Construction for Moana Pacific to begin this fall
With both towers nearly sold out, Moana Pacific plans to begin construction of its luxury condominium project in September.
Hawaiian Dredging Construction Company Inc. has been selected by KC Rainbow Development LLC as the general contractor.
"We are proud to be working with Hawaii Dredging," said Fred Chan, general manager of KC Rainbow. "They bring a wealth of experience to a project of our size."
Two oval-shaped towers offering 706 units are planned for a six-acre site at Kapiolani Boulevard and Piikoi Street.
Prospective buyers can register for an owner-occupant lottery for the East Tower until 6 p.m. Saturday, with a $3,000 mandatory deposit. The lottery will be held Tuesday, June 22.
Only two penthouses are left in the West Tower. Due to strong sales, KC Rainbow will begin construction on the West Tower first.
"The strength of the demand in the market is very pleasantly surprising for us," said project manager Allen Leong. "The demand is so strong we could move up the start date on construction of the second tower."
Prices for fee-simple one-bedroom units start at about $350,000, while two-bedroom units range from $450,000 to $580,000.
Three-bedroom condos range in price from about $600,000 to $800,000. Units can be combined for $1.5 million and above.
Coldwell Banker Pacific Properties is handling sales.
The contemporary-style condos feature floor-length glass windows and a community putting green, tennis courts and jogging track.
The project is among four high-rise condominiums planned in Kakaako.
