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Old 12-20-2008, 08:59 PM
 
Location: Maryland
1,534 posts, read 4,054,592 times
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We're thinking about relocating to Maui for a year as home base to explore Hawaii. We're a retired couple in late 50s, early 60s and just want to enjoy & explore the islands. We have a secure pension income of $75K+ and additional resources up to $100K/yr if needed. We've done a lot of research on rentals and would cover housing costs outside of the $75K number. Is $75K enough to sustain a pleasant lifestyle (middle class, no high end habits) excluding housing? Obviously we'd need to rent or buy a vehicle and plan on frequenting restaurants and inter-island transportation fairly often. Any thoughts or comments would be welcome.
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Old 12-20-2008, 09:17 PM
 
Location: Moku Nui, Hawaii
10,909 posts, read 21,761,303 times
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If you can't live on six grand a month in Maui then something is whacko.
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Old 12-20-2008, 09:51 PM
 
Location: Maryland
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hotzcatz: Your input is always appreciated, I know that you are a frequent source of valuable Hawaii advice. We've vacationed on Maui several times for limited periods (2-4 weeks) and I've commented on the current B&B situation in a separate thread. Our future plans may include a year long stay (since house/condo rentals are much less expensive on an annual basis) than the $125/250/day B&B rates we are accustomed to. You've basically answered my question - many thanks.
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Old 12-21-2008, 08:49 AM
 
1,046 posts, read 4,695,400 times
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Having lived on Maui for a while, there are a few things that are consistently more expensive and they do add up. One major variable -- depending upon where you rent geographically and the terms of your lease -- is utilities. Electricity is especially expensive and some localities have private water companies in addition to the county sewage and trash removal charges. (Cable TV/internet and telephone services seem more in line with mainland utility fees.)

I lived in DC/NoVa for 20 years, so I was accustomed to expensive housing, high taxes, and paying a premium for almost everything, but if you "have to" pay for A/C on Maui because of where you're living or for health reasons, you will be stunned by your first few bills. I think it's the wise "hotzcatz" here who suggests looking at your current usage and multiplying the kwh by $.45 to get an idea of the premium. (Then you have to add more for constant year-round temps since you're living in a moderate, seasonal climate.)

If you're renting a condo with utilities and services included in your monthly fee, it's obviously not an issue, but your earlier posts have sounded more like you'd look for a house.

You've been there enough to know about food costs, so I'm sure you've factored that in. Gas is the other obvious culprit, but we find we drive very little on Maui, so net/net the monthly cost isn't as shocking as the dollar-higher per-gallon cost might lead one to believe.

Sounds like you should be quite comfortable. You can "conserve," but things seem to add up, and it's easier to spend twice what you think you might, oddly. Keep us posted on your plans -- it's a great adventure.

Last edited by whynot?; 12-21-2008 at 08:51 AM.. Reason: clarification
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Old 12-21-2008, 11:21 PM
 
Location: Moku Nui, Hawaii
10,909 posts, read 21,761,303 times
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My neighbor mentioned Mokulele flights are down to $35 each way now, although I'm sure there are all sorts of restrictions and such. But at $75K a year, that's $205 dollars a day. You could spend that much each and every day if you tried, I suppose, but you'd probably get sick of eating too much pretty quick.

I suppose if you vacation to the other island frequently and pay for hotels there, you could rack up some pretty high numbers. $6,250 a month is a pretty big chunk of change to play with, though.
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Old 12-22-2008, 12:48 AM
 
Location: Honolulu, HI
5,618 posts, read 6,041,527 times
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Quote:
Originally Posted by hotzcatz View Post
If you can't live on six grand a month in Maui then something is whacko.
I have to agree. After paying for housing, having a minimum of $6,250 on hand for other monthly expenses and fun activities, life should be very comfortable...on Maui or ANY island.
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Old 12-22-2008, 12:50 AM
 
200 posts, read 985,627 times
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Default Maui $$

With only 2 of you, living on $75K+ per year shouldn't be too hard. Having a family of 4 we are trying to leave Maui because we are finding it very difficult to stretch our $75K per year.
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Old 12-22-2008, 12:40 PM
 
Location: Moku Nui, Hawaii
10,909 posts, read 21,761,303 times
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True, Maui08, but you have to pay for your housing and utilities out of that amount, don't you? These folks have that as their discretionary income. Way different beast indeed! We have a family of two (four if you count the dogs and much bigger if we can count the chickens) on less than half that amount but we are not exactly "upscale".
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Old 12-22-2008, 08:17 PM
 
200 posts, read 985,627 times
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Default stretching the dollar....or cents

Yes, we do have to pay for housing and utilities with our income. I do think those folks will be just fine with their financial situation coming to live here.
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Old 12-22-2008, 11:31 PM
 
Location: Maryland
1,534 posts, read 4,054,592 times
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To All: Many thanks for your input. You're an example of why we enjoy Hawaii so much. The islands seem to attract many folks who are our kind of people. We appreciate your time and advice. We won't ever relocate there permanently (family and geographic preferences - plus I'm addicted to long road trips in the Mustang convertible so wouldn't leave the mainland permanently) but we are excited to be seriously looking at a multi-month/year long visit in 2010 to really explore the islands properly. Hawaii is a unique environment and one we hope to enjoy again, with respect and the highest regards, thank you.
Tom
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