The Bento Box (Honolulu, Wahiawa: 2015, apartments, renters)

[WaikikiBoy]

The Bento Box micro-unit apartments: Will this catch on and grow to become a popular housing option to help fill rental housing shortage's for lower to middle incomes ? Or a one-hit wonder that isn't going to last ?

The first one going to be built in Wahiawa with about 54 units of about 300 sq ft each.

They are looking to find land to build a second micro-unit mid-income apartment building in Kakaako next.

Here is the article. Will those size units be in demand at $1,400 / month in Wahiawa ? Will it become a new direction for low to mid income housing to eleviate some of the shortage and grow in number of buildings ? Or just an idea that won't continue ?

http://www.bizjournals.com/pacific/n...g-project.html

[whtviper1]

Originally Posted by WaikikiBoy

The first one going to be built in Wahiawa with about 54 units of about 300 sq ft each.

Will those size units be in demand at $1,400 / month in Wahiawa ?

$1,400/month for 300 sq ft (about 70% the size of a 2 car garage) to sit in traffic for 90 minutes each way into town. Yikes.

[pj737]

Originally Posted by WaikikiBoy

The Bento Box micro-unit apartments: Will this catch on and grow to become a popular housing option to help fill rental housing shortage's for lower to middle incomes ? Or a one-hit wonder that isn't going to last ?

The first one going to be built in Wahiawa with about 54 units of about 300 sq ft each.

They are looking to find land to build a second micro-unit mid-income apartment building in Kakaako next.

Here is the article. Will those size units be in demand at $1,400 / month in Wahiawa ? Will it become a new direction for low to mid income housing to eleviate some of the shortage and grow in number of buildings ? Or just an idea that won't continue ?

http://www.bizjournals.com/pacific/n...g-project.html

$1,400-$1,600 plus utilities in Wahiawa is a stretch. I'm surprised they're taking an urban-esque project and plopping it in that area. Wahiawa doesn't have the right demographics to support those rents.

This would do very well in town at even a slightly higher price point... but that $800K parcel of land in Wahiawa would cost over $3 million in town. Rent would have to approach $1,800-$1,900 per studio to service the additional debt.

Of course to most of the forum members here, that's a deal.

[pj737]

Originally Posted by whtviper1

$1,400/month for 300 sq ft (about 70% the size of a 2 car garage) to sit in traffic for 90 minutes each way into town. Yikes.

Cost of driving one mile (just operating cost - not ownership cost) in an average car is 34 cents.

34 cents x 24 miles x 2 trips = $16.32/day. If these renters work in town, that's an extra $400/mo just in vehicle OPERATING costs. Never mind the hundreds of hours of their lives their flushing down the toilet every year + stress.

[AlohaAina3]

I agree a little steep for the community. Yes as the population rises this could be a solution. But don't expect prices to go down if supply goes up this is Oahu. I am curious with global climate changing and the tradewinds dying and its getting warmer every year will in10 years or more, will oahul be a desirable place to live with temps in the 80s 90s on average vs 70s 80s decades ago? Stick around housing prices maybe going down or more available in future.

[Mikala43]

Originally Posted by AlohaAina3

I agree a little steep for the community. Yes as the population rises this could be a solution. But don't expect prices to go down if supply goes up this is Oahu. I am curious with global climate changing and the tradewinds dying and its getting warmer every year will in10 years or more, will oahul be a desirable place to live with temps in the 80s 90s on average vs 70s 80s decades ago? Stick around housing prices maybe going down or more available in future.

Rather dramatic. We're having an El Nino year. Have data on those temp changes over the last 45 years?

Back on topic: That seems VERY steep for Wahiawa (though I am not familiar with rental prices there). It's horrible there, high crime, no significant stores, ugly..... far from jobs and social services.

[hotzcatz]

I'm guessing when they say "about 300 square feet each" they mean 312 square feet. At least, I think that's the minimum size by code that you are allowed to have as a dwelling unit. Minimum code also requires a separate toilet/shower area from the living room/sleeping area and a separate closet, I think. I'd have to go look up the minimums required by code to be certain, though.

If the apartment building has a large usable common area, then the small units wouldn't matter so much. However, minimum sizes with no communal areas wouldn't be all that desirable, IMHO.

[WaikikiBoy]

Originally Posted by Mikala43

Rather dramatic. We're having an El Nino year. Have data on those temp changes over the last 45 years?

Back on topic: That seems VERY steep for Wahiawa (though I am not familiar with rental prices there). It's horrible there, high crime, no significant stores, ugly..... far from jobs and social services.

It does seem like an unusual choice for a first location. The other issue I see is that, at only 300 ft you are only going to comfortably fit 1 person. So that one person must earn enough to cover the entire rent vs a larger unit in the same area with 2 people splitting the cost.

It will be interesting to see what kind of demand there will be with that combination of size, rent and location.

[Mikala43]

I know they were doing something like that in London, and Kapolei has 700 sq ft units being sold, which I thought was a great idea.

I don't get it, high rent for one person in an abnormally small area, in a bad area.

[pj737]

Originally Posted by hotzcatz

I'm guessing when they say "about 300 square feet each" they mean 312 square feet. At least, I think that's the minimum size by code that you are allowed to have as a dwelling unit. Minimum code also requires a separate toilet/shower area from the living room/sleeping area and a separate closet, I think. I'd have to go look up the minimums required by code to be certain, though.

If the apartment building has a large usable common area, then the small units wouldn't matter so much. However, minimum sizes with no communal areas wouldn't be all that desirable, IMHO.

That is incorrect. You can fit 2 legal homes inside your 312 square foot figure. The minimum size for a legal home according to the IRC (which the Honolulu DPP has adopted) is 138 square feet.

Each dwelling must have at least one room that measures a minimum 120 SF. The kitchen and sleeping area can be inside that 120 SF. Code allows bathrooms to be as small as 18 SF. So 120+18 = 138 SF. If you want a bedroom in the home it needs to be at least 70 SF in size with the shorter dimension being no less than 7 feet. And the closet can be inside that 70 SF (there is no minimum size for a closet). So a "one bedroom home" would need to be at least 208 SF. Two bedroom, 278 SF, and so on.