How far will $58,000 per year go in/near Manoa

[whtviper1]

Originally Posted by davephan

The taxes sound pretty low

I stated in an earlier post the taxes were low.

If you make $5,000/month in Hawaii - filing married, 3 deductions to account for the kids - you are roughly looking at:

$5,000 gross pay

- $410 fed withholding

- 310 Social Security

- 70 Medicare

- 275 Hawaii State Tax

- 20 Disability

=========

$3,915 Net Pay (about 20% in taxes)

Now deduct Family Medical (Poster said $600, I don't know - I don't have kids - I guess if done pre-tax that helps the tax bite)

Now deduct any Retirement if any

Now deduct anything else (like if you get subsidized parking, etc)

Op wanted a $1,300/month apartment in Manoa - so even if an apartment in that price range could be found for a family - that leaves about $2,000/month after medical to provide for the family (food, utilities, clothes, cell phone, cable, car insurance, basic day to day necessities, emergencies, etc....)

[hotzcatz]

Yup, there's lots of different ways to calculate things. Generally, I'll do a rough calculation just to see if things will work with a basic ballpark type figure. If it looks like it might work with just a cursory glance, then it's worth actually digging out some real numbers.

But, $58K a family of four and Manoa? Doesn't take much detail to see it would be tight. And the OP quickly factored in airfare to visit the family on the mainland, healthcare and such. So, he made a pretty good decision, IMHO, to choose a location with better living conditions for his family.

Maybe while he's getting one of his family vacations back to visit the relatives, they will stop off and visit Hawaii and get one of the the nicest ways to experience Hawaii. This is a great place to be a tourist.

[Kalei]

Originally Posted by hiura

Before this falls into the black hole of the lost internet, I want to say thanks for those who give some information. I could not make the math work after I got a job offer in an Asian country where I can live in Hawaii-like furnished townhomes for free, universal health care, free flights for me and family to and from each year. Hawaii.....maybe some day when I'm finally rich.

Well yes most who move here and want to maintain the type of lifestyle they lived living on the mainland have to be rich. But you don't have to be exactly rich to live in Oahu. If your middle class or poor you just need to have a different value system to enjoy life here. Instead of relying on material things to make you happy or to bring you happiness one has to find joy in letting Hawai'i happen and enjoy culture , nature etc. Instead of the expensive cable package to find entertainment, one could find a hobby paddle boarding, surfing or volunteering. In Hawai'i outside entertainment is always cheaper and eating local is cheaper too. Now I'm not saying compromise one's security and yes everyone needs a minimum level of comfort to be secure. But you will be surprised what will happen when we change our perception on things and how enjoyable life can be not being on the rat wheel

[pj737]

Originally Posted by Kalei

Instead of relying on material things to make you happy or to bring you happiness one has to find joy in letting Hawai'i happen and enjoy culture , nature etc.

Agreed. Material things also can be translated into expectation of the size of ones' home (bigger homes usually require more material things to stuff into them).

If you are OK with a very tiny home, Hawaii is likely the best place on the planet to live. Housing is by far the highest component of our high cost of living. Food and gas is marginally more expensive (when compared to overall income earned). Health care is the same. As is insurance. With the exception of most furniture, most material things cost the same here as in the mainland. Electric bills are sky high here but a small studio unit will not be expensive to cool, light and provide general power for.

It all comes down to your expectation in the size of a home. If you need a big home to live in individually... or if you feel a large home is critical to properly raising your family, then you will need to be considerably wealthy to live on Oahu. But if you are comfortable living in much smaller than average sized home, life can be fulfilling only being compensated with lower to middle class wages.

[SoloPilot]

Originally Posted by pj737

Agreed. Material things also can be translated into expectation of the size of ones' home (bigger homes usually require more material things to stuff into them).

One of the things that I felt added a lot of authenticity to "Hawaii Five-O" (the REAL one, not the "Malihini Vice" remake!) was that they shot a lot in neighborhoods with itty-bitty homes and apartments, and their set dressers showed a lot of bare or cheaply-decorated interiors.

I've seen houses where kids' scribbles were left on the wall by new owners, because it was the alternative to walls that would look like movie screens!