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Thursday, April 10, 2014

Update on 'Ohana Hale in McCully - Moderate Priced Condominium Tower

Franco Mola, a local Hawaii developer, is hoping to build a 21 story condominium tower in McCully with a total of 180 studio and one-bedroom units.  The project, called 'Ohana Hale, would be located on the corner of McCully and South King Street.  According to Mola the units would range in price from $250,000 to $440,000 Fee Simple. The majority of the units would be restricted to buyers who earn nor more than 120 percent of Honolulu's median annual income.  This equates to $80,000 for a single person, or $92,000 for a couple.  Mola stated, "Most of the recent residential condominium developments in urban Honolulu are in the luxury price range.  'Ohana Hale provides more affordable and modest-sized market-rate units to fill the void that is ever-increasing in the urban Honolulu housing market."

However, the McCully-Moiliili Neighborhood Board has raised several objections to the project. Currently there is a height restriction for the area of 150 feet, and Mola is requesting that be raised to 189 feet.  Furthermore, Mola is requesting a zoning variance to double the allowable unit density and to reduce the setbacks to increase the building's size.  Finally, neighbors note that building a 21 story condominium on the property would greatly change the appearance of the area, which is currently low-rise residential properties and a few commercial buildings.  The neighborhood board is willing to support the project, provided that Mola decides to not to request any zoning variances.

Source: Honolulu Star Advertiser, 4-10-2014,
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC