The Home Buyer's Korner

Information presented should be used for educational purposes only.

June 30th, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Ala Moana Neighborhood

Honolulu, Hawaii

1350AlaMoanaFacade1

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The Ala Moana median real estate price is $454,305 to 694,218, which is more expensive than 64.5 percent of the neighborhoods in Hawaii and 95.5% of the neighborhoods in the U.S. The average rental price in Ala Moana is currently $1309 to $1,868. The average rental cost in Ala Moana is higher than 66.7 percent of the neighborhoods in Hawaii.

Ala Moana is a coastal urban neighborhood located in Honolulu, Hawaii that offers high rise living, shopping, trolley cars to and from Waikiki Beach and all the urban benefits a lifestyle offers. Real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise condominiums and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in Ala Moana are established, but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present and in the height of a second wave of rapid development.

Vacant apartments, condominiums or homes are a major fact of life in Ala Moana. The current real estate vacancy rate here is 26.2 percent. This is higher than the rate of vacancies in 91.8 percent of all U.S. neighborhoods, but the relatively large percentage of housing here is due to seasonal occupancy, which accounts for 20.2 percent of the market. Although the percentage appears high, it’s common for vacation areas like Ala Moana.

Ala Moana has some outstanding things about the way it looks and its way of life that are worth highlighting. First of all, Ala Moana is on the ocean and just a trolley ride way from Waikiki beach with international acclaimed amenities and recreational activities on the waterfront that are attractive to residents and visitors alike.

The real estate in the Ala Moana neighborhood really stands out in the way it looks for a unique reason: the area has a higher proportion of luxury high-rise condominiums and 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 luxury high rise living. In fact, 96.7 percent of the real estate here is classified as high-rise condominiums and apartments, which is more than is found in 99.5 percent of American neighborhoods.

Furthermore, Ala Moana 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 89.6 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.

Ala Moana has more Asian and Canadian ancestry people living in it than nearly any neighborhood in America. In fact, 53.7 percent of this neighborhood’s residents have Asian ancestry and 0.9 percent have Canadian ancestry. Ala Moana is also pretty special linguistically with 15.4 percent of its residents speaking Japanese at home.

In Ala Moana, walking to work is a real option for many. In fact, walking to and from work is the chosen way to commute for 22.3 percent of residents. Get ready to put on your walking shoes if you move here!

Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.9 percent of residents in Ala Moana commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.4 percent of all neighborhoods in the U.S. 

Your future neighbors in Ala Moana have upper-middle incomes, making it an above average income neighborhood and data shows the neighborhood has a higher income than 73.8 percent of the neighborhoods in America.

In Ala Moana, 44.9 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 27.6 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 14.3%, and 13.0 percent in manufacturing and laborer occupations.

Ala Moana most commonly identifies their ethnicity or ancestry as Asian at 53.6 percent There are also a number of people of German ancestry at 3.6 percent and residents who report English roots come in at 3.3 percent, followed by a number of residents who claim French ancestry at 3.2 percent, along with some Italian ancestry residents at 2.5 percent, among others. In addition, 36.2 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 is English, spoken by 60.5 percent of households. Other important languages spoken here include Japanese, Korean, Chinese and French.

Ala Moana Neighborhood

Honolulu, Hawaii 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 a 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

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