The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 27th, 2015

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City Center Area Honolulu, Hawaii

HonoluluMedian real estate price in the City Center of Honolulu is $326,265, which is less expensive than 93.4 percent of Hawaii neighborhoods and 22.7 percent of all U.S. neighborhoods.

The housing supply in the Honolulu City Center is very tight compared to the demand for property here. In addition, 95.8 percent of the real estate in the Honolulu City Center neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate, vacant, this indicates an exceptionally strong demand for real estate in the Honolulu City Center neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

Real estate in the City Center of Honolulu, HI is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominium complexes, high-rises and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the City Center neighborhood are established, but not old, having been built between 1970 and 1999, with a number of residences built between 1940 and 1969.

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.

Honolulu City Center is a neighborhood that is on the ocean with amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery.

Furthermore, most neighborhoods are composed of a mixture of ages of homes, but the Honolulu City Center stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing.

Also of note, one of the really unique and interesting things about the look and setting of the Honolulu City Center neighborhood is that it is almost entirely dominated by large condominium complexes or high-rise apartments, with 94.1 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 apartment buildings than 99.1 percent of all neighborhoods in America.

Finally, the Honolulu City Center 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 and is assuredly a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. The Honolulu City Center neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 27.6 percent of its workforce, this neighborhood has a greater concentration of government workers than 99.6 percent of U.S. neighborhoods.

In the Honolulu City Center neighborhood, walking to work is a real option for many. In fact, walking to and from work is the chosen way to commute for 16.3 percent of residents here. This is a higher proportion of walking commuters than we found in 96.8 percent of American neighborhoods. Get ready to put on your walking shoes if you move here!

Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. The Honolulu City Center neighborhood is a fantastic option for bicycle commuters, as 3.8 percent of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.2 percent of the neighborhoods in America.

Finally, more commuters here take the bus to work at 16.3 percent and higher than 95.4 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.

Honolulu City CenterIn the Honolulu City Center neighborhood, 41.4 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 clerical, assistant, and tech support occupations, with 28.4 percent of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions at 27.6 percent, and 26.7 percent in executive, management, and professional occupations.

Culture is the shared learning behavior of peoples. Undeniably, different ethnicity and ancestry have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicity or ancestry will express those cultures

In the City Center neighborhood in Honolulu, HI, residents most commonly identify their ethnicity or ancestry as Asian at 39.2 percent. There are also a number of people of French ancestry at 7.7 percent, and residents who report Portuguese roots at 3.5 percent. Some of the residents are also of Swedish ancestry at 2.2 percent, along with some Puerto Rican ancestry residents at 2.0 percent, among others. In addition, 18.6 percent of the residents of this neighborhood were born in another country.

The most common language spoken in the Honolulu City Center neighborhood is English, spoken by 86.4 percent of households, while some residents speak Japanese at 3.0 percent.

City Center of Honolulu Homes for Sale Listings

Livingston-Homes-for-Sale

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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