Owner-occupant sales are set to begin for select residences within Muse Honolulu, a planned luxury high-rise in Honolulu’s Ala Moana neighborhood.
A public lottery will be held next month.
The deadline to apply is Wednesday, July 2, and the lottery itself will be held at 10:30 a.m. Wednesday, July 9.
"We're very encouraged by the level of interest so far," Tim Lee, CEO of project developer JL Capital, a Honolulu-based real estate and private equity firm founded in 2017 that’s focused on the Ala Moana neighborhood, told Aloha State Daily. "There's been strong engagement from prospective buyers, and we're hopeful that momentum continues throughout the application period."
Located at 1538 Kapi‘olani Blvd., the planned 39-story tower was designed by architecture firm Bohlin Cywinski Jackson and local partner Benjamin Woo Architects, a recent announcement noted. It’ll include 315 residences with floor-to-ceiling windows, high-end appliances and “spacious floor plans.”
There are 158 owner-occupant residences available in this offering, which include a mix of studios, one-, two and three-bedroom tower residences, urban lofts and townhomes, according to the announcement. Prices start in the $700,000s for studios, $800,000s for one-bedroom units; $1.2 million for two-bedroom units and $2.2 million for three-bed homes.
Lee told ASD in an emailed response to questions that by law, half of all units must be offered exclusively to owner-occupants for 30 days. That's standard across new residential developments, he noted.
"Buyers must sign an affidavit stating that the unit will serve as their primary residence for at least one year," Lee explained, noting that remaining units will be available to other qualified buyers.
The primary target buyers for Muse Honolulu are Hawai‘i residents, "especially those looking to downsize or those who want the convenience of living, working and enjoying life in the heart of town," he said.
There'll be plenty of amenities across three levels for those who live there, the announcement noted, including a rooftop sky lounge with 180-degree views of Diamond Head, Ala Moana Beach Park and the ocean; a wellness spa with steam rooms, saunas, treatment rooms and a multi-level fitness center; and a recreation deck with a pool, hot and cold plunges, golf simulator, putting green, private dining rooms and more.
This is just the latest project for JL Capital, which also developed Sky Ala Moana, a $507 million mixed-use twin tower condominium and hotel at 1388 Kapi‘olani Blvd. Renaissance Honolulu Hotel & Spa, a Marriott brand, is located in its East Tower.
The developer also recently broke ground on Amana Lofts, an adaptive reuse project that will convert a five-story former office building at 765 Amana St. into 32 studio, 20 one-bedroom and 12 two-bedroom affordable rental apartments.
Lee told ASD at the May 30 groundbreaking of Amana Lofts that a second, a ground-up project at 1564 Kalākaua Ave., is set to get underway in several months and will create another 37 affordable units.
Earlier this month, it also was announced that JL Capital acquired a 40% ownership stake in Tournet Hawai‘i Inc. a travel and transportation agency focused on the Korea-Hawai‘i market.
Construction on Muse Honolulu is expected to begin next year and anticipated to be finished in late 2028. Lee says the total development cost has not yet been finalized.
The Muse Honolulu sales gallery is located at 1388 Kapiolani Blvd., Suite 101, and is open 10 a.m. to 6 p.m. Monday through Friday, and 11 a.m. to 5 p.m. Saturday and Sunday.
Find out more about Muse Honolulu here. For more information, you can also email info@musehonolulu.com or call 808-900-8597.
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Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
