Side by side
New construction vs. resale
| Factor | New build | Existing home |
|---|---|---|
| Price negotiation | Builders protect list price; they discount through incentives instead | Room to negotiate price, repairs and seller credits |
| Incentives | Closing-cost help or rate buydowns, often tied to the builder’s preferred lender | Seller credits toward closing costs or a buydown |
| Maintenance | Low early on, with builder warranties | Depends on age; budget for roof, plumbing and termites |
| Fees | Master association plus HOA; some communities add solar or infrastructure fees | Varies; older condos may face special assessments |
| Timeline | Can be months to a year; rate locks need planning | Usually 30 to 45 days |
| Condo financing | New projects need lender review and enough presales | Building history and reserves are known |
Builder incentives
You don’t have to use the builder’s lender
You are free to shop your loan. Builders often tie their incentive to a preferred lender, so compare the full offer: rate, points, lender fees and the incentive. I’ll run the builder’s Loan Estimate next to mine. Compare My Quote →
Where the new homes are
Oahu’s main new-construction areas
- Hoʻopili (Ewa). A large master-planned community of single-family homes and townhomes near the rail line and Kapolei.
- Koa Ridge (Central Oahu). Master-planned homes and condo townhomes between Mililani and Waipiʻo, close to Schofield.
- Kalaeloa and Ewa. Ongoing single-family and townhome phases.
- Kakaʻako and Ala Moana. New high-rise towers, including Ward Village and Our Kakaʻako. New towers may need extra project review until enough units sell, so talk to me before you sign a presale contract.
Which loans fit
Financing each option
Both work with conventional, FHA and VA loans. FHA and VA need the condo project approved. Presale contracts with long build times can use an extended rate lock, and a construction loan fits if you’re building on your own lot.
Common questions
New Builds vs. Existing FAQ
Do I have to use the builder’s lender?
You can shop any lender. Builders often offer incentives for using theirs, so compare the full cost, not just the incentive.
Can I lock my rate on a new build that finishes next year?
Some lenders offer extended locks for a fee, or a float-down option. I’ll price both.
Are new Kakaʻako condos warrantable?
Often, once the project is reviewed and enough units have sold. Until then, financing can be limited.
Sources: Fannie Mae Selling Guide B4-2.2 (new condo projects); HUD Handbook 4000.1; CFPB, “Shop around for your mortgage” (consumerfinance.gov).
