Moving To Lahaina Maui - Need Advice!

[Rido]

Originally Posted by katiebrown00

What is the average cost of living in Hawaii? I figured it's more expensive in Oahu. I am a RN in dialysis and my company has many branches in Hawaii. Would prefer a more laid back life style. Thanks.

I am assuming davita?

an experienced RN can live here comfortably.

[Bigbensbears]

I recently got a transfer to Maui , still debating on going, I make 20/ hr full time and was wondering if that is enough to survive on

[Mauilocalboy]

Originally Posted by Bigbensbears

I recently got a transfer to Maui , still debating on going, I make 20/ hr full time and was wondering if that is enough to survive on

What will you be doing? Are you going by yourself?

$20 an hour is do-able for a single person renting in a bedroom or studio apt.

[davephan]

Originally Posted by beautifuljoon

Aloha. I get it, paradise stops being paradise when you have to work two jobs and live with just the basics. I do that now and don't do anything with all the money left over because I live in an ugly cold town with unfriendly people and have no desire to buy nick nacks to "fill a void". My husband and I have $11,000+ saved up (half of that will be going to purchasing a car on the island) and he will be working as a chef. Total AFTER taxes are taken out we will be bringing in $3,000 (same as we do here). I figure $1,000 for an apartment, then utilities (my company pays for phone & internet)...car insurance, gas and food. That doesn't leave us with a whole lot left over (don't care, I never buy anything anyways). But is it enough? I know there are costs people don't think about and I want to know from someone who lives in Maui if we can live in a 1bdrm apt. and live off a $3,000 salary if we are thrifty people or if I am crazy for even trying? Thank you for your response, It's much appreciated!

I don't think that's enough savings to make the move and not enough income to survive there. I'm guessing that you won't last very long there. I find it hard to imagine how we could survive on $30K here in Minnesota where the cost of living is about 60% cheaper. We are completely debt free, live off $55K, but make several times that, so we can save a lot for retirement.

For most people, they seem to need about $20K or more to make the move to Hawaii and a significant income stream to survive there. Even a $100K income doesn't go that far in Hawaii. But if you look at the statistics, the medium family income is far below $100K in Hawaii. So, it depends on how you live your life.

I think an easy way to look at it is, how much do you live on right now, where you currently live. That number is pretty easy to figure out. Just take the money that is left over after all your living expenses, and subtract that from your gross family income. Once you know how much you live on per year, calculate the cost of living difference between where you currently live and where you are thinking of living. This will live you a rough idea how much income you will need to survive.

You didn't mention if you are living debt free now, your age, and your retirement savings. If you have debt, that will make the move more difficult. You also need to consider your long term retirement savings goals. You also didn't mention if your goal is to move to Hawaii and stay there, or only stay for 6 months to a year or two. From the many stories I've read, people who think about moving to Hawaii with your income level and savings, where the people actually moved to Hawaii, the vast majority simply could survive for very long and are forced to return to the mainland with years of savings wiped out. So, think about it very carefully because it could set your life back for years.

However, there are a few stories about people who made the move and managed to stay long term, but those stories are very rare. The main problem to overcome is the very high cost of living, and most jobs pay significantly less than many areas on the mainland. Higher income and higher net worth dramatically increases the odds in your favor, since it takes so much money to survive in Hawaii. You need to visit Hawaii several times before you consider moving there. If you can't afford to visit Hawaii several times, then you can't afford to live there.