Is Retiring to Hawai'i feasible?

[Cartoonemon]

If you really want to save your money, go retiring in Southeast Asia where 1 dollar is worth more. And you can get the same tropical and Asian feels like living in Hawaii.

[aloha_silverlining]

If you are coming from a high cost of living area, it is possible. Each family has to look at their own financial situation plus look at what they are willing to compromise on.

We've leaving LA area on June 9th, arriving in Honolulu, moving into the Makaha Valley Towers. Took 6 months to find this location, I wanted to make sure that we can live Husband's retirement and only take the car that's paid off.

LA Condo = $1800 for 1500 sq. ft. (Trash, Water, HOA included)
LA Electric = $180 to $350 per month
LA Gas = $45 to $85 per month
LA Cable/DSL = $200 per month
LA Car = $600 per month
LA Gasoline = $300 per month (payment car)
LA Insurance = $100 per month (payment car)
Monthly Major Expense = $3,225 to $3,435

HI Condo = $1000 for 700 sq. ft. with Central Air (Electric, Basic Cable, Trash, Water, HOA included)
HI DSL = $35 per month (OverDrive, upto 5 computers/devices)
No Payment Car/Associated Expenses = 0
Monthly Major Expense = $1,035

Yes, we gave up half the sq. ft. to move to Hawaii, but would have to do the same in NY, Chicago, SF.

Savings for our family of two = $2,190 to $2,400 - No way that our equivalent food intake would cost us two grand more. Nor any other things that are important to OUR family.

Yes, we're lucky that we don't have to commute to Honolulu for work. I'll be telecommuting in the fall but that's simply because I've done the 58 miles one way/two hour commute for more years that I want to remember.

You should read the pros and cons in this forum, be prepared to get many nay sayers. However, please remember, each person's/family's financial situation is different. Create your Benjamin Franklin list, take your time looking for a home. There are condos in the Honolulu area that are similar to what we found for $200 more a month (all inclusive) but we chose to live outside of the urban setting of Honolulu/Waikiki.

Good luck to others looking for a lifestyle change and a financial stress reducer if you're from the LA or NY areas.

[Kailasmom]

aloha_silverlining, you are so right-on, I have followed your posts as we live in San Diego and are in a very similar situation. Every family's situation/wants/needs are different, but if things CAN work out - your new living situation sounds awesome - then go for it, enjoy, live life to the fullest! Can't wait to see more of your posts, and I may PM you to pick your brain too, lol!

[henry1]

first off i did look at the diff places in Hawaii'n Island for land and settled on the big island because i could afford a piece of land there without breaking the budget..

now i paid cash for my place and used my bonus money from work to move my stuff there that helped in the long run to cut down on the moveing cost..

i have broken my bills down to a solid $1000.oo a month for everything i will need to live on there on the island and have money to do things there ..

also part of the plan is make one a year payment for some of the things like car insurance & medical & dental insurance & land insurance & taxs for land ..that way i do not worry about those items comeing due each month ..also you get a better deal on those insurance if you make a once a year payment type to them ..

[aloha_silverlining]

Hi Kailasmom! Glad that our information can be of help to you and yours.

We've been busy selling off our personal stuff and liquidating my business equipment. OMG what one accumulates over the years. Ruby - Don We don't drink but might need one by the time we get on the plane.

I know the SD area, so I'm sure that a lot of the CA cost are the same for our families. We were going to move to Vista but the drive into Aliso Viejo even car pooling was too much. LOL

Feel free to DM me with any specific questions you might have, no guarantee that I'll have answers but will do my best.

Maybe we'll be neighbors one day!

[Kailasmom]

Hi Ruby!
I just sent you a PM, thanks! I got a great laugh out of your 'faces' with the stuff sorting - that's us too! Allison Preston "Where did this all come from!"
I keep thinking that once we get to Hawaii, my 'material' possession I accumulated all these years will be the last things on my mind!
Aloha!