Great choices in ukes. I had both (but i got the cedar moonbird) at the same time. If I could only choose one, I would get the moonbird. The KTM is a great uke and sounds great. The newer KTM have a very balanced and focused sound, very resonant, great volume, and their gloss looks really good. But the moonbird has more frills (ebony head plate, maple rosette, satin neck, and radius fretboard) and louder. The sound of the moonbird is super unique. It projects a lot and has a big woody sound with great tone. I think the Koaloha has slightly more narrow string spacing and the radius fretboard on the moonbird makes it slightly easier to do bar chords.
I got both around the same time and I play the moonbird much more. I think the moonbird playability is slightly easier with the radius fretboard and I prefer the string spacing for fingerpicking. But the sound is what pulls me most. The sound is so full with some great bottom end.
Just my 2 cents. Don't think you would regret either.