The Howard Hughes Corp. reports strong sales for two ultra-luxury high-rise condominiums in Kakaako

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Honolulu's Kakaako neighborhood— Anaha and Waiea, seen here in this rendering.

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Honolulu’s Kakaako neighborhood— Anaha and Waiea, seen here in this rendering.

The Howard Hughes Corp. reports strong sales for two ultra-luxury high-rise condominiums in Kakaako

Duane Shimogawa Reporter – Pacific Business News

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Kakaako — Anaha and Waiea — part of its Ward Village master-planned community, according to its first-quarter earnings report released Thursday.

“We are pleased with the sales progress to date, which is proceeding according to our expectations for the high-quality residences we are developing,” the Texas-based developer said.

It also has received $55 million in buyer deposits, representing about $609 million of gross sales revenue for the two high-rises, which began pre-sales in February. The gross sales revenue assumes that buyers will close on the units when they are completed.

Construction of the two towers is expected to get underway this summer.

Meanwhile, construction for ONE Ala Moana, a 206-unit ultra-luxury condominium tower being developed in a 50/50 joint venture involving The Howard Hughes Corp., The MacNaughton Group and the Kobayashi Group., is now 52 percent complete with an expected opening in the fourth quarter, the Howard Hughes Corp. said.

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