The Home Buyer's Korner

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July 25th, 2015

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BUILDING THE DREAM OF HOME OWNERSHIP

Punahou St/Clark St Neighborhood

Manoa, Honolulu, HI Homes for Sale

Punahou 2

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Punahou St/Clark St area median real estate price is $537,918, which is more expensive than 39.8 percent of the neighborhoods in Hawaii and 91.8 percent of the neighborhoods in the U.S.

The average rental price in Punahou St/Clark St is currently $2,124and higher than 78.2 percent of the neighborhoods in Hawaii. Vacant apartments or homes are a major fact of life in Punahou St/Clark St. The current real estate vacancy rate here is 19.8 percent and higher than the rate of vacancies in 84.5 percent of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round due largely in part to the areas high second/vacation home occupancy.

Punahou St/Clark St real estate is primarily made up of small studio to two bedroom to medium sized three or four bedroom condominium 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 Punahou St/Clark St neighborhood are older, well-established, built between 1940 and 1969, with 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. This particular neighborhood in Honolulu, the Punahou St/Clark St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

One of the most interesting things about the Punahou St/Clark St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 60.5 percent of the households here are made up of people living alone, this is a larger proportion of people living alone than in 99.2 percent of the neighborhoods in America.

If you’re nearing retirement age, or in retirement, the Punahou St/Clark St neighborhood is an excellent choice for you to consider for top-quality retirement living among the top 5.8 percent of retiree-friendly neighborhoods in Hawaii, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it’s because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Hawaii.

In the Punahou St/Clark St neighborhood, walking to work is a real option for many. In fact, walking to and from work is the chosen way to commute for 13.1 percent of residents here. This is a higher proportion of walking commuters than we found in 95.6 percent of American neighborhoods. Get ready to put on your walking shoes if you move here!

In addition, the Punahou St/Clark St 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 single family 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 95.2 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.

Furthermore, the real estate in the Punahou St/Clark St area really stands out in the way it looks for unique reasons. This neighborhood has a higher proportion of condominium complexes or 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 big multi-family buildings and complexes. In fact, 94.3 percent of the real estate here is classified as multi-family, which is more than is found in 99.1 percent of American neighborhoods.

Your future neighbors in the Punahou St/Clark St area enjoy upper-middle class incomes, and has a higher income than 73.8 percent of the neighborhoods in America..

In the Punahou St/Clark St neighborhood, 50.0 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 25.2 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at 15.8 percent and 9.9 percent in government jobs, whether they are in local, state, or federal positions.

Culture is the shared and learned behavior of peoples. Undeniably, different ethnicity and ancestry have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicity or ancestry will express those cultures.

In the Punahou St/Clark St area, residents most commonly identify their ethnicity or ancestry as Asian at 50.3 percent. There are also a number of people of English ancestry at 6.5 percent and residents who report Italian roots at 3.5 percent. Some of the residents are also of Irish ancestry at 3.0 percent, along with some Portuguese ancestry residents at 2.9 percent, among others. In addition, 16.9 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 Punahou St/Clark St neighborhood is English, spoken by 67.8 percent of households. Other important languages spoken here include Japanese at 20.6 percent speaking the language, followed by Chinese.

Punahou St/Clark St Neighborhood

Manoa 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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