BUILDING THE DREAM OF HOME OWNERSHIP
Ala Moana, Hawaii 96814
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 an urban lifestyle offers. Real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) 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.
In addition, the real estate in the Ala Moana the 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.
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.
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A SIMPLE HOME SHOPPING INSPECTION TOOL
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