Brookfield Properties is advancing plans to develop Ala Moana Plaza, a new mixed-use, all-rental high-rise located at the intersection of Piikoi and Kona Streets in Honolulu. Situated adjacent to the Ala Moana Center, the project requires an Interim Planned Development-Transit (IPD-T) permit and a Transit-Oriented Development (TOD) plan amendment to allow for increased density and a maximum building height of 400 feet. The proposed 40-story tower is designed to introduce new residential housing options directly within the urban core, positioned approximately 180 feet from the planned Ala Moana rail transit station.

The development is slated to feature 583 residential units, offering a combination of studio, one-bedroom, two-bedroom, and three-bedroom floor plans. According to the proposal, the building will include 459 market-rate rentals and 124 affordable rental units. The affordable residences will be price-restricted to tenants earning 80% of the Area Median Income (AMI) for a period of 30 years. To support the project’s transit-oriented focus, the building will sit atop a five-story podium containing 220 vehicle parking stalls and designated bicycle parking, encouraging alternative transportation for its residents. The site design also incorporates ground-floor commercial space, pedestrian infrastructure upgrades, and a monetary contribution toward local street improvements.

The Ala Moana Plaza project addresses ongoing supply constraints within Honolulu’s highly competitive real estate market. With homeownership and condominium costs remaining prohibitively high for many local residents, increasing the inventory of long-term rental units in a central location provides critical workforce housing options closer to major employment hubs. Furthermore, the development is expected to stimulate the local economy by generating new construction jobs and wages, aligning with broader municipal goals to cultivate sustainable, transit-enhanced neighborhoods across Oahu.