Thanks for the responses. My son does complete school work - but with less than 100% accuracy (maybe 95% accuracy) because he is very busy socializing - his K class is doing stuff like 5+4=9 while he is doing Singapore Math 2B at home and not even breaking a sweat - he is really bored at school and he is busy thinking up ways to entertain himself and others. At home, he will finish all his work without complaints - but I give him work that is new to him and at a higher grade level.
HowlerKarma, my son is in a public school (a top rated public school, but still a cash strapped california PS where there is no gifted program) and the school district's policy is to differentiate after 1st grade. The teacher does try - by giving him math problems like 15+14 instead of 5+4, which again are boring to him. She is able to give him challenging stuff during the reading groups though because she prints books out for them and is able to print out a higher level book for him which he enjoys.
We are trying to tweak our finances to put him into a private school which challenges him and stimulates him (the cost of such schools in my area is $20K-35K which takes a lot of financial planning for my family) - but, we are trying to "afterschool" in the meantime to keep him adequately challenged. You are right - he does have a need to belong to a group and he has no siblings to play with at home.