The Home Buyer's Korner

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July 22nd, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Ala Moana Blvd/Kalia Rd Ave Area

Honolulu, Hawaii

Ala Moana 1

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For centuries, the land beneath the Royal Hawaiian Hotel, Helumoa, has been an important location for the locals. It was the place where royalty held court, lived and relaxed; the supernatural appeared; and an invading army landed. 

Maʻilikukahi, a former ruler of Oahu, relocated his court from Kukaniloko on the ewa plain to Waikiki beach, and according to legend, six generations later a supernatural rooster, Ka‘auhelemoa, flew from Palolo Valley, landed at Waikiki, and challenged a descendant of Maʻilikukahi named Kakuhihewa by scratching the ground. The place was then named Helumoa, which means “chicken scratch.

Kakuhihewa felt that the appearance of the supernatural rooster was an omen, so he planted a grove of coconut trees, which later multiplied into an estimated 10,000 and King Kamehameha I, the ruler of the Hawaiian Kingdom, established a home named “Kuihelani” in the Helumoa coconut grove.

Kamehameha V also built a residence at Helumoa. After his death, Helumoa was left to Princess Ruth Ke’elikolani, who bequeathed it to Princess Bernice Pauahi Bishop. Through Princess Pauahi’s will, the land became a part of Kamehameha Schools (Bishop Estate), which still owns the land today. 

In the 1890s, the property was leased as a seaside annex to the Royal Hawaiian Hotel located at Richards and Hotel streets. In 1907, the Seaside Hotel opened on the property, and was later acquired by Alexander Young’s Territorial Hotel Company, which operated the Alexander Young hotel in downtown Honolulu.

Ala Moana Blvd/Kalia Rd area median real estate price is $663,899, which is more expensive than nearly 60 percent of the neighborhoods in Hawaii and almost 95 percent of the neighborhoods in the country.

The average rental price in Ala Moana Blvd/Kalia Rd is currently $1,625 and lower in price than almost 46 percent of Hawaii neighborhoods. Vacant condominiums or homes are a major fact of life in Ala Moana Blvd/Kalia Rd area The current real estate vacancy rate here is nearly 79 percent. This is higher than the rate of vacancies in 99.9 percent of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied at over 49 percent and a common occurrence in second home-vacation areas, which Ala Moana Blvid/Kalia area defiantly is. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Ala Moana Blvd/Kalia Rd real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominium developments, apartment complexes, high-rises and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Ala Moana Blvd/Kalia Rd area are older, well-established, built between 1940 and 1969, with a number of residences were also built between 2000 to present day.

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.

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Ala Moana Blvd/Kalia Rd area is an ocean community and offers amenities and recreational activities on the waterfront that are attractive to residents and visitors alike.

Furthermore, the real estate in the Ala Moana Blvd/Kalia Rd neighborhood really stands out in the way it looks for unique reasons. This neighborhood has a higher proportion of condominiums and high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by condominiums and large apartment complexes. In fact, over 95 percent of the real estate here is classified as such.

Also of note, the Ala Moana Blvd/Kalia Rd 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 condominiums from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With nearly 97 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.

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 Ala Moana Blvd/Kalia Rd neighborhood is a fantastic option for bicycle commuters, as nearly 29 percent of commuters here do ride their bikes to and from work on a daily basis. 

Also, in the Ala Moana Blvd/Kalia Rd area, many people’s commutes mean walking from the bedroom to the home office and 17 percent of residents worked from home. Often people who work from home are engaged in the creative or technological economy, while others may be engaged in businesses like trading stocks from home.

Finally, you’ll find more commuters here take the bus to work at over 16 percent. 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.

In addition, one of the most interesting things about the Ala Moana Blvd/Kalia Rd area is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 65.8 percent of the households here made up of people living alone.

Your future neighbors in the Ala Moana Blvd/Kalia Rd area earn middle class incomes and higher income than 56 percent of the neighborhoods in America. In the Ala Moana Blvd/Kalia Rd area, over 57 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with more than 36 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at over six percent.

Each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today. In the Ala Moana Blvd/Kalia Rd area, residents most commonly identify their ethnicity or ancestry as Asian at more than 18 percent. There are also a number of people of Irish ancestry at 15 percent, and residents who report German or Russian roots at nearly seven percent, along with some English ancestry residents at six percent, among others. In addition, nearly 29 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 Ala Moana Blvd/Kalia Rd neighborhood is English, spoken by 76.9 percent of households. Other important languages spoken here include Japanese, Russian and Chinese.

Ala Moana Blvd/Kalia Rd Neighborhood

Ala Moana, Honolulu Homes for Sale

Livingston-Homes-for-Sale

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.

To print this document, click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen, you will have the option

to “Create A Printable PDF of the Presentation”.

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