Cost Of Living In Hawaii is at least $122,000 per month is required to live comfortably. People’s expectations for their standard of living differ from one another, and it all depends on their level of “comfort.”
Cost Of Living In Hawaii
It is estimated that the average salary in Honolulu is $66,000, but Hawaii has one of the nation’s highest tax rates, with the top tier clocking in at 11 percent. According to THE BUREAU OF LABOR STATISTICS, average U.S. wages, as of the third quarter of 2020, are $51,688 ($994 weekly).
The average salary in Hawaii ranges from $33,965 per year for a Customer Service Representative to $96,620 per year for a Travel Nurse in January 2021.
According to the National Renewable Energy Laboratory, Hawaii receives 8 percent more sunlight than the rest of the United States. According to Hawaii’s stated goal, renewable energy sources are expected to provide 100% of the island’s electricity by 2045.
Expenditures
The cost of renting in Hawaii is significantly higher than on the mainland, but this can vary greatly based on various factors. According to the MLS, buying a single-family home in December 2020 will set a new record price of $870,000.
Budget for a family of 4
| Items | Cost |
|---|---|
| Mortgage | $2,900 per month |
| Groceries | $800 to $1,000 per month |
| Electricity | $190 per month |
| Transportation | $380 per month |
| Dining out | $500 per month |
| Property Taxes | $2,350 per year |
There is a $455 000 median price for a condo in Oahu. Despite the high prices, Oahu’s real estate market continues to grow. You could also buy land and build your own house, but that depends on where you live and the quality of your general contractor.
Summary
Hawaii has an 8 percent higher rate than the rest of the United States, making it an ideal location for cost-effective solar power. Oahu studios can cost anywhere from $1000 to over $1,600 per month, and that doesn’t include utility costs of around $150 for one person.
The Mode Of Transportation
If you do decide to live somewhere other than Honolulu’s downtown or the busiest parts of the city, you’ll have to factor in the expense of owning and operating a vehicle. In Honolulu, gas costs $3.16 per gallon as of January 2021.
With a ticket price of $2.75 in Oahu, the bus or TheBus may be a more cost-effective mode of transportation, but it may not be the most appealing option for a daily commute. If you work in downtown Honolulu or Waikiki and your company doesn’t provide a parking spot, you’ll likely need to rent one yourself.
Parking costs $100 to $200 on average. If you live in a condo, you may also need to rent a parking space at a similar cost, depending on your association’s rules.
Groceries And Restaurants
Locally sourced food and drink, as well. However, due to the high cost of importing food from the mainland, Hawaii is the most expensive state to shop for groceries. According to a Missouri Financial Data and Knowledge Center report, quarter 3 of 2020 found that Hawaiian groceries are expensive.
Hawaiians came in at 196.3 on a 100-point national index; the other states in the top three were California (138.5 points), Washington (111.3%), and Oregon (134.6 points).
For example, a gallon of whole milk on Oahu can cost $8.99, while Costco’s lowest price is $5.50 per gallon. It’s $3.79 for 1lb of broccoli and $3.49 for 1lb of bulk carrots. The cost of Hawaii-grown mangos is $6.99 per pound, which is a little high for a local product. About $6 will buy you four rolls of toilet paper.
Hawaii Condos
Some of the most expensive Apartments in Hawaii, but how much you’ll pay depends on where you live and which side of the island you’re on. Because of their proximity to the business district and most of the jobs in Honolulu, Honolulu Apartments are the state’s most expensive.
Purchasing A Home
In 2019, the median price of a single-family home in Hawaii was around $835,000, while the median price of a Honolulu condo was $400,000, as shown in the graph above. Residential developers have been flocking to Oahu to take advantage of the island’s housing shortage despite the lack of affordability. Developers have been building New Honolulu Condos in Kakaako and Ala Moana for 6-7 years.
The West Oahu neighborhoods of Hoopili and Koa Ridge, where nearly 15,000 new homes will be built in Oahu over the next 15 years, are also occupied by developers. Rumors of a development called Makaiwa Hills in Makakilo could add another few hundred residents.
Summary
The Massachusetts Institute of Technology’s (MIT) Living Wage Calculator says that a single adult in Honolulu needs to earn $16.59 per hour to support themselves. Each adult must earn $17.70 per hour for a couple with two children.
Tips For A Cheap Hawaii Vacation
1 - Rent A Home Or Condo
If you’re looking to save money while vacationing in Hawaii, renting a home or condo through FlipKey or HomeAway can be a good option. Renting a home has the added benefit of not enforcing daily parking or resort fees—the mother of a family of five.
Global Munchkins blogger Amber Myers Mamian says she prefers short-term rentals but that hotels like Disney’s Aulani offer villa-style accommodations that include a full kitchen and laundry facilities.
2 - Rent A Car Wisely
If you’re staying in a walkable city, like Waikiki or Honolulu, you may not need a rental car to get around the islands. With Discount Hawaii Rental Car, Solo Mom Takes Flight’s Sarah Pittard thinks she can get the best rates.
Additionally, AutoSlash provides a way to save money by searching for the best rates and applying coupons they discover. After making your reservation, they’ll automatically rebook your rental car at the new lower rate if they find better rates.
