Cost of Living in Honolulu, Hawaii

By
Services for Real Estate Pros with InboundREM

Cost of Living

Cost of living is comprised of various charges that an individual or a family has to pay in order to maintain a good quality of life in a particular area. Several factors affect the total amount one would have to budget for their expenses. Generally, the cost of living is used as a guide to see if moving into an area would be financially right.

Cost of Living in Honolulu, HI

Check out our original blog post at https://kakaakocondoexpert.com/.

Cost of Living Index in Honolulu, Hawaii

The table below is the cost of living index for the various factors affecting your regular budget in the city of Honolulu, Hawaii. The index is a point system with the national average scored at 100 points. Higher scores reflect a higher expected cost for the factor while a score lower than 100 would mean savings for your pocket. As a major tourist destination in an island nation, the cost of living in Honolulu can be quite expensive and should be an essential consideration for families planning to move into the region.

Cost of Living Index Honolulu Hawaii United States
Overall 201.1 186.9 100
Grocery 138.9 147.8 100
Housing 358.4 322 100
Utilities 176.3 185.8 100
Transportation 142.6 135.7 100
Health 92.8 89.8 100


Real Estate Prices

The median home sale price in the city is $661,200 which is a good amount higher than the national average. Monthly rent can also be expensive, averaging at $2,300 for a standard-sized apartment.

A Condo Unit in Honolulu, Hawaii

Check out our original blog post at https://kakaakocondoexpert.com/.

Utility Bills

The average monthly bill of a household in Honolulu is $149.33 for various utilities including electricity, heating, cooling, water, and garbage. Expect to pay 76.3% higher than the national average for your regular monthly bills.

Food and Groceries

Average grocery item prices and other staple food items are the most expensive in the nation. A lot of the products in the city are being imported inflating prices significantly. The cost of dining out is also quite expensive with most meals costing more than the typical price of a meal in the country.

A Woman Buying Groceries at a Supermarket in Honolulu, Hawaii

Transportation Costs

Honolulu offers bus service to most locations throughout the city. These public buses offer one-month pass for $70 and annual pass for $770. Gas prices in town are higher than the national average with a gallon of gas costing to $3.62 as of May 2019.

Taxes in Virginia

Hawaii Property Taxes are quite low, with several municipalities ranking as the lowest in the country. The average property tax rate in the state is only 0.27% of home values. Income tax rates range between 1.4% up to 11% depending on your income bracket. There is no estate tax making the region an ideal place for individuals looking to save on fees.

Infographic Showing the Cost of Living in Honolulu, Hawaii

Check out our original blog post at https://kakaakocondoexpert.com/.

If you would like to receive a FREE Competitive Market Analysis, contact me today.

Let Me Help You Find Your Meridian, ID Home!

If you are a buyer; it is important to have the assistance of a Buyer's Agent to represent you during the transaction. If you need additional assistance or would like to schedule a showing, contact our office at (808) 638-1745

************************************************************************************ 
 
POSTED BY
Equity First Realty
Duc Ong
(808) 638-1745
932 Ward Ave. Suite 420 Honolulu, HI 96814

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Best Practices
Location:
Hawaii Honolulu County Honolulu
Tags:
cost of living
honolulu
hawaii

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
8,437
Diana Ludwiczak
Doctor Sniffs Bed Bug Dogs - Manhattan, NY
K9 bed bug scent detection and inspections in NYC.

Interesting analysis.

Jul 05, 2019 05:46 AM #1
Rainmaker
5,422,471
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for sharing this report.

Have a very special holiday weekend.

Jul 05, 2019 05:57 AM #2
Rainmaker
1,021,348
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Interesting stats. Very pricy place to live and locals avoid tourist traps. I suspect the following is a typo in the blog.

Taxes in Virginia 

 

 

Jul 05, 2019 07:27 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
154,384

inboundREM Market Updates

Ask me a question
*
*
*
*
Spam prevention