The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 27th, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

N Beretania St/Nuuanu Ave Area

Honolulu, Hawaii

N BN Beretania St/Nuuanu Ave area median real estate price is $522,414, which is more expensive than 35.9 percent of the neighborhoods in Hawaii and 91.3 percent of the neighborhoods in the U.S.

The average rental price in N Beretania St/Nuuanu Ave is currently $1,020 and rents here are currently lower in price than 90.4 percent of Hawaii neighborhoods. In N Beretania St/Nuuanu Ave, the current vacancy rate is 2.2 percent, which is a lower rate of vacancies than 91.5 percent of all neighborhoods in the U.S. This means that the housing supply in N Beretania St / Nuuanu Ave is very tight compared to the demand for property here.

N Beretania St/Nuuanu Ave area real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominiums, high-rise and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the N Beretania St/Nuuanu Ave area 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.

One of the really unique and interesting things about the look and setting of the N Beretania St/Nuuanu Ave area is that it is almost entirely dominated by large condominium complexes and high-rise apartments. With 98.1 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 multi-family buildings than 99.8 percent of all neighborhoods in America.

Furthermore, the N Beretania St/Nuuanu Ave area 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 condominium 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.

Also of note, most neighborhoods are composed of a mixture of ages of homes, but the N Beretania St/Nuuanu Ave 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. What you’ll sense when you look around or drive the streets of this neighborhood is that many of the residences of the same architectural design because of this similarity of age. In fact, 89.6 percent of the residential real estate here was built in this one time period.

In the N Beretania St/Nuuanu Ave neighborhood, walking to work is a real option for many. In fact, research reveals walking to and from work is the chosen way to commute for 27.3 percent of residents here. This is a higher proportion of walking commuters than we found in 98.5 percent of American neighborhoods. Get ready to put on your walking shoes if you move here!

Approximately 15.9 percent of the local residents commute to work by bus than 95.2 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.

Furthermore, with 1.6 percent of employed workers living in the N Beretania S/Nuuanu Ave area active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.2 percent of American neighborhoods and a major shaper of the neighborhood’s culture and character.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the N Beretania St/Nuuanu Ave area, 49.8 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 executive, management, and professional occupations, with 24.9 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at 13.0 percent and 12.3 percent in clerical, assistant, and tech support occupations.

The N Beretania St/Nuuanu Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,018 persons per square mile in the neighborhood, it is more packed with people than 98.2 percent of the nation’s neighborhoods.

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout’s exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 48.4 percent. This is a higher percent living alone than we found in 96.2 percent of all U.S. neighborhoods.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the N Beretania St/Nuuanu Ave neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. The area rates more highly for a good place for college students to live than 86 percent of the neighborhoods in Hawaii and has certain amenities and services geared towards college students, from undergraduates to graduate students.

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 ethnicities and ancestries 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 N Beretania St/Nuuanu Ave area, residents most commonly identify their ethnicity or ancestry as Asian at 76.0 percent. There are also a number of people of English ancestry at 1.6 percent and residents who report German roots at 1.2 percent. Some of the residents are also of Scottish ancestry at 1.1 percent, along with some Italian ancestry residents at 1.1 percent, among others. In addition, 58.7 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 N Beretania St/Nuuanu Ave neighborhood is Chinese, spoken by 41.5 percent of households. Other important languages spoken here include English, Korean, Japanese and Vietnamese.

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N Beretania St/Nuuanu Ave 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

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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