BUILDING THE DREAM OF HOME OWNERSHIP
Kaimuki area median real estate price is near $774,000, which is more expensive than three quarters of the neighborhoods in Hawaii and nearly 97 percent of the neighborhoods in the country.
The average rental price in Kaimuki area is currently just under $1,700 a month and lower in price than nearly 70 percent of Hawaii neighborhoods. Most of the residential real estate is occupied by a mixture of owners and renters.
In the Kaimuki area, the current vacancy rate is just over two percent, which is a lower rate of vacancies than over 90 percent of all neighborhoods in American, and this means that the housing supply in Kaimuki is very tight compared to the demand.
Kaimuki real estate is primarily made up of small studios and two bedroom to medium sized three or four bedroom single-family homes, condominiums and high-rises. Many of the residences in the Kaimuki/Chaminade U of Honolulu area homes are established, but not old and built between 1970 and 1999, with a number of residences built between 1940 and 1969.
Kaimuki is the quintessential early twentieth century neighborhood on the Koko Head side of downtown Honolulu. Its name means ‘tī oven’, a reference to the legend of the Menehune cooking tī roots in the area.
Kaimuki is a naturally dusty, dry area that was not heavily populated during pre-contact times because of its lack of water. The only spring known today is on Luakaha Street.
When King Kamehemeha stationed his troops on the beaches of Waikīkī in preparation for the battle of O‘ahu, he stationed lookouts at Kaimukī to spot enemies arriving by sea. Pu‘u o Kaimukī aka “Kaimuki Hill” is the predominant feature of the area and has been a reservoir, a telegraph station, an observatory, and now a park.
When Honolulu became a major point of commerce, “Kaimuki Hill” was used as a semaphore signal station, giving it the name “Telegraph Hill.”
Getting a water supply to Kaimukī was a requirement for building the neighborhood. To do this, the developers used Pu‘u o Kaimukī (“Telegraph Hill”) as a reservoir and on July 18, 1898, an article in The Independent (Honolulu, Territory of Hawaii), announced “A New Suburb”.
The gentle slope of the land prevents any resident from shutting off the scenery from their neighbors and the cool fresh breeze can always be felt and enjoyed in every nook and cranny. Kaimuki main frontage runs along Kapahulu road and on the Waialae road, which is the continuance of Beretania Street. If you’re an advent bicyclist or just enjoy evening walks these roads are ideal for locals to enjoy.
During the development of Kaimuki, the land was subdivided into lots for homes and sold at three cents per square foot. Many of the homes around Kaimuki were built by Lewers and Cooke Company or ordered through a catalogue of “pre-fabricated” buildings shipped from the mainland for as little as $700.
Kaimuki was envisioned as a suburb, where the residents could commute to Honolulu each day for work, but to do this, transportation had to be the early focus for its founding-fathers. First, roads were built by developers to connect the homes with Waialae Avenue. The biggest boost in popularity occurred around the turn of the 20th century, when Waialae Avenue electric streetcars began service to Kapahulu and Koko Head Avenue. As automobiles gained popularity and suburbs towards Koko Head were constructed, Waialae Avenue was solidified as a major thoroughfare that boomed with the business.
In the late 1950s and 1960s, the development of the Ala Moana Shopping Center and Waialae Shopping center added competition and slowed business. The construction of H-1 Freeway diverted commuters from the Waialae thoroughfare, which further hurt Kaimukī businesses, but the community fought to get the exit ramps added and once accomplished business once again began to come back to the area. Ironically, the construction of the freeway, which hurt business, is probably what has saved Kaimukī’s main street of businesses. With the diversion of traffic, there was not the development pressure to demolish and rebuild larger strip malls and lends the area its charm.
Houses in the 1950s and 1960s began to change to the boxy styles, and ‘Ohana zoning & rules requiring attached ‘Ohana dwellings altered the character of the older bungalows if they were spared the wrecking ball. The 1970s and 1980s saw an increase in bungalows replaced by residential boxes and by the end of the 1980s and 1990s, more of the classic Kaimuki homes were replaced by McMansions, while the tear-down and redevelopment continues.
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WHERE HOME OWNERSHIP HAPPENS IN KAIMUKI HONOLULU
Information posted on realtyuniversal.com by Wes McKibbon at The Home Buyer’s Korner are for educational purposes only. Every situation can be different and can be unique to a reader’s particular needs; do not consider anything you read on realtyuniversal.com as absolute or partial advice for your specific needs. Seek the advice of a qualified and suitable professional in your area for advice particular to your situation. The advice given may not produce the same results in your area and the information given here is not intended to cover all aspects of any given topic. Nathalie Mullinix REALTY UNIVERSAL, Inc., cannot be held responsible for the opinions and advice posted from by Wes McKibbon at The Home Buyer’s Korner, nor can we or do we validate the accuracy. The Home Buyer’s Korner is not a real estate brokerage, mortgage lender, general contractor, lawyer, accountant, appraiser, surveyor or any other licensed based professionals, but is an industry leader and a highly respected retired FHA underwriter. If you have a specific question regarding one of those areas, you should seek advice from a licensed member of that particular profession. This page and all other pages posted by Wes McKibbon are intended for educational purposes only including discussion, suggestions, ideas, etc., to better serve interested parties that have chosen independently to engage in active participation
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