Hawaii Cost Of Living
Living in Hawaii seems like a dream for so many people. Over 1.4 million people are living that dream. Let’s go through some of the costs of living in Hawaii.
Average Cost Of Living In Hawaii
1. Gas Prices In Hawaii
Gas prices in Hawaii aren’t as bad as some may think. While it isn’t necessarily cheap that doesn’t mean the islands always cost more than some areas of the mainland. Gas prices at the time of writing this (3/26/2021) are over $3.10 per gallon.
Calculating what that equates to in your cost of living in Hawaii is the key point. If you purchase at $3.10/gallon and have a 16 gallon tank in your car, that’s approximately $49.00 to fill up. If you fill up once a week you’re now spending approximately $198 per month on gas. An expense you may not have considered before moving to Hawaii.
Always consider that gas prices are constantly fluctuating daily. If you would like to see what current gas prices are on Oahu please check out (https://www.gasbuddy.com/gasprices/hawaii/honolulu) who is always on top of where the best gas prices are in Hawaii.
Another way this can be spun is 1 gallon of gas costs less than a gallon of milk! But no matter how you spin it, unless you do not have a vehicle or have an electric vehicle, buying gas on a regular basis plays a role in the overall cost of living in Hawaii.
2. Are Groceries Expensive In Hawaii?
Leading us right into our next topic of consumer goods and/or groceries. A gallon of milk is expected to be over $5.00. It does depend on where you shop and don’t be alarmed if you come across $9 for a gallon of milk in Hawaii.
Your groceries most certainly play a factor in your cost of living in Hawaii. Some of it depends on where you decide to shop. Local grocery stores in Hawaii include Foodland, Safeway, Times, and local farmers markets. Big box stores include Costco, Sams, Whole Foods, Target, and Wal-Mart.
You have to think about it like this. A good majority of products are shipped to the islands. In an article by (http://www.takepart.com/article/2015/06/29/hawaii-local-food) it is reported that Hawaii imports 90% of what it eats. And it isn’t cheap to ship goods to Hawaii. Therefore costs are driven up so businesses can make a profit and survive.
4. Cost Of Rent In Hawaii
As a local real estate agent in Hawaii I am always paying attention to what is happening in our market. According to https://hicentral.com/ the average rent in Hawaii as of writing this article (3/26/2021) is $2,000/month. This does depend on the size and location of course. It is not far fetched for the typical home $2,000 can get you is a 2 bedroom / 1 bathroom condo or townhome under 800 square feet. To avoid these costs locals typically live in multi-generational homes with their families for a long time.
5. Cost Of Homes In Hawaii
Again, your local real estate agent is on top of the market and can tell you straight from the local MLS data that the new median price for a single family home on Oahu is now over $900,000. The median price for a condo/townhome is over $462,000. As with rent, size and location of where on the island plays a big role in the price of the home.
Other factors that may impact price are homeowners association fees, taxes, and utilities. Homeowners association (HOA) fees depend on the community and/or building. Typical expectation of HOA and maintenance fees in townhome communities are approximately $400 per month but can vary. Condos in Waikiki can have upwards of $900 per month in fees. Single family homes may see lower fees depending on the community.
Moving To Hawaii?
These costs are some of the most typical costs of persons living in Hawaii. Cost of living in Hawaii can vary depending on your individual lifestyle, needs, and priorities. From single working class to families, we’re here to help.
If you’re thinking about moving to Hawaii you can reach out by shooting our team a text, giving us a call, or sending an email. However you want to get ahold of us. We got your back when moving to Hawaii!
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