The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 15th, 2015

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Chinatown/Iwilei, Hawaii

cHINATOWNChinatown/Iwilei median real estate price is $426,407, which is less expensive than 77.6 percent of Hawaii neighborhoods and 13.8 percent of all U.S. neighborhoods. The average rental price in Chinatown/Iwilei is currently $955. Rents here are currently lower in price than 92.9 percent of Hawaii neighborhoods.

Chinatown/Iwilei real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominiums/apartment complexes, high-rises and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Chinatown/Iwilei neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 to present day.

Home and apartment vacancy rates are 8.4 percent in Chinatown/Iwilei, with a rate lower than 55.2 percent of the neighborhoods in the nation and approximately near the middle range for vacancies.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways.

Chinatown/Iwilei neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.6 percent of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, one of the really unique and interesting things about the look and setting of Chinatown/Iwilei neighborhood is that it is almost entirely dominated by large condominium/apartment buildings, complexes and high-rises, with 81.4 percent of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large condominium/apartment buildings than 97.5 percent of all neighborhoods in America.

Also of note, renter-occupied real estate is dominant in the Chinatown/Iwilei neighborhood. The percentage of rentals here is 89.4 percent, which is higher than 97.0 percent of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

More commuters here take the bus to work at 31.5 percent and that’s more than than 99.1 percent of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Also, the Chinatown/Iwilei walking to work is a real option for many. In fact,walking to and from work is the chosen way to commute for 17.0 percent of residents here. This is a higher proportion of walking commuters than we found in 97.0 percent of American neighborhoods.

There are more people living in the Chinatown/Iwilei neighborhood employed as sales and service workers at 51.8 percent than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Furthermore, with 2.1 percent of employed workers living in the Chinatown/Iwilei neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 97.2 percent of American neighborhoods..

Your future neighbors in Chinatown/Iwilei have low to middle incomes with incomes lower than 81.8 percent of U.S. neighborhoods. In Chinatown/Iwilei 48.2 percent of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 20.6 percent of the residents employed. Other residents here are employed in executive, management, and professional occupations at 15.4 percent and 15.1 percent in clerical, assistant, and tech support occupations.

Chinatown/Iwilei residents most commonly identify their ethnicity or ancestry as Asian at 57.4 percent. There are also a number of people of German ancestry at 5.1 percent and residents who report French roots at 3.1 percent. Some of the residents are also of Irish ancestry at 2.8 percent, along with some Puerto Rican ancestry residents at 2.0 percent, among others. In addition, 43.3 percent of the residents of this neighborhood were born in another country.

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Iwilei neighborhood is English, spoken by 49.3 percent of households. Other important languages spoken here include Chinese, Tagalog (the first language of the Philippine region) and Korean.

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CHINATOWN/IWILEI HOMES FOR SALE LISTINGS

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HOME OWNERSHIP TOOLS

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HOME OWNERSHIP TOOLS

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

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