How much is the cost of living in Honolulu, Hawaii?

The cost of living in Honolulu, Hawaii varies depending on lifestyle choices and individual circumstances, but it is generally somewhat higher than most other parts of America. This is because of the high cost of housing and other necessities that come with living in a beautiful city with a tropical climate.

Housing Costs in Honolulu

When it comes to housing costs, Honolulu’s prices are notoriously high due to the limited number of housing units, an influx of people looking to purchase or rent, and even the associated cost of utilities. The average monthly rent for a one-bedroom apartment in Honolulu is $1,745. Rent for a two-bedroom apartment will cost, on average, $2,315 per month. Home buyers can expect to pay around $500,000 for a median-priced starter home.

Utility Costs in Honolulu

Basic utilities such as cable, internet, electricity, and water will cost an average of $143 per month in Honolulu. Additionally, Honolulu has one of the highest gas prices in the US. It averages just under $3.50/gallon and can sometimes reach up to $4.00/gallon.

Healthcare Costs in Honolulu

The answer to ‘how much is the cost of living in Honolulu?’ is not complete without taking into account healthcare costs. Healthcare in Honolulu can be quite expensive, and is meant to be covered in budgets for those living in the city or in Hawaii. For example, a trip to an emergency room can cost as much as $1000 or more. A consultation with a general practitioner will usually start at around $300 and increase from there depending on the procedures or specialists required. In addition to these costs, medical insurance is also extremely expensive due to a lack of competition between insurance companies.

Taxes in Honolulu

Like almost all of the US, taxes in Honolulu can be a burden on residents’ budgets. Hawaii has the highest auto excise tax in the US at 4.50% of the car’s purchase price. This means that if you buy a car that costs $20,000, you’ll pay an additional $900 in taxes to Hawaii. Hawaii also has the 11th highest food sales tax rate among U.S. states at 4.0%. The state tax rate is 4.5%. Add this to the median combined local-state sales tax of 4.35%, and you have an effective tax rate of 8.85%.

So when it comes to answering “how much is the cost of living in Honolulu?” we can come to the conclusion that it is quite expensive overall. Housing prices can be inflated due to the limited availability and high demand of the area. Utility costs are substantial due to increasing gas prices and the high expenses associated with energy and services like cable and internet. Healthcare can be expensive with prices ranging from an emergency room visit up to $1000 and a primary doctor’s visit averaging around $300. And lastly, taxes are quite high with auto excise taxes being among the highest in the US as well as food sales tax rates being one of the highest in the US.

When looking overall, it is important to calculate all expenses when answering “how much is the cost of living in Honolulu?” A helpful online calculator can be found on SalaryExpectation.com which will provide an estimate for cost of living for anyone considering a move to Honolulu. This can be very helpful when making plans of relocation or simply understanding the overall costs associated with living in a beautiful city like Honolulu, HI.

How much is the cost of living in Honolulu, Hawaii?

Honolulu, the capital city of Hawaii, is known for its spectacular beaches, breathtaking scenery, and relaxed lifestyle. Along with its natural beauty, it is also one of the most expensive cities to live in. The cost of living in Honolulu is significantly higher than the average U.S. city. However, the costs vary based on factors like accommodation, food, utilities, and transportation. In this blog, we will answer the most frequently asked questions about the cost of living in Honolulu, Hawaii.

What is the cost of accommodation in Honolulu?

The major expense while living in any city is accommodation. In Honolulu, the average cost of rent for a one-bedroom apartment is around $2,200, whereas a two-bedroom apartment would cost you around $3,100. The rental prices vary based on the location, neighborhood, and amenities provided. It is always advisable to take a tour and compare various available options before signing a lease agreement.

What is the cost of food and groceries in Honolulu?

Honolulu is a multicultural city, with a wide variety of food options ranging from Japanese, Chinese, and Korean to Hawaiian and American cuisines. The cost of groceries varies based on the store and location. Dining out in a mid-range restaurant in Honolulu would cost you somewhere around $20 to $30 per person. However, you can find cheaper food options in local food trucks and marketplaces.

How much are utilities in Honolulu?

Utilities are essential expenses, including electricity, water, and gas. The average electricity bill for a 900-square-foot apartment in Honolulu would cost you around $200 per month. Water and trash services cost around $80 per month. The cost of gas depends on your usage and heating systems.

What is the cost of transportation in Honolulu?

Honolulu has an extensive public transportation system, including buses and trolleys that cost around $2.50 for a one-way ticket. However, owning a car is essential if you plan on living in Honolulu for an extended period. The cost of gas is around $3.70 per gallon, and the average car insurance premium is around $200 per month.

How much does healthcare cost in Honolulu?

Honolulu is known for its excellent healthcare services, with top-rated hospitals and medical centers. The cost of healthcare varies based on insurance coverage and treatment plans. A basic visit to a general physician would cost you around $140 to $200, and more complex procedures could range between $2,000 to $5,000.

What is the average salary in Honolulu?

The average salary in Honolulu is around $60,000 per year. However, this varies based on the industry and experience of the individual. The highest paying industries in Honolulu are Finance, Healthcare, and Legal Services.

What are some ways to save money while living in Honolulu?

Living in Honolulu can be expensive, but some effective ways to save money include:

• Sharing accommodation with a roommate or partner
• Using public transportation or carpooling
• Purchasing groceries from farmers’ markets and local stores
• Using reward points and discount coupons while shopping and dining
• Engaging in outdoor activities, like hiking and beach activities, which are free of cost

Conclusion

Honolulu, Hawaii consistently ranks as one of the most expensive cities to live in the United States. However, the cost of living varies based on individual preferences and lifestyle. Understanding the expenses before moving to Honolulu can help in planning and budgeting effectively. We hope this blog provided you with valuable insights into the cost of living in Honolulu.