Yes, but mind you, this is Japan we're talking about here.
Also, I'm pretty sure this is one of those circumstances where the game's content regarding Ken and female-MC will be 'toned down' even more to accurately reflect Western sensibilities on the subject in the US and European releases. It's pretty clear in the Japanese game he and female-MC can "date" (although the contents of said date don't really allege any sexual activity to the same extent as with other characters.) I'm not even sure to what extent that will survive in the US release, again, I'm hoping it's toned down to something like an unrequited crush at most.

But yes, the lack of palpable homosexual options is somewhat upsetting. The closest you may get is that Aigis still desires to protect the MC even if she's female with the same sort of zeal (there's really nothing sexual to that, though, and the FES Aigis social link where things finally do get serious doesn't exist in the female playthrough.) There's also the fact that you can choose Elizabeth over her male variation if you're a female MC and, if you do so, presumably you'll get to "date" Elizabeth as a female. (Though all you're really doing is showing her around town and listening to her ludicrous antics.) Strangely enough, you don't have a choice if you're male-MC, you're stuck with Elizabeth.

Also, it's important to note that Persona 3 Portable follows Persona 4's lead in allowing you to accept or reject relationships. This time, you won't be forced into anything romantic with anyone in order to acquire the best Personas. You can become their lover or remain their best friend, meaning you can avoid the playa' routine entirely and stay single or remain committed in only one relationship.