3 Cheapest Places Left To Live in Hawaii

With its idyllic landscapes, beautiful beaches, and tropical climate, Hawaii is a dream destination for many, but living in paradise comes at a cost. The state is comprised of eight major islands, and several factors drive up the cost of living. Everything from food, clothes, and gas is imported from the mainland, meaning consumers pay more for basic necessities. Also, due to the limited real estate options and lack of space to build new housing, it’s a fiercely competitive market. In addition, the high level of tourism increases restaurant and bar prices.

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“The cost of living in Hawaii averages 46% higher than the rest of the U.S. A typical home costs $830,193, more than double the average U.S. home value of $346,653,” per SoFi. That said, there are still a few affordable places to settle down in the Hawaiian islands where you can live comfortably for under $95,000 a year.

Hilo, Hawaii

Located on the eastern side of Hawaii’s Big Island, Hilo is known for its lush rainforests, the serene Wailuku River State Park, and the awe-inspiring Hawaii Volcanoes National Park. It’s also home to Hilo International Airport, making travel convenient. Hilo is also a haven for retirees, offering a peaceful and laid-back lifestyle amidst nature’s beauty. According to the United States Census Bureau, 22.5% of the population is 65+, and the cost of living is as follows:

  • Median Household Income: $75,589
  • Median value of owner-occupied housing units: $417,600
  • Median Rent Price: $1,228

Waianae, Oahu

Far removed from Honolulu’s commercialization and bustling tourism, Waianae is a hidden gem on the coast of Oahu. The small town offers pristine beaches, scenic mountain views, cultural events and festivities, and plenty of opportunities for wildlife enthusiasts to spot humpback whales, turtles, and dolphins. According to the Census Bureau, over 13% of the population is 65+, and the cost of living is as follows:

  • Median Household Income: $77,435
  • Median value of owner-occupied housing units: $476, 600
  • Median Rent Price: $1,304

Kahului, Maui

Kahului, Maui, might be a great choice if you’re looking for a beautiful, peaceful place to live with the conveniences of an airport and shopping centers. Like the other Hawaiian islands, it’s rich in natural landscapes and diverse outdoor activities, such as the scenic Road to Hana Drive, Iao Valley State Park, Waihee Ridge Trail, the Maui Arts & Cultural Center, and more. Nearly 20% is people 65+ and per the Census Bureau, the cost of living is as follows:

  • Median Household Income: $94,712
  • Median value of owner-occupied housing units: $765,300
  • Median Rent Price: $1,469

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This article originally appeared on GOBankingRates.com: 3 Cheapest Places Left To Live in Hawaii

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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