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Oh yeah, I wish I had known I would never be able to afford trips to the mainland or even the other islands.
There's something I wish I knew right now... How people working crappier jobs than me, like at bars or on whale watching boats, can afford vacations, new cars, surfboards, etc.
Quote:
Originally Posted by winkosmosis
How do you own your home outright when you work for minimum wage? Medical costs... OK, so they had maybe $800 more than me last year? I don't use AC. They still have to maintain their jacked up late model Toyota Tacomas.
But I don't have a magic lamp.
It's called "inheritance."
Some folks inherit very little from their ancestors, while others inherit houses, land, stock, vehicles, cash, have extra income from trusts, etc. In Hawaiʻi, one can't exactly "judge a book by its cover."
How do you own your home outright when you work for minimum wage? Medical costs... OK, so they had maybe $800 more than me last year? I don't use AC. They still have to maintain their jacked up late model Toyota Tacomas.
But I don't have a magic lamp.
Also, some people don't just hop on a plane and move to Hawai'i, bringing tons of debt with them. Instead they work hard, plan, pay off all their debts including a house, and save every penny they can. That way when they get there they can afford to enjoy Hawai'i a little more.
If I only had one of those magic lamps!
Also, some people don't just hop on a plane and move to Hawai'i, bringing tons of debt with them. Instead they work hard, plan, pay off all their debts including a house, and save every penny they can. That way when they get there they can afford to enjoy Hawai'i a little more.
If I only had one of those magic lamps!
For the record, I didn't bring debt with me... I came with $7000 in savings, $5000 in a retirement plan, and a relatively small $11k student loan.
I don't see how someone in their 20s or early 30s can have enough money saved that they can live comfortably with new cars and all, with the typical jobs that exist here. Inheritance is the only thing that makes sense.
winkosmosis, I would guess that the people you are seeing are locals, and they are living with family. But even someone who came 10-15 years ago is going to have half the mortgage cost of your rent. Or the new arrivals live as roommates when single, or if in a couple with their own place, they have 2 incomes. Given the cost of housing, a single living in his own appartment is somewhat of a luxury in Hawaii--maybe that's the thing you wish you'd known.
BTW, most people consider student loans to be debt, and I would never consider a retirement plan to be available money--too many fees and hassle to get it out.
I came with $7000 in savings, $5000 in a retirement plan, and a relatively small $11k student loan.
Exactly! Thanks to your honesty and willing to share, hopefully people that are considering a move to Hawai'i will see that bringing $11K in debt with you and only having $7K in savings is NOT enough unless you have a REALLY good paying job lined up. It is sad that you are in the situation that you are, but thanks to you, hopefully others will learn that you need to do a lot more planning before making their move to Hawai'i.
Reps to you Wink for sharing your story and helping others!
winkosmosis, I would guess that the people you are seeing are locals, and they are living with family. But even someone who came 10-15 years ago is going to have half the mortgage cost of your rent. Or the new arrivals live as roommates when single, or if in a couple with their own place, they have 2 incomes. Given the cost of housing, a single living in his own appartment is somewhat of a luxury in Hawaii--maybe that's the thing you wish you'd known.
BTW, most people consider student loans to be debt, and I would never consider a retirement plan to be available money--too many fees and hassle to get it out.
Hope you're still hanging in there, however.
I mean I had more savings than debt.
It wasn't hard to take money out of my IRA, it just cost extra taxes.
Many places use oil fuels for making electricity and shipping adds to the expense of that use. As examples, in S.C. the kwh cost for the first 600 kwh is @ $0.11 (rounded up) per kwh and in Hawaii (Oahu) last look, was $0. 34 per kwh, or triple. Same conversion cost applies in the US Virgin Islands, almost the same as Hawaii. Most potable water is collected in cisterns and/or direct purchase from water trucks at high cost. WAPA utility (water and power) may also go out during any significant storm(s) and a backup generator is commonplace if you desire power as a backup. Like Hawaii, any islands have higher common costs for consumer items due to shipping and lesser quantities deplete amounts rapidly on specific items. Choices are not always there, so much semi hoarding occurs for routine items that MAY be out of store stocks. Clearly, islands are what they are, separate land areas that are sustained via shipping. If land exists, some local produce may be available and /or livestock. Hawaiian beef for example, may be purchased. Items on islands frequented by tourists are in competition with local residents purchase, due to simply economics, as resorts and hotels etc buy and sell to tourist driven dollars, and raises prices overall. Not a criticism, just fact. Adding shipping costs makes it higher inherently.
just check my SoCal Edison electric bill for the past 12 months, the highest was aug at 300 kwh where we had to use a few weeks of ac. so at .34, that would put me at around $100. does HI use a tier system? my past two months were only at 170 kwh or so. Just trying to imagine what my ele. bill would be , that's all.
Exactly! Thanks to your honesty and willing to share, hopefully people that are considering a move to Hawai'i will see that bringing $11K in debt with you and only having $7K in savings is NOT enough unless you have a REALLY good paying job lined up. It is sad that you are in the situation that you are, but thanks to you, hopefully others will learn that you need to do a lot more planning before making their move to Hawai'i.
Reps to you Wink for sharing your story and helping others!
That would be different for each person or family. But what I think people need to do before they move to Hawai'i or anyplace, is do the research to find out the real costs of living there. Then see if your income after taxes and insurance, will cover those costs. Also, don't forget to include any debt you currently have as well as be able to set some aside for things like retirement and a rainy day fund. I also think that when a person makes such a huge move, that no mater how much research you do, things will pop up that you did not know about. For this reason I think it would be good to figure out how much it would cost for you to go back home or move somewhere else and get established. Have that much saved up and set aside untouched, incase you need it.
These are just my opinions and the way I choose to live my life. Clearly this is not going to be right for everyone. However, if you do not do these things before making such a big move, should you really complain about how things turn out?
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