It’s a risky move, but former U.S. Rep. Colleen Hanabusa’s new role as chairwoman of the Honolulu rail agency’s board could potentially reap rewards down the line if she is able to keep the Honolulu Authority for Rapid Transportation (HART) on track — and in check. The rail transit project has been plagued by fuzzy financials and an ever-increasing price tag, now at $6.57 billion.

Hanabusa replaces Don Horner, the embattled HART board chairman who resigned under pressure from City Council Chairman Ernie Martin and Mayor Kirk Caldwell, amid growing concern over the project’s finances. Already, Hanabusa has said that a priority will be looking into reforming the governance of the board to allow more oversight of HART.

Kakaako condo project does surprisingly well

Not surprisingly, all 375 moderately-priced condominium units in the Ke Kilohana project in Kakaako have sold out.

The prospective owners got their chance to buy in a lottery that attracted 956 applicants.

Isn’t this tower, located at 988 Halekauwila St., the one developer Howard Hughes Corp. last year proposed converting to a rental project, with more units and rents at affordable levels — but only for a term of 15 years? The project for which the company said it would be easier to find qualified renters than buyers?

Yes, it is.