The Home Buyer's Korner

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July 29th, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Kamehameha Hwy/Kalaloa St Neighborhood

Hickam Village Area Honolulu, Hawaii

Kala StKamehameha Hwy/Kalaloa St area median real estate price is $645,984, which is more expensive than 57.2 percent of the neighborhoods in Hawaii and 94.5 percent of the neighborhoods in the U.S.

The average rental price in Kamehameha Hwy/Kalaloa St is currently $2,846, and the average rental cost in this neighborhood is higher than 95.5 percent of the neighborhoods in Hawaii. Home and apartment vacancy rates are 10.4% in Kamehameha Hwy/Kalaloa St. and analysis shows that this rate is lower than 44.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Kamehameha Hwy/Kalaloa St real estate is primarily made up of medium sized three or four bedroom to small studio to two bedroom town homes and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Kamehameha Hwy/Kalaloa St neighborhood are newer, built in 2000 or more recently with a number of residences built between 1970 and 1999.

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.

Kamehameha Hwy/Kalaloa St 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.

In addition, renter-occupied real estate is dominant in the Kamehameha Hwy/Kalaloa St neighborhood. The percentage of rental real estate here is 97.8%, which is higher than 98.8 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.

Furthermore, if you love row houses and attached homes, you will probably really like the Kamehameha Hwy/Kalaloa St neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 45.5 percent of the residential real estate here is classified as row houses and attached homes.

Also of note, homes built from 2000 through today make up a higher proportion of the Kamehameha Hwy/Kalaloa St neighborhood’s real estate landscape than 96.9 percent of the neighborhoods in America. When you are driving around this neighborhood, you’ll notice right away that it is one of the newest built of any, with the smell of fresh paint and the look of young landscaping nearly everywhere you look. In fact, 55.6 percent of the residential real estate here is classified as newer.

The Kamehameha Hwy/Kalaloa St neighborhood stands out nationally for having a greater proportion of its residents active in the military than 99.9 percent of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Furthermore, 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 Kamehameha Hwy/Kalaloa St neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.6 percent of its workforce, this neighborhood has a greater concentration of government workers than 97.2 percent of U.S. neighborhoods.

More people in Kamehameha Hwy/Kalaloa St choose to walk to work each day at 27.7 percent than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

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 Kamehameha Hwy/Kalaloa St neighborhood is a fantastic option for bicycle commuters, as 5.2 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 97.7 percent of the neighborhoods in America.

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? This neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Kamehameha Hwy/Kalaloa St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.2 percent of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

In addition, the Kamehameha Hwy/Kalaloa St neighborhood stands out within Hawaii for its college student friendly environment. The neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it’s not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9 percent of college-friendly places to live in Hawaii.

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Kamehameha Hwy/Kalaloa St neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 59.5 percent of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than found in 95.0 percent of U.S. neighborhoods. Less time commuting means more time for other things in life.

The neighbors in the Kamehameha Hwy/Kalaloa St neighborhood in Honolulu enjoy upper-middle incomes and this neighborhood has a higher income than 73.5percent of the neighborhoods in America.

In the Kamehameha Hwy/Kalaloa St neighborhood, 43.5 percent of the working population is employed in the military. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 37.5 percent of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants at 26.9 percent and 18.1 percent in clerical, assistant, and tech support occupations.

HonoluluEach neighborhood has its own culture derived primarily from the ancestry and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicity and ancestry of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Kamehameha Hwy/Kalaloa St neighborhood in Honolulu, HI, residents most commonly identify their ethnicity or ancestry as German (12.4 percent. There are also a number of people of Irish ancestry at 9.9 percent and residents who report English roots at 7.7 percent. Some of the residents are also of Asian ancestry at 6.8 percent, along with some Mexican ancestry residents at 6.3 percent, among others.

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 Kamehameha Hwy / Kalaloa St neighborhood is English, spoken by 83.4 percent of households. Other important languages spoken here include Japanese at 1.3 percent of household followed by Spanish and Tagalog the first language of the Philippine region.

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KAMEHAMEHA HWY/KALALOA ST NEIGHBORHOOD

HICKAM VILLAGE AREA 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

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A SIMPLE HOME SHOPPING INSPECTION TOOL

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

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