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I guess "comfortable" is a relative term. I live in an oceanfront West Maui condo. We have a pool, (and a beach) A/C, I travel the world (having visited around 100 countries) and travel at least once a year.
In the past 3 weeks I've been to Kimos, Dukes, Fleetwoods, Sansei, Sea House, and more. My 1-bedroom condo is small compared to the 4-bedroom house I had in California, but has everything we need.
My income is 6 figures but I live comfortably on about 75k per year. The rest goes to taxes or into savings. People I know who live away from the ocean have lower expenses than me, hence my estimate.
BTW: The post I responded to stated "a person" not a family.
You refer to "we" multiple times - combing incomes changes the game. An individual, with a mortgage or rent, car payments, cable, cell phone, utilities, etc, just bills in general - isn't likely living oceanfront with a pool, using AC, traveling the world - the math doesn't work. I get uncomfortable just thinking about this past summer heat - doubt many of those $75K folks were running AC 24/7
I guess "comfortable" is a relative term. I live in an oceanfront West Maui condo. We have a pool, (and a beach) A/C, I travel the world (having visited around 100 countries) and travel at least once a year.
In the past 3 weeks I've been to Kimos, Dukes, Fleetwoods, Sansei, Sea House, and more. My 1-bedroom condo is small compared to the 4-bedroom house I had in California, but has everything we need.
My income is 6 figures but I live comfortably on about 75k per year. The rest goes to taxes or into savings. People I know who live away from the ocean have lower expenses than me, hence my estimate.
BTW: The post I responded to stated "a person" not a family.
Is that the equivalent of 75k gross or net?
In any case, I argue that the last part of the bolded language is key. Acknowledging as you wrote that being comfortable is relative, I argue that having that cushion (so to speak) of extra money to put into savings, etc., is key to living a life that most on island would consider truly comfortable. If you are merely making 75k, I argue that your overall spending and quality of life will be lower as you have less of a cushion to splurge, travel, etc. That is, if you're smart. After all, one unforeseen expense, and you're in deep trouble.
When I lived on island, I netted just over 90k a year after taxes/401k contributions; being military, its pointless to talk about gross as it doesn't give a true sense of how well off we are given that a huge chunk of our pay isn't taxed at either the state or federal level (housing pay, food allowance, COLA, etc.).
I certainly lived comfortable, but would have had to tighten up a lot if I earned the equivalent of 75k gross.
Now, as whtviper1 mentioned, you can certainly get by (and possibly fairly well) on 75k gross. When I moved to Oahu, I rented a small one bedroom in Pearl City for $1,300 a month, so its possible to get good deals. But that place wasn't the most comfortable/luxurious place, and I bought a 2 bedroom condo in a high rise in town (my mortgage and monthly condo fees are just over 3k a month).
If I grossed 75k, generally speaking I'd be paying about $10,000 in federal income taxes after standard exemptions, $4,600 in social security taxes, about $1,000 in Medicare taxes, and roughly $5,000 in state income taxes, leaving me with about $54,400.
Using the average Honolulu one bedroom rent of $1,442 (I don't know if this figure is true, but its what I found via a quick search . . . that price certainly won't put you in a prime area), you can take away another
$17,304, which leaves you with $37,096.
Once we factor in what most consider basic necessities basic necessities (say $60/mn phone bill, $50/mn internet bill, $100 electricity bill, $200/mn on gas if you drive, $400/mn car payment, $100/mn water and sewage payment, $500/mn on basic food (no splurging or eating out) grocery bill, and $80/mn car insurance, and you're taking off another $17,880 a year, bringing your total to $19,216.
Once you factor in for retirement (the average American contributes 6% of their income to their 401k plan)--and you'd be foolish not to do so--you have to take away another $4,500, bringing you down to $14,716.
Say you spend another $1,500 a year toward your employer health insurance plan, and you're down to $13,216.
Having $13,216 left after all of your "essential" life expenses are taken care of may seem pretty good, but I repeat that these are essential/basic expenses and don't account for the occasional splurging, travel, eating out, going out, etc. In short, this doesn't account for you having a life outside of work, which adds to "being comfortable." Once you add in those things (and try to have some small savings also) that will truly make you feel like you're living a comfortable existence, you can easily see how you can start to nickel and dime things, which I argue isn't comfortable living.
You refer to "we" multiple times - combing incomes changes the game. An individual, with a mortgage or rent, car payments, cable, cell phone, utilities, etc, just bills in general - isn't likely living oceanfront with a pool, using AC, traveling the world - the math doesn't work. I get uncomfortable just thinking about this past summer heat - doubt many of those $75K folks were running AC 24/7
1. When I stated "we have a pool" I was referring to the residents of this condo complex.
2. I have a part-time "roommate" but there is no combining of incomes. I pay for everything I stated.
3. I am a careful shopper and I usually fly coach. I also don't run my A/C 24/7. I run it on hot evenings and overnight in the summer.
4. No car payment: I own it. Cell phone: T-Mobile, flat $50 for unlimited usage.
5. My mortgage/fees/utilities total just over 2k per month, (similar to my neighbors who rent).
6. Going to Great Britain in June 2020. In the last few years: Eastern Europe tour, Cuba Cruise, Baltic Cruise, South America Cruise, Spain/Portugal/Morocco tour, etc. (All in 4 and 5 star hotels.)
YMMV
BTW: I am sitting in my living room watching the ocean as I type this.
5. My mortgage/fees/utilities total just over 2k per month, (similar to my neighbors who rent).
If you make six figures and have 25K a year toward housing/utilities, it's 1/4th of your income. Not terrible... I guess someone considering a move to Maui would have to consider if that was worth it to them, if they could duplicate that income. I personally would be willing to replicate your situation if my salary could fetch that figure. I make that in Las Vegas but not sure Maui would pay that amount. Congrats on your setup, sounds nice.
I guess "comfortable" is a relative term. I live in an oceanfront West Maui condo. We have a pool, (and a beach) A/C, I travel the world (having visited around 100 countries) and travel at least once a year.
In the past 3 weeks I've been to Kimos, Dukes, Fleetwoods, Sansei, Sea House, and more. My 1-bedroom condo is small compared to the 4-bedroom house I had in California, but has everything we need.
My income is 6 figures but I live comfortably on about 75k per year. The rest goes to taxes or into savings. People I know who live away from the ocean have lower expenses than me, hence my estimate.
BTW: The post I responded to stated "a person" not a family.
Sounds like a pleasant life to me Futuremauian. Are you retired ? Nothing quite like falling to sleep with the sound of waves crashing outside your bedroom.
Sounds like a pleasant life to me Futuremauian. Are you retired ? Nothing quite like falling to sleep with the sound of waves crashing outside your bedroom.
I am retired and love the sound of the waves! But after sitting around the beach for about 6 months I realized I wasn't cut out for full retirement and became a substitute teacher. Some day I will retire again but until then I can sub as often as I want. When I do quit and apply for Social Security, it will be reduced by about 3/4 because I receive a government pension. (Pretty unfair since I earned it.) Thankfully, Hawaii doesn't tax government pensions.
Meanwhile, it is a pleasant life! This is my only home whereas nearly every one of my neighbors own two or three (or more) homes in different parts of the country and Canada. Some vacation rent their places out when they aren't here but quite a few let them sit empty for 6-9 months per year. So far, I haven't considered moving anywhere else. If I ever do, it will be to the Central Coast in California, and only if I need medical care I can't get here.
For me, things worked out better than I had hoped.
What about you Waikiki Boy, are you a retiree and do you live in Waikiki?
I am retired and love the sound of the waves! But after sitting around the beach for about 6 months I realized I wasn't cut out for full retirement and became a substitute teacher. Some day I will retire again but until then I can sub as often as I want. When I do quit and apply for Social Security, it will be reduced by about 3/4 because I receive a government pension. (Pretty unfair since I earned it.) Thankfully, Hawaii doesn't tax government pensions.
Meanwhile, it is a pleasant life! This is my only home whereas nearly every one of my neighbors own two or three (or more) homes in different parts of the country and Canada. Some vacation rent their places out when they aren't here but quite a few let them sit empty for 6-9 months per year. So far, I haven't considered moving anywhere else. If I ever do, it will be to the Central Coast in California, and only if I need medical care I can't get here.
For me, things worked out better than I had hoped.
What about you Waikiki Boy, are you a retiree and do you live in Waikiki?
I think part time work during retirement doing something you enjoy is a great way to go. It would add variety and engagement to a persons life on island where, in my opinion, there is not nearly the same level of entertainment options as in larger mainland cities.
I am not retired but hope to be within the next 3 to 5 years. I bought my condo in Waikiki in 2012 and have the ability to work remotely as I choose. Right now I’m in Oregon and rented my condo. Personally, I don’t want to live in Hawaii full time. Soon I will start using my condo more frequently and more like you describe your neighbors.
Buying my condo in 2012 and buying in a legal vacation rental property was part of my pre-retirement planning.
But now I keep getting intrigued with Maui as Honolulu feels more crowded to me and as more tall towers continue to be built around Ala Moana Mall changing the look and feel of the area. I went to the big island but it’s just not for me. I don’t like the lava fields and felt there was a lack of things I like to do. So I’m thinking of taking a look at Maui. But in the end, I’ll likely just keep what I have and enjoy a more tropical city feel in Waikiki.... which I do enjoy.
Regarding the central coast of CA, I could see myself really enjoying life in San Louis Obispo !
Feeling disagreeable and this was the best you could do? Right back at you.
You don't believe there are single people living comfortably in Hawaii on less than $75,000 per year? I bet MOST single people are living on less and are comfortable!
Perhaps it's because we don't have to pay CITY taxes that most mainlanders pay?
You don't believe there are single people living comfortably in Hawaii on less than $75,000 per year? I bet MOST single people are living on less and are comfortable!
We can agree to disagree as we all have different levels of comfortable. Once taxes take their toll - it doesn't leave much. $75,000 net is a different story.
But I suspect if you are single, without a roommate you are likely living at best in a "ok" place (or less) and with car payments and other debts as most people have, you are probably living check to check at that income on Maui. You probably have a level of stress on bills and a unexpected emergency will likely make you very - uncomfortable.
Living check to check doesn't meet my level of comfortable. The math doesn't work otherwise - it is what it is.
Now, if you said, there are many on Maui that accept a certain lifestyle at $75,000 a year, I can buy into that - comfortable, no.
Perhaps those gifted with a house are comfortable - living with parents - have a spouse - roommate, etc.....
Otherwise, no - lets be real
Last edited by whtviper1; 01-17-2020 at 09:50 AM..
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) Thankfully, Hawaii doesn't tax government pensions.
