When asking for pricing from various contractors and friends, we’ve found the low-average for a single-family home to be around $250 per square foot .
Housing Costs in Hawaii According to NeighborhoodScout, the median home value in Hawaii is $672,429 . In fact, more than 82% of homes here are priced at $357,218 or more.
The price range for a very well appointed home is about $350 a square foot. This would be a home with nice appliances, granite and other high end materials throughout. The current cost for Wailea quality construction is running $600-$700 a square foot.
Wolfe later found land to park that first tiny house for $5,000. Her vacation home in Hawaii cost about $11,000 to build , plus another $4,000 for flights, truck, rent and food, over a period of two months — all of it on land that she purchased for $8,000.
Generally, Hawaii is expensive, but there are some places to live that are more affordable than others. In addition, Kahului is one of the largest communities in Hawaii , and the home values are some of the cheapest in the state.
The most expensive part of the custom home costs is the cost of the finished lot. Based on the average custom home costing $428K to build , the average finished lot cost will be around $92K. This cost may be lumped into what’s known as the sales price, which is the most expensive part of any new home building budget.
Pros to Buying The BAH is much higher in Hawaii , so you have basically more Government money to help you purchase real estate. The rental market is solid in Hawaii as well, so if you want to hold onto your asset to get better appreciation when you need to PCS out, your tenant will be paying down your mortgage.
The price of Combo meal in fast food restaurant ( Big Mac Meal or similar) in Honolulu, Hawaii is $10. This average is based on 9 price points.
Property owners who are building or improving their own home or business site, however, can register as an Owner-Builder with their county building department. This exempts owners from the requirements to be licensed as contractors, yet still allows them to obtain building permits.
Normally, you would allow 3 months for planning if you meet with an architect. Submitting the building permit and waiting for approval can take 2 months. Depending upon the size of the project, it will take another 8 months to a year after you get your permits to build an average sized home.
To build a home in Hawaii it costs about $180-250 a square foot if you go with reputable licensed contractors using safe quality materials. If you build a 2000 sqft house in Oahu, you are going to spend at least $400k on the construction . If your property cost $400k, you are looking at $800k.
It is illegal to sleep in a car in Hawaii . You will be liable for all fees for the rental car if it is impounded. Which would probably exceed the cost of staying in a hostel. A car is not necessary on Oahu.
And in 2017, “low-income” was considered $58,600 . Meanwhile, someone is “very low income” in Honolulu if they bring in $42,200 a year or less. For comparison’s sake, the minimum wage in Hawaii ― $10.10 an hour ― translates to $21,008 a year.
» Storage sheds and playhouses of less than 120 square feet, retaining walls less than 30 inches high, minor sidewalk repairs and such don’t need building permits . When in doubt, consult Revised Ordinances of Honolulu , sec.