That being said, it’s no secret why Honolulu is often ranked in the Top 3 Most Expensive Cities in the U.S. According to a study by the Missouri Economic Research and Information Center in 2019, Hawaii has the highest cost of living in the nation with an index of 191.8.
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.
Living Wage Calculation for Honolulu County, Hawaii
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Although the islands have the 10th highest median wage in the United States, average living expenses are astronomical, up to two-thirds higher than the rest of the country. Hawaii’s high cost of living is driven by the need to import everything to the island either by sea or plane. Another big driver is housing costs.
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.
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.
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.
In order to live comfortably in Hawaii, studies show that you’ll need a whopping salary of over $122,000 .
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.
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.
Honolulu, HI Rent Trends
|Average Rent||Mar / 2018||Nov / 2019|
Since Hawaii is located in the middle of a vast ocean and the ocean bottom drops off quickly, the waves and currents can be very big and powerful. Certain beaches are hazardous year-round while others are dangerous at certain times of the year. Don’t swim at remote beaches alone.
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.
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.