3 - Visit Cheaper Islands
A mother-of-one and blogger at No Back Home recommends the Big Island of Hawaii, despite the higher cost of groceries, gas, and take-out meals on other islands. On the Big Island, you’ll find a wide variety of budget hotels and condos that can significantly reduce the cost of a Hawaiian vacation.
4 - Make Plans With A Local Concierge.
Vendors and tour operators are eager to set up a hiking or snorkeling trip for tourists all over the Hawaiian Islands, but not all are equal. Zucker recommends a private island tour with an on-site concierge when renting kayaks for the week or arranging.
5 - Plan Your Airfare Wisely
A reasonable fare may be easier to come by now that Southwest Airlines has announced flying to Hawaii in the new year. The best way to get low foods is still to be flexible with your travel dates, set up flight alerts, and be aware of additional fees, but now you may want to familiarise yourself with Southwest’s rewards program as well.
Summary
Activities like hiking in national parks, splashing on beautiful beaches, and savoring a beautiful sunset are all accessible in Hawaii. The USS Arizona Memorial in Pearl Harbor on Oahu and gallery-hopping every Friday night in Hanapepe Town on Kauai are two examples of free and low-cost activities on each island.
Hawaii’s Most Affordable Attractions
Many people consider Hawaii to be their ideal home. No matter how many times you’ve visited, you can’t help but fall in love with the 50th state. And, of course, its proximity to the Pacific Ocean is a significant factor in its appeal.
In Hawaii, several beautiful beach cities are among the state’s most affordable places to live. And a local real estate agent can point you in the right direction.
Oahu
Oahu is an excellent introduction to Hawaii because it is the most accessible and small expensive island. Not all tourist attractions are worth your time, just because they are popular. It has world-class waves, a charming old town, and breathtaking waterfall hikes.
Maui
As a result of its stunning beaches and tropical rainforests, Maui is a true haven for vacationers. When it comes to the cost of flying from the mainland, Honolulu is usually a close second to Oahu.
The Big Island
This is a place for adventure. A little extra money spent on a plane ticket to get here is well worth it for the lava hikes and the fascinating history and culture. For volcanoes, rainforests, and old Hawaii, take a flight to Hilo. If you want white sand beaches, fly to Kona. A great idea while you’re here is to see both sides of the island.
Frequently Asked Questions - FAQs
Following are the most frequent questions about Hawaii:
Is it possible to afford to live in Hawaii on a budget of $2000 a month?
Yes, it is possible a one-bedroom apartment or home can be found from $1,500 to more than $2000 per month, while a two-bedroom apartment or house will cost you at least $1,800 per month.
Is it challenging to find work in Hawaii?
It’s possible to find a job in Hawaii in a matter of minutes, or it can be as time-consuming and exhausting as pounding the pavement day after day. Your hard-earned savings aren’t fun to spend on living expenses, so you must do everything in your power to get a job quickly.
Is it expensive to live in Hawaii?
The Cost of Housing in Hawaii. The cost of renting a home in Hawaii is significantly higher than renting a home in the mainland United States. A family of four needs to earn at least $5,932 per month or $71,184 per year to afford this rent.
How do Hawaiians afford to live?
The cost of living can be reduced if you have family and friends in the area. For instance, there are numerous multi-family units on the island in which families share a home with in-laws or grandparents. Affording the high cost of living is easier for small families.
Can you live on $50,000 in Hawaii?
You can live in Hawaii on less than $50,000 in personal income, but unless you’re prepared to live very frugally, I wouldn’t recommend it. Some people can afford to do so on a salary of just $30,000.
Is it challenging to make a living in Hawaii?
If you don’t proceed with caution and realistic expectations, you may find yourself among the hundreds of people who return to the mainland each year. The economy of Hawaii makes it difficult for most people to live there, but it’s a beautiful place to visit.
Why are tourists flocking to Hawaii?
This tropical city has about a million people. It is regarded as one of the safest in the United States due to its clear waters, warm climate, city amenities, and high standard of living. In general, Hawaii is safe, but car theft and unattended items are standard.
What’s the cost of living like in Hawaii?
The $459,100 median home price and the $941 median monthly rent are well below the state average. Even though Hawaii is the most expensive state, that doesn’t mean that it’s a cheap place to live. It does, however, have a wide range of affordable city options.
Why is Hawaii’s food so expensive?
As a traveler, you should know that food in Hawaii does not come cheap; there is a reason why so many dishes and foods come with hefty price tags. Because so much of the state’s food is imported from the mainland, it comes with a higher price tag.
Why do Hawaiians have such a bad attitude?
Non-natives to the Hawaiian Islands may have unrealistic expectations of the people there. Therefore, locals may appear rude because they don’t meet commercial expectations of living in Hawaii.
Conclusion
A one-bedroom apartment or home can be found from $1,500 to more than $2000 per month, while a two-bedroom apartment or house will cost you at least $1,800 per month.
Rental prices on the Big Island of Hawaii are significantly lower than those in Honolulu, which can be attributed to many businesses, jobs, and proximity to each other. Hawaii Island is less crowded and has fewer people and employment, so rental, and home prices are lower.