Kakaako Condominiums
Honolulu's Most Exciting Urban Neighborhood

📋 April 11, 2026 — Kakaako Market Analysis

Kakaako Condominiums in 2026: Honolulu's Most Transformative Neighborhood Reaches a New Milestone

By Jeb Fuller, Honolulu Condo Company  |  April 11, 2026

As Honolulu's Condo Expert, in my 25+ years as a condo broker and appraiser, I have watched Kakaako transform from an industrial warehouse district into the most exciting urban neighborhood in Hawaii. What began with a handful of early high-rises along South Street has evolved into a multi-billion dollar master-planned community that now rivals urban neighborhoods in San Francisco, Seattle, and Miami for design quality, amenity level, and lifestyle appeal.

Two Distinct Markets Within One Neighborhood

Kakaako is not a single market — it is two distinct markets operating side by side. The first is the Ward Village ecosystem, developed by Howard Hughes Corporation, which has established a luxury brand that commands a consistent premium over comparable buildings elsewhere in Honolulu. Ward Village towers — Waiea, Anaha, Ae'o, Ko'ula, A'ali'i, and the upcoming Mahana and Kalae — sell at $1,000–$2,000+ per square foot and attract a mix of local luxury buyers, mainland transplants, and international investors.

The second market is the broader Kakaako corridor — buildings like 801 South Street, Ke Kilohana, The Collection, Keauhou Place, and One Waterfront Towers — which offer modern urban living at price points ranging from $390,000 to $1.5M. This segment has historically been undervalued relative to Ward Village, and in my view, represents some of the best long-term value in the Honolulu condo market today.

Kakaako Condominium Market Snapshot — Spring 2026

Segment	Price Range	Avg $/Sqft	Notable Buildings
Ultra-Luxury	$2M – $10M+	$1,700–$2,500	Waiea, Park Lane, Hokua
Luxury	$800K – $2M	$900–$1,400	Anaha, One Ala Moana, Hawaiki Tower
Mid-Market	$500K – $900K	$700–$1,000	Moana Pacific, Keauhou Place, Symphony
Value / Entry	$300K – $650K	$600–$800	801 South St, Ke Kilohana, Royal Capitol Plaza
Kakaako Median (Redfin Spring 2026)	~$838K	—	All buildings combined
Oahu Condo Median (March 2026)	$510K	—	+2.0% YoY per HBR

The Ward Village Effect on the Broader Kakaako Market

One of the most significant dynamics I track in Kakaako is what I call the "Ward Village Effect" — the way that Howard Hughes Corporation's consistent delivery of world-class towers has raised the perceived value of the entire neighborhood. Every time a new Ward Village tower sells out at record prices, it validates Kakaako as a premium address and pulls up values in surrounding buildings.

This is particularly evident in buildings like The Collection (601 Auahi St) and Keauhou Place (555 South St), which are within walking distance of Ward Village's retail and amenities but priced at a meaningful discount to Ward Village towers. Buyers who want the Kakaako lifestyle without the Ward Village price tag consistently find value in these buildings.

801 South Street: The Value Anchor

No discussion of Kakaako condominiums is complete without addressing 801 South Street — the largest single condo building in the neighborhood with 1,045 units across two towers. At $390,000–$800,000 with an average of $978/sqft, it represents the most accessible entry point into Kakaako for buyers who want modern construction, resort amenities, and proximity to the neighborhood's transformation without paying Ward Village prices.

I have sold and appraised dozens of units at 801 South Street over the years. The building consistently attracts young professionals, investors, and buyers relocating from the mainland who want urban Honolulu living at a reasonable price. Rental demand is strong, and the building's size creates a liquid resale market.

What's Coming: Waiakoa and the Our Kakaako Master Plan

The most significant development on the horizon for Kakaako is Waiakoa — a 1,032-unit, two-tower project at 756 Auahi Street, part of Kamehameha Schools' "Our Kakaako" master plan. With groundbreaking anticipated in 2026, Waiakoa will add over 1,000 new units to the neighborhood and further cement Kakaako's position as Honolulu's premier urban living destination.

The Our Kakaako master plan encompasses 29 acres and is designed as a mixed-use, mixed-income community — a deliberate contrast to the pure luxury positioning of Ward Village. This creates a more diverse and resilient neighborhood fabric, which in my experience as an appraiser, is a positive indicator for long-term value stability.

"Kakaako is the only neighborhood in Honolulu where you can buy a $400,000 condo and a $10 million penthouse on the same block. That range — and the quality of what's been built here over the last 15 years — is what makes this neighborhood unlike anything else in Hawaii." — Jeb Fuller, Honolulu Condo Company

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