Cost of Living, Higher Prices in Hawaii

[Ian_Lee]

During the first lockdown in March, the tuna price had gone down a lot because many fishermen came back unprepared that they could not sell them to hotels and restaurants. Since then the price has gone up and even higher than before the pandemic.

Now it ranges between $13 to $30 per pound depending on the grade and type. And it is very hard to find Blue Fin tuna.

Salmon is imported from Canada. So the price is whatever charged on Mainland supermarket plus $1-2 per pound in Hawaii. Swordfish is more caught in Atlantic than Pacific. I don't see it in the fish market. Before the shark fin ban, there used to be shark meat too on the market. Very cheap.

The local and Aaians like to eat reef fish. There are plenty on the island but they are all in Hawaiian names. The most expensive kind is called Kumu. It asks for about $20 per pound. Seasonally there are farmed mullet on the market.

There used to be fresh farmed shrimp in Kahuku. Tourists used to stop there to try them at the food trucks. Kauai also raised farmed prawns.

Though Maine lobsters are very cheap at East Coast this year, Hawaii still asks for over $20/lb. Mussels are all frozen. Can't compare with those in East Coast.

You can buy seafood in Costco. Though they have limited variety, their price is uniform. For example, tuna asks for $14/lb. Same price in other Costco stores on Mainland if it is available.

There is a famous seafood store called Tamashiro. I used to buy fresh fish in local market. There are also many "Poke" specialty stores. The last place I will go for seafood is supermarket.

[GoldKona]

Originally Posted by whtviper1

Yes, excludes primary residence and retirement funds.

Estimates of millionaire households provided by Phoenix Marketing International, a firm that tracks the affluent market. Investable assets include education/custodial accounts, individually owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities and cash value life insurance policies. Data on household incomes and home values are from the U.S. Census Bureau. Living costs are based on the Council for Community and Economic Research’s Cost of Living Index and the U.S. Bureau of Economic Analysis. Tax information is as of 2019.


I guess they are calling a multigenerational house as a household which skews things. I also wonder if insurance policies are more common here. It also doesn't seem to be clear on rental properties. A couple of those and you are in the millionaire range.

It would be more meaningful if they listed the percent of each of those qualifying assets.

[Arktikos]

Originally Posted by Ian_Lee

Salmon is imported from Canada. .

And it's farmed fish. Cheaper in Hawaii than wild Alaska salmon in Alaska.

[whtviper1]

Originally Posted by Arktikos

And it's farmed fish. Cheaper in Hawaii than wild Alaska salmon in Alaska.

What shocked me was Alaskan King Crab legs were more expensive in Anchorage than practically anywhere else including Hawaii

[grantw]

We shop Costco for Ground Beef (5-6 lb. package), Two Whole Chickens, Pork Loin and a Pork Shoulder each month. Break it up and put in vacuum sealer bags in freezer.

We have raised bed gardens with many types of fresh lettuce. Grow cherry, roma and beef steak tomatoes. Grow herbs, mac nuts, bananas, avocados and lemons.

We are retirees on Big Island...not off grid in a shack but certainly not high-bred Oahu Hawaii Kai types. A couple acres at 3,100' on the slopes of Mauna Loa in Ka'u keeps the temperature inside the house very nice without heat or a/c which puts our average electric bill @ $130/month.

Not millionaires but easy enough with some responsible living, basic planning and responsible spending to retire in Hawaii in your late 40's.

[Jim Mac]

Grantw, do you own a home or rent ? What is the average home price near you ?

Thanks.