It was announced last week the Boasson Hagen, 27, would leave Team Sky at the end of the year, bringing to an end his five-year association with the team.
Danish outfit Tinkoff-Saxo are understood to be leading the race for his signature, but no deal has yet been announced.
"We've not confirmed anything at the moment and we'll be working on something in the next two to three weeks," Hungerholdt told Cyclingnews.
"The point was that he needed new challenges and that's why he's moving on. We confirmed to Team Sky that he would be leaving last week.
"They hadn't offered a contract to Edvald but there had been some good talks and there wasn't any problems with the team. It wasn't anything to do with money. They did want to keep him."
Boasson Hagen has won over twenty races since joining the team, but his last victory was over a year ago in the Norwegian national time trial championships.