There’s just some information that you need to know when you’re moving to Hawaii. Oh, you’re still coming. Nothing can get in the way of your dream of living paradise, right?
The cost of renting an apartment or house in Hawaii is, in most cases, going to be substantially more expensive than mainland rates. For a quick guide:
Average Cost of Renting in Oahu (2014 figures) per month:
- Studio: $750-$1300
- Two Bedroom Apt/House: $1600 and up
- Modern, New one bedroom condo: $2700 and up.
And here’s the killer: The wages earned in Hawaii are not near what is needed to rent the necessary kind of housing in the state. (Figures based on National Low Income Housing Coalition) So, the cost of living in Hawaii is even more hard to manage.
The average hourly wage for those who are renting in Hawaii is around $14 per hour. That means that if working a 40-hour work week, each household would need around 2.5 people working. So, if you’re moving here as an empty nester and even if you plan on working then you’ll still need to find another half a person to work in order to afford the rent.
Hawaii Income Details by Island
Hawaii (Big Island)
- Average Rent: $1,044
- Mean Avg Hourly Wage: $11
- Income Needed: $21 per hour and $42,000 per year
- Average Rent: $1,900
- Mean Avg Hourly Wage: $15
- Income Needed: $36 per hour and $75,000 per year
- Average Rent: $1750
- Mean Avg Hourly Wage: $13.5
- Income Needed: $33.5 per hour and $68,500 per year
- Average Rent: $1500
- Mean Avg Hourly Wage: $14
- Income Needed: $27 per hour and $54,000 per year
Hawaii State Averages:
- Average Rent: $1750
- Mean Avg Hourly Wage: $15.00
- Income Needed: $34 per hour and $69,000 per year
Buying a House in Hawaii
Purchasing in a home in Hawaii is usually above the means for most people coming to and deciding to living in Hawaii. In fact, many local households will share a home or apartment with another family. Other households will actually sublet rooms in their homes to singles (and especially military members) to help reduce the burden of high rents and mortgages.
Of course, you can read many articles about Waikiki to know that homeless people are rampant in the Hawaiian Islands. Besides the weather being livable in outside conditions the cost of living drive many well intentioned people to the streets.
Unemployment Rates in Hawaii
City of Honolulu (Oahu Island)
Hawaii County (Big Island)
Island of Maui
Island of Molokai
Island of Lanai
State of Hawaii Unemployment Rate:
Cost of Food in Hawaii
The food on the Hawaiian Islands costs more than on the mainland. You have to figure, about 90% of all the food that is sold in Hawaii is imported. That being said, there are ways to save money when grocery shopping in Hawaii. There are all the regular retail and large chain stores that offer cheaper prices such as Walmart, Sam’s Club and Costco.
If you’re retired military then you can take advantage of the certain benefits like shopping at the numerous commissaries, exchanges and gas stations.