To build the Linux kernel for ARM based devices we must install an ARM-compiler. Other guides here describe how to install the 4.8 version, but this is blacklisted in modern kernel versions, due to a serious compiler bug.
AOSP also provides version 4.7 of gcc, so we can use this for our compilation. Download this compiler from AOSP, by executing:
git clone https://android.googlesource.com/platform/prebuilts/gcc/linux-x86/arm/arm-eabi-4.7