NonstableK-Theory for operator algebras

We show that the homotopy groups of the group of quasi-unitaries inC ^*-algebras form a homology theory on the category of allC ^*-algebras which becomes topologicalK-theory when stabilized. We then show how this functorial setting, in particular the half-exactness of the involved functors, helps to calculate the homotopy groups of the group of unitaries in a series ofC ^*-algebras. The calculations include the case of all AbelianC ^*-algebras and allC ^*-algebras of the formAB, whereA is one of the Cuntz algebras O_n n=2, 3, ..., an infinite dimensional simpleAF-algebra, the stable multiplier or corona algebra of a-unitalC ^*-algebra, a properly infinite von Neumann algebra, or one of the projectionless simpleC ^*-algebras constructed by Blackadar.