It probably comes as no surprise that living on the Hawaiian Islands is more expensive than many, if not most, other states in The Union. Depending on the study you are referring to, living in Hawaii can cost anywhere from 30 percent to 60 percent more than living on the mainland. Do you know why this is the case?
One of the reasons Hawaii is so much more expensive is the price residents pay for many items when they go to the grocery store. The price that shoppers pay for food items that must be shipped to the state can be as much as double the price residents in other states pay. In general, the farther an item has to travel from the time it is packaged or made ready for sale until it is in the consumers hands the greater the additional charge for the item.
However food is neither the only nor the primary reason living in this island paradise is more costly. If you were fortunate enough to find a free place to lay your head, you would find that the other costs of staying in Hawaii were not so bad. However, most people do not have free housing and that is why living in the state can be so expensive.
Here is a scary figure. According to a 2006 Geographic Reference Report, a family of four individuals living in Hawaii’s capital city of Honolulu needs to earn 55 percent more than a comparable family living in one of the other 49 states.
What you ultimately pay for an apartment in Hawaii will depend on which island you decide to live on and on how much living space you need. Of course there are exceptions to the rule, but you can expect to pay more to stay on Oahu, on which the state capital Honolulu and the popular tourist destination of Waikiki are located. Exactly how much you will pay we can’t say, but don’t be surprised to be asked to shell out around 1000 dollars for a small studio apartment on the island. As you would expect, renting a house would cost more, but in terms of dollars per square foot a house will be less expensive.
For individuals and families seeking to purchase houses now is a time when deals can be found. The recent changes in the housing market have created a bit of a buyer’s market even in Hawaii. Still, you can expect to pay a healthy price whether renting or purchasing in the 50th state.