The Home Buyer's Korner

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July 22nd, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Ala Wai Blvd/Kalakaua Ave Neighborhood

Ala Moana Area Homes for Sale

Honolulu, Hawaii

Ala Wai 3

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Ala Wai Blvd/Kalakaua Ave area median real estate price is $524,712, which is more expensive than 36.6 percent of the neighborhoods in Hawaii and 91.4 percent of the neighborhoods in the U.S.

The average rental price in Ala Wai Blvd/Kalakaua Ave area is currently $1,973 and higher than 71.2 percent of the neighborhoods in Hawaii. Vacant apartments or homes are a major fact of life in Ala the Wai Blvd/Kalakaua Ave area. The current real estate vacancy rate here is 18.0 percent and higher than the rate of vacancies in 81.3 percent of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied at 11.8 percent. This can occur in vacation areas like the Ala Wai Blvd/Kalakaua Ave area and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Ala Wai Blvd/Kalakaua Ave real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominium complexes, high-rise apartments and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Ala Wai Blvd/Kalakaua Ave neighborhood are established, but not old, having been built between 1970 and 1999, with a number of residences built between 1940 and 1969.

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels.

What you’ll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 77,629 people per square mile, it is more densely populated than 99.4 percent of America’s neighborhoods. The Ala Wai Blvd/Kalakaua Ave area 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, the real estate in the Ala Wai Blvd/Kalakaua Ave area really stands out in the way it looks for unique reasons. This neighborhood has a higher proportion of condominiums, apartment complexes and high-rises 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 multi-family housing. In fact, 97.2 percent of the real estate here is classified as condominiums, apartment complexes or high-rises, which is more than is found in 99.6 percent of American neighborhoods.

Furthermore, the Ala Wai Blvd/Kalakaua 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 apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.2 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.

The Ala Wai Blvd/Kalakaua Ave area stands out nationally for having a greater proportion of its residents active in the military than 98.8 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.

In the Ala Wai Blvd/Kalakaua Ave neighborhood, walking to work is a real option for many. In fact, walking to and from work is the chosen way to commute for 28.3 percent of residents here. This is a higher proportion of walking commuters than we found in 98.6 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 realistic option. The Ala Wai Blvd/Kalakaua Ave neighborhood is a fantastic option for bicycle commuters, as 5.1 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 97.6 percent of the neighborhoods in America.

With more than 2.4 percent of residents living with a same sex partner, Ala Wai Blvd/Kalakaua Ave is truly a neighborhood that stands out from the rest in this regard. In fact, this neighborhood has a greater concentration of same sex couples than 96.5 percent of U.S. neighborhoods.

In addition, Ala Wai Blvd/Kalakaua Ave is ranked among the top 5.2 percent of neighborhoods for first-time home buyers to consider, in the state of Hawaii. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Ala Wai Blvd/Kalakaua Ave area is not only an accessible option but an investment opportunity for many first-time home buyers. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for active retirees.

Your future neighbors in the Ala Wai Blvd/Kalakaua Ave neighborhood in Honolulu are middle-income earners and the neighborhood has a higher income than 51.5 percent of the neighborhoods in America.

In the Ala Wai Blvd/Kalakaua Ave area, 48.6 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 29.5 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 15.0 percent and 6.9 percent in manufacturing and laborer occupations.

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Ala Wai Blvd/Kalakaua Ave area, residents most commonly identify their ethnicity or ancestry as Asian at 46.0 percent. There are also a number of people of Irish ancestry at  7.9 percent and residents who report German roots at 6.2 percent. Some of the residents are also of Italian ancestry at 3.3 percent, along with some English ancestry residents at 2.9 percent, among others. In addition, 42.9 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 Wai Blvd/Kalakaua Ave neighborhood is English, spoken by 50.1 percent of households. Other important languages spoken here include Japanese with household speaking the language at 25.3 percent, followed by Chinese, Korean and German.

Ala Wai Blvd/Kalakaua Ave Neighborhood

Ala Moana Area 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

to “Create A Printable PDF of the Presentation”.

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