In fact, the site estimates that you need an income of $153,520 to afford the average home in Hawaii this year. (For two earners to bring in this income, they’d need to earn $76,760 each per year.) That’s the highest of any state, and compares to $120,120 in California (which took the no.
So , why the high cost? The high cost of living in Hawaii has many reasons, but the short answer is the fact that we’re surrounded by water. Nearly everything we consume has to be shipped here or flown. Hawaii is also a desirable place for the rich to buy property, which continues to drive up housing costs.
Living Wage Calculation for Honolulu County, Hawaii
|1 ADULT||2 ADULTS (BOTH WORKING)|
|0 Children||2 Children|
Honolulu cost of living is 176.5
|COST OF LIVING||Honolulu||USA|
|Median Home Cost||$660,300||$231,200|
The current minimum wage in Hawai’i is $10.10 an hour, or $21,000 per year for full-time work. According to these new calculations, Hawaiʻi’s own state department charged with governing our economic landscape found that a single adult with no keiki needed to earn $16.90 an hour in 2018 in Hawai’i to be self-sufficient.
Moving to Hawaii might be the most expensive move of your life. We’ve mentioned that living in Hawaii is expensive, but it’s worth noting that just getting yourself and your stuff to Hawaii can be expensive, too. You’ll have to get flights for yourself and the people you’re moving with.
Hawaii has one of the lowest poverty rates in the U.S. — until you factor in the cost of living. In fact, by those metrics, the Aloha State has the eighth-lowest poverty rate in the country with 133,000 people, or 9.5% of residents, living in poverty.
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.
At 11% the state’s top marginal income- tax rate is second only to California’s. According to the American Legislative Exchange Council, Hawaii has the nation’s heaviest sales- tax burden as a share of personal income. Hawaii’s high taxes feed its high rate of government spending, at the state and county levels.
According to NeighborhoodScout, the average rent in Hawaii is a whopping $2,413 a month. Those looking to move to Honolulu will find a $2,257 average rent , whereas Kahului residents pay less at $1,784 a month.
A Minimum Wage Budget. According to official government guidelines, single people supporting themselves on minimum wage are not technically living in poverty. However, for single people with no dependents, the government claims the federal minimum wage is more than enough to survive and stay out of poverty.
If you become disabled and live in Hawaii , you may be eligible for Social Security disability benefits, including Social Security Disability Insurance ( SSDI ) and/or Supplemental Security Income (SSI). In addition, Hawaii decides whether you are eligible for Medicaid, based on its own financial eligibility rules.
The 10 Fastest Growing Jobs In Hawaii For 2019 Home Health Aid . Business Analyst. Physical Therapist. Personal Care Assistant. Software Developer. Clinical Psychology Internship. Certified Nursing Assistant. Massage Therapist.
There are only two seasons in Hawaii — Hawaiian tradition named them Kau (summer) and Hoolio (winter) —and it hardly ever drops below 75 degrees here (if it does , the locals start freezing). The summer season stretches from May to October and winter, the cooler, wetter season, lasts from November to April.