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Thank you, everyone. Your information has been quite helpful. Yes, the thought of such staggeringly increased rent in twenty years is harrowing! Perhaps it's more realistic for me to visit Oahu twice a year, for a month each time, and stay in a vacation rental. I really was hoping to move out of Texas, which is relatively inexpensive but definitely not my cup of tea (to put it politely), and I can't afford to return to my home town of Santa Barbara, but it sounds like Hawaii is right up there in price with SB. Once again, thank all of you for your helpful advice, which is much appreciated!
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Hello everyone, I would appreciate some advice about retiring to Oahu. I'm a 53 year-old woman who is retired and has an annual income of USD 60,000. per year. I would like to rent a small, well-maintained house or cottage with a bit of a garden, in a safe, quiet neighborhood, preferably in a hilly area outside the center of Honolulu. I have a new Honda CRV, which I would ship over with my furnishings, and excellent health insurance. My material needs are few, and I eat mostly fresh veggies, fruit, chicken, and seafood. I have no dependents, pets, or expensive habits. Is this possible move on my budget realistic? Are there any such affordable neighborhoods outside Honolulu proper? Any advice would be very welcome!
Despite all the gloom and doom from many posters here, I think you will do just fine and live very comfortably on $60K income based on what you have stated.
Quite a few people here rent well-maintained small cottages that sit adjacent to their homes for $1,500-$2,000/mo and some utilities may be included. As long as you are comfortable with a small home and a tiny yard, you can find something clean in or near the urban core. As a single retired woman with no pets or dependents (and hopefully not a smoker), you are seen as highly desirable to landlords. You will beat out most if not all applicants in situations where you find that really great value on your perfect home. This is a serious consideration that works strongly in your favor.
I would not worry about rents tripling in 20 years. That is highly irrational thinking not to mention has no historical precedent here on Oahu. Further, rents have seen a dramatic run up in recent years so chances are rents will either increase very slowly or remain flat for several years going forward. On a historical note, rents stayed completely flat between 1990 and 2000 - ten years of zero increases in rents and that was the island average. While nobody can predict the future... the odds that rents will stay relatively stable (at least in the near/mid-term) are in your favor.
Find a landlord that has a reputation for not raising rents (to constantly match the market) on long-term respectful tenants; try to stay away from property managers.
Hopefully everyone here hasn't scared you off completely.
Thank you, everyone. Your information has been quite helpful. Yes, the thought of such staggeringly increased rent in twenty years is harrowing! Perhaps it's more realistic for me to visit Oahu twice a year, for a month each time, and stay in a vacation rental. I really was hoping to move out of Texas, which is relatively inexpensive but definitely not my cup of tea (to put it politely), and I can't afford to return to my home town of Santa Barbara, but it sounds like Hawaii is right up there in price with SB. Once again, thank all of you for your helpful advice, which is much appreciated!
I used to live in Oahu. My advice would be go rent a condo for a month whist you decide where you would like to live.
DEPENDING on your budget housing standards and preferred area (they can be quite different) you might find exactly what you want.
Rental Listings - 30 Rentals | Zillow
I used to live about 2/3 up Manoa valley. It was cool and rainy by Oahu standards but a very nice place to live - with a local community and market. Suggest you get some neighborhood recommenations and go look at the houses as well as the surrounding communities.
You need some math lessons - you did say $1,500 correct?
Oh wait, there was one much smaller than a 2 car garage. Sigh.
Be realistic at least.
Rent will definitely be up at least 50% in the next 20 years on Oahu - although op is talking about retirement, so death will probably mitigate that.
You seem really out of touch with Oahu market rates.
Last edited by whtviper1; 02-15-2016 at 08:15 PM..
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