Demand high, turnover low in Kaimuki
Young people love the established neighborhood feel
It is known for it's friendly small-town environment, it's 1950's Main Street appearance, old-growth trees and it's
resident's median age - a one of the oldest on Oahu - a whopping 47 years old. So what is it about Kaimuki that is
appealing to yuppies and has caught the attention of young people?
In addition to the varied menu of eateries, proximity to great schools, easy access to the freeway and town, this
long-established neighborhood has a local following that spans several generations, according to Tom Mukai,
Realtor and partner at Prudential Locations LLC.
"Local town people more often will gravitate to Kaimuki because of the neighborhood characteristics and affordable
price points," says Mukai. "In the second halfof 2007, there were 25 sales in Kaimuki. The average days on market
was 32, average sales price was $803,580 with an average of 1,763 square feet of living area or $455.80 per
square foot."
Mukai adds that those 25 homes sold at an average of 98 percent of the list price, likely indicating multiple officers,
he says - a common occurrence in the Kaimuki market.
"People who reside in Kaimuki generally like the weather," he says. "It's perfect. Not rainy or warm like Kapahulu."
With close proximity to Diamond Head, the university, Manoa, Waikiki, Kahala Mall, Kapiolani Community College,
and town, there is never a shortage of things to do, says Mukai.
"Kaimuki is near everything, with easy access to the freeway," he says. "Waialae Avenue, which runs through
thecenter of town, is home to an eclectic mix of shops, restaurants and small businesses. Many residents say that
one of their favorite food establishments - Vietnamese, Chinese, Korean, noodle shop - is in Kaimuki."
In addition to it's thriving commercial district, Kaimuki's residential area is a diverse collection of lovingly cared for
homes.
"It's not uncommon to have a newly built home while your neighbor is in an original home built in the 1920s, 1930s,
1940s or 1950s," he says.
Lots are generally level compared to those of it's hilly neighbors in Manoa and Kapahulu, and typically zoned R-5,
meaning homesites measure a minimum of 5,000 square feet. Because many of the lots are larger - 7,500 square
feet or more - many residents area creating a legal, attached second dwelling on the property and selling it as two
separate homes.
Mukai recommends checking with Condominium Property Regime rules and also with the sewer division as there are
guidelines for installing proper sewer required with these additions.
Currently there are 20 active listings in Kaimuki with an average list price of $983,800.
Turnover in this lively neighborhood is low - the average length of residency 16 years. Rich in history and spirit,
many of the homes stay in the same family for generations.
"It's not uncommon for homeowners to sell or gift their property in Kaimuki to their children or children of relatives
because the demand/desire to live in Kaimuki is so high," says Mukai...
Source: Article Written By: Lisa Scontras, Custom Publishing Group, Article from the Honolulu Advertiser Newspaper, 1/27/08
Young people love the established neighborhood feel
It is known for it's friendly small-town environment, it's 1950's Main Street appearance, old-growth trees and it's
resident's median age - a one of the oldest on Oahu - a whopping 47 years old. So what is it about Kaimuki that is
appealing to yuppies and has caught the attention of young people?
In addition to the varied menu of eateries, proximity to great schools, easy access to the freeway and town, this
long-established neighborhood has a local following that spans several generations, according to Tom Mukai,
Realtor and partner at Prudential Locations LLC.
"Local town people more often will gravitate to Kaimuki because of the neighborhood characteristics and affordable
price points," says Mukai. "In the second halfof 2007, there were 25 sales in Kaimuki. The average days on market
was 32, average sales price was $803,580 with an average of 1,763 square feet of living area or $455.80 per
square foot."
Mukai adds that those 25 homes sold at an average of 98 percent of the list price, likely indicating multiple officers,
he says - a common occurrence in the Kaimuki market.
"People who reside in Kaimuki generally like the weather," he says. "It's perfect. Not rainy or warm like Kapahulu."
With close proximity to Diamond Head, the university, Manoa, Waikiki, Kahala Mall, Kapiolani Community College,
and town, there is never a shortage of things to do, says Mukai.
"Kaimuki is near everything, with easy access to the freeway," he says. "Waialae Avenue, which runs through
thecenter of town, is home to an eclectic mix of shops, restaurants and small businesses. Many residents say that
one of their favorite food establishments - Vietnamese, Chinese, Korean, noodle shop - is in Kaimuki."
In addition to it's thriving commercial district, Kaimuki's residential area is a diverse collection of lovingly cared for
homes.
"It's not uncommon to have a newly built home while your neighbor is in an original home built in the 1920s, 1930s,
1940s or 1950s," he says.
Lots are generally level compared to those of it's hilly neighbors in Manoa and Kapahulu, and typically zoned R-5,
meaning homesites measure a minimum of 5,000 square feet. Because many of the lots are larger - 7,500 square
feet or more - many residents area creating a legal, attached second dwelling on the property and selling it as two
separate homes.
Mukai recommends checking with Condominium Property Regime rules and also with the sewer division as there are
guidelines for installing proper sewer required with these additions.
Currently there are 20 active listings in Kaimuki with an average list price of $983,800.
Turnover in this lively neighborhood is low - the average length of residency 16 years. Rich in history and spirit,
many of the homes stay in the same family for generations.
"It's not uncommon for homeowners to sell or gift their property in Kaimuki to their children or children of relatives
because the demand/desire to live in Kaimuki is so high," says Mukai...
Source: Article Written By: Lisa Scontras, Custom Publishing Group, Article from the Honolulu Advertiser Newspaper, 1/27/08
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Kaimuki Community Profile
Kaimuki
Source: 2006 Claritas Inc., All Rights Reserved
Kaimuki
- Population: 48,102
- Median age: 47
- Single (54%), married (46%)
- Median household income: $63,900
- Average household size: 3 people
- 33% have college degree or higher
- 57% are employed
- 60% are homeowners, 40% rent
- Median year homes built: 1960
Source: 2006 Claritas Inc., All Rights Reserved
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