I had to add the following permissions to the cloudformation template generated by the kops create cluster command in order for the load balancer to be created:
iam:CreateServiceLinkedRole
ec2:DescribeAccountAttributes
I'm not sure if that's a config I missed or something I did wrong, but following the directions in the documentation, that's what I ran in to. This may be more of a documentation issue than anything else, since this seems to be more on the kubernetes side, but I thought'd I'd bring it up, just in case.