feet. Pricing is expected to start in the mid-$600,000s for studios, placing the development squarely in Honolulu’s competitive mid-market segment.

“Waiakoa represents the continued evolution of Kakaako into a true live-work-play community,” said Michael Chen, a Honolulu-based real estate analyst who has tracked the neighborhood’s development for over a decade. “With over 1,000 units coming online, this project will significantly impact housing supply in urban Honolulu.”

Amenities and Design Features

The development will include extensive amenities spread across multiple floors, including a fitness center, swimming pool, and rooftop recreation areas with panoramic views of Honolulu Harbor and the downtown skyline. Ground-level retail spaces are planned to activate the streetscape and serve both residents and the broader Kakaako community.

Waiakoa’s design emphasizes indoor-outdoor living, a hallmark of Hawaii’s residential architecture. Each unit will feature private lanais, while common areas will incorporate open-air elements to take advantage of trade wind cooling and ocean breezes.

The project is being developed by Kobayashi Group, the same company behind other successful Kakaako projects including Ae’o and Anaha. Architecture firm Solomon Cordwell Buenz, known for their work on several Hawaii luxury developments, is leading the design.

Infrastructure and Transportation

The timing of Waiakoa’s construction aligns with several major infrastructure improvements in the area. The Honolulu rail system’s downtown stations are expected to be operational by the time residents move in, providing direct access to West Oahu and the airport.

Additionally, the city’s plans for enhanced bike lanes and pedestrian improvements along Ala Moana Boulevard should be completed before Waiakoa opens, creating better connections to nearby neighborhoods like Ward Village and downtown Honolulu.

Parking will be provided in a multi-level garage integrated into the tower bases, with approximately 1.2 parking stalls per unit. The development will also include electric vehicle charging stations and bike storage to accommodate alternative transportation options.

Market Impact and Neighborhood Context

Waiakoa joins a growing list of high-rise developments that have reshaped Kakaako over the past two decades. The neighborhood now houses over 8,000 residents, a dramatic increase from fewer than 2,000 just 15 years ago.

The project’s scale places it among the largest residential developments in recent Honolulu history, comparable to major Ward Village towers like Ae’o and Waiea. However, Waiakoa’s positioning in the mid-market segment could attract a different demographic than some of the area’s luxury-focused projects.

Pre-sales for Waiakoa are expected to begin in early 2025, with construction slated to start the following year. The development timeline projects completion of the first tower by 2029, with the second tower following approximately 18 months later.

The project will need to navigate Honolulu’s complex permitting process and ongoing concerns about infrastructure capacity in Kakaako. Traffic congestion and utility capacity have been persistent challenges as the neighborhood’s population has grown rapidly.

For prospective homebuyers, Waiakoa represents one of the few opportunities to purchase a new condominium in urban Honolulu at a relatively accessible price point. With inventory remaining tight across the island and construction costs continuing to rise, the project could provide important housing supply relief for Oahu’s middle-income residents seeking alternatives to single-family homes in outlying areas.

The success of Waiakoa will likely influence future development decisions in Kakaako and serve as a test case for whether the neighborhood can continue to absorb large-scale residential projects while maintaining livability for existing residents.