We have determined K-band luminosity functions for 13,325 local Universe galaxies as a function of morphology and color ( for K _ { tot } \leq 10.75 ) . Our sample is drawn from the 2MASS Extended Source Catalog , with all sample galaxies having measured morphologies and distances ( including 4,219 archival redshift- independent distances ) . The luminosity function for our total sample is in good agreement with previous works , but is relatively smooth at faint magnitudes ( due to bulk flow distance corrections ) . We investigated the differences due to morphological and color-selection using 5,417 sample galaxies with NASA Sloan Atlas optical colors and find that red spirals comprise 20 to 50 % of all spirals with -25 \leq M _ { K } < -20 . Fainter than M _ { K } = -24 , red spirals are as common as early-types , explaining the different faint end slopes ( \alpha = -0.87 and -1.00 for red and early-types , respectively ) . While we find red spirals comprise more than 50 % of all M _ { K } < -25 spiral galaxies , they do not dominate the bright end of the overall red galaxy luminosity function , which is dominated by early-type galaxies . The brightest red spirals have ongoing star formation and those without are frequently misclassified as early-types . The faintest ones have an appearance and Sersic indices consistent with faded disks , rather than true bulge dominated galaxies .