5 days ago
Construction ready to begin on affordable housing project near Ala Moana
JL Capital has officially broken ground on Amana Lofts, a new affordable housing development at 765 Amana St. that will bring 64 rental units to Hono lulu's urban core.
Located near Ala Moana Center and the planned Ala Moana rail station, the project aims to meet the growing demand for affordable housing in one of the city's most accessible and transit-connected neighborhoods. The development will convert a five-story former office building with ground-floor parking into studio, one-bedroom and two-bedroom apartments.
According to Michael Vachio, senior vice president of construction and development, the building had remained mostly vacant after years of use as an office space.
Rather than acquiring new land, the project will utilize the existing structure by demolishing and redeveloping it into affordable housing, making use of the site's central location and existing infrastructure.
Each unit will feature contemporary interiors and 14-foot ceilings, with the design focused on repurposing existing infrastructure to create modern, functional living spaces for local residents.
All 64 units will be reserved for households earning up to 80 % of the area median income, in line with City and County of Honolulu affordable housing requirements. This ensures that working families, seniors and individuals can access stable housing options in a central location.
As of 2025, HUD has set the AMI for the Urban Honolulu area at $129, 300 for a four-person household. Based on that figure, 80 % AMI translates to an annual income of $121, 600 for a family of four.
The limits are used to determine eligibility for affordable housing programs and are adjusted annually to reflect changes in the local economy—and help ensure that housing resources are targeted to residents most in need of assistance.
The project will also include on-site parking, elevator access and shared mobility options such as carshare and bikeshare programs to enhance transportation access for residents.
Vachio said the project is completely privately funded, with a total cost of around $14 million.
Amana Lofts is scheduled for completion in 2026.
