How long does it take for Google AdWords and Google Analytics to update? It seems like Google AdWords does not refresh clicks, impressions, CTR Cost ...etc live. Does it refresh once a day or something?

It's supposed to be once an hour, but usually it's every few hours. Channels don't update till the next day.

Google Adwords refresh data every half an hour, include clicks, impressions, CTR Cost, avg CPC, cost, conversions, etc. so all data!
Google analytics refresh data everyday at 00:00 Pacific Time. But you also can visit the data of today by select the date of today, the data include all happened one hour before.