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Hello All:
I will be retired in 2-3 years. I've been used to the warm belt, so HI would be best fit. I'd love to make Honolulu my permanent home, but quite a few questions remain.
My only income is from Social Security, and a small pension. No savings left because of '08 financial dump.
Please help with your advice:
1) Health: Medicare will cover some. Out of pocket is reasonable?
2) Housing: Buy or rent, and average cost for each?
3) Qualified for low income housing? (Been paying tax for 25 years; a proud USA citizen)
4) Natural disasters: Volcano, earthquake, hurricane?
Just a few.
Thanks a million.
Aloha,
I just moved away from HI to DC last month because my of husband's job. We were there 6 yrs and loved it. Advice... let me begin with that Honolulu city itself if much more expensive to live than any other part on Oahu in terms of rent, real estate. You may qualify for low income housing but you would have to wait very, very long as the demand is huge. Native Hawaiians usually have preference for low income housing. I'm not sure how section 8 works but maybe that's would work?
You might want to look at other areas in Oahu like Kapolei, or Ewa Beach. That's where we lived and it's more affordable. Kapolei is being called "second city" many gov offices, schools, businesses etc.. are being moved or built there. All are near beaches, 5 min away. A 1 bdrm condo in Ewa can run from 130k to 200k, & rent starts around $800.
Healthcare insurance is suppose to be one of the best I hear for low income, I think it's called Quest? don't quote me. A sister of a friend had sudden medical issues and had to be hospitalized for several weeks but had to pay nothing even though she didn't have insurance. I'm not sure what your situation might be but I've heard people with low income are taken care of.
As for natural disasters, it's the same as anywhere else. There will be occasional storms, some stronger than others. Since we were there, there was nothing major except for a small earthquake, only 4.0 which was unusual. There were 2 Tunami warnings but were false alarms.
Food and gas is more expensive there, about 10 to 20 % more than the mainland. However you will never need heating just AC 2-3 months of the year June-Aug.
Seems if warm weather is the reason to move, then finding somewhere on the mainland in a warm spot might make your income stretch further.
Oahu doesn't have too many natural disasters, although just the distance from any other large land mass makes for some interesting scenarios. If something happens to California's docks, Hawaii wouldn't need a natural disaster.
You could consider starting with a Relocation Calculator to give you an idea how your retirement income would fare in Honolulu compared to where you live now.
You simply input your estimated retirement income, your current city and the city you want to move to (like Honolulu) and it will show you (on average) how much more (or less) housing, healthcare, groceries, etc will cost in Honolulu vs where you live now.
I have a friend who is planning to move to Texas when she retires because she found out that every $1 of retirement income she would have in her current city would be the equivalent of $1.26 in Texas. So it stretches her retirement budget and allows her to live better on less money.
Anyway, just an idea to get you started. I see a lot of retiree's in Honolulu. Mostly sitting in the mall early in the morning drinking coffee and meeting up with other retired friends.
Hawaii is not the place to retire in if your income is just Social Security and a small pension (however I hope you are being conservative and your pension is actually quite good). It is expensive, but you don't need any winter clothes, and no need to dress up fancy. Homes cost a LOT and monthly condo expenses are super high. That being said though, rents are reasonable. If you are able to live very frugally, it could work out for you, but we have high utility costs, terrible rush hour traffic, and the speed of getting things done is slow - someone said it was like wading through jello.
The weather is hot and muggy during the end of summer months, warm and muggy some other months, and half the time it is just gorgeously beautiful. Our beaches are great, though crowded.
Health costs are high and it helps if you have employee sponsored health plans (which are very expensive but very good). Hawaii is a great place for alternative healing since we have so many Orientals here. (also really great food - all ethnic groups as well as some of the most creative cuisine).
Not sure if you qualify for low income housing - there may be a waiting period. There are a LOT more homeless people living on the sidewalks in certain neighborhoods - a real eyesore and most of them are from the mainland - given a one way ticket to Hawaii, living under tarps and pushing their shopping carts. Pretty tough situation since many of them have mental problems on top of their financial ones. Some areas of Hawaii are a bit rowdy - the low income areas where the rents are cheap but if you are a newcomer, would not recommend for you.
Natural disasters? None for a long time, we do have rainstorms and thunder storms in the winter but they are also quite beautiful. We are in the zone for hurricanes but thankfully they have passed the islands recently. Volcanos are still active, but haven't erupted and caused damage for years - Hawaii, the Big Island is the one most prone to disasters, but it is not the whole island, just parts here and there.
Sorry for such a downer report - it's not really as bad as it sounds. Hawaii is not perfect, but if you can afford it and you can fit in (just don't make the mistake of trying to make Hawaii into the Mainland), you will love it here.
If your budget is tight and you like warm weather, Las Vegas is a great place to live. Housing is cheap to buy, interest rates are low, and lots of entertainment. We call Las Vegas the ninth island, lol. Hawaii people love to go there.
Hope this helps
Last edited by 7th generation; 10-13-2011 at 05:18 PM..
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Hawaii Advice
