The Home Buyer's Korner

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July 21st, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Kalakaua Ave/Kapahulu Ave Neighborhood

Waikiki, Honolulu, HI  Homes for Sale

Kalakaua-Avenue

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Kalakaua Ave/Kapahulu Ave area median real estate price is $401,028, which is less expensive than 82.8 percent of Hawaii neighborhoods and 15.6 percent of all U.S. neighborhoods.

The average rental price in Kalakaua Ave/Kapahulu Ave area is currently $1,432 and lower in price than 62.2 percent of Hawaii neighborhoods. Vacant apartments or homes are a major fact of life in Kalakaua Ave/Kapahulu Ave area. The current real estate vacancy rate here is 40.0 percent. This is higher than the rate of vacancies in 97.3 percent of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round and due largely to occupancy of many residences being second and vacation homes. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Kalakaua Ave/Kapahulu Ave real estate is primarily made up of small studio to two bedroom condominium complexes and high-rises. Most of the residential real estate is renter occupied. Many of the residences in the Kalakaua Ave/Kapahulu Ave neighborhood are older, well-established, built between 1940 and 1969 and a number of residences were also built between 1970 and 1999.

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. The Kalakaua Ave/Kapahulu Ave area has some outstanding things about the way it looks and its way of life that are worth highlighting.

More people in Kalakaua Ave/Kapahulu Ave area choose to walk to work each day at 36.9 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, more people ride the bus in this neighborhood each day to get to work than 98.6 percent of U.S. neighborhoods. American households most often have a car and regularly they have two or three. But households in the Kalakaua Ave/Kapahulu Ave neighborhood buck this trend, with 44.4 percent of the households not owning a car at all. This is more carless households than found in 98.2 percent of U.S. neighborhoods.

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. This neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 58.7 percent. This is a higher percent living alone than we found in 99.0 percent of all U.S. neighborhoods.

In addition, an extraordinary 13.0 percent of the residents of the Kalakaua Ave/Kapahulu Ave neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Many home buyers coming into the area are affiliated with the University of Hawaii and have children going to one of the private schools and if you have a college bound child check out our blog post on Kiddie Condos and see if it’s something that’s right for you.

If you like crowded places, then you will probably enjoy the Kalakaua Ave/Kapahulu Ave area. This neighborhood is more densely populated than 96.5 percent of neighborhoods in the U.S., with 26,351 people per square mile living here.

In addition, the Kalakaua Ave/Kapahulu Ave 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, condominiums or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% 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.

Furthermore, one of the really unique and interesting things about the look and setting of the Kalakaua Ave/Kapahulu Ave area is that it is almost entirely dominated by large condominium complexes and high rises with 98.5 percent of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of condominiums than 99.8 percent of all neighborhoods in America.

In the Kalakaua Ave/Kapahulu Ave area, 50.4 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 39.0 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 5.9 percent and 5.6 percent in government jobs, whether they are in local, state, or federal positions.

Culture is the shared learning behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or other ethnicity or ancestries will express those cultures In the Kalakaua Ave/Kapahulu Ave area, residents most commonly identify their ethnicity or ancestry as Asian at 36.4 percent. There are also a number of people of German ancestry at 5.6 percent and residents who report Irish roots at 3.8 percent and some of the residents are also of English ancestry at 3.4 percent, along with some Spanish ancestry residents at 3.0 percent, among others. In addition, 26.7 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 Kalakaua Ave/Kapahulu Ave area is English, spoken by 62.0 percent of households. Other important languages spoken here include Japanese comes in at 12.4 percent, followed by Chinese, German and Spanish.

Kalakaua Ave/Kapahulu Neighborhood Waikiki 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 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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