How much money do you need to retire in Hawaii?

It's the Most Expensive Place To Live in the US This means your retirement dollars won't stretch nearly as far as living in a low-cost-of-living area. And if you're following the 4% rule of retirement (living on 4% of your retirement savings), you would need to have at least $3.1 million invested to retire in Hawaii.



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What's the most affordable Hawaiian island to live on? The Big Island. With Hawaii's lowest average cost of living (according to MIT's Living Wage project), lowest fair market rents, and lowest typical yearly expenses, the Big Island can be the most economical island in Hawaii.

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Hawaii also does not impose an inheritance tax or estate tax. In addition to the exemption on social security income, Hawaii offers other tax advantages for retirees. The state has a relatively low sales tax rate, which is beneficial for seniors who tend to have a more fixed and predictable expenditure.

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One of the greatest challenges of living in Hawaii is the high cost of living. The islands are popular tourist destinations, which drives up the cost of housing, food, and other essential goods and services.

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Kaua?i now holds the #2 spot, followed by Maui, and then by O?ahu.
  • 1 - Big Island.
  • 2 - Kaua?i.
  • 4 - Oahu. (Source) In other words, if you plan to retire in Hawai?i, you'll find an increasing number of Hawai?i residents in your age group to mingle with—especially on the Big Island.


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Big Island is Hawaii's Most Affordable Island for Homes and Condos - Hawaii Real Estate Market & Trends | Hawaii Life.

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Hawaii is moderately tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are fully taxed. Wages are taxed at normal rates, and your marginal state tax rate is 7.20%.

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How to Retire in Hawaii on a Budget
  1. Move to Kailua-Kona on the Big Island for the lowest home prices.
  2. Go to Lihue, Kauai if you want a laid-back lifestyle.
  3. Set up in Paia, Maui to experience all that Hawaii has to offer.
  4. Retire in Kaneohe, Oahu if you're looking for lots of amenities.


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9 Cheapest Places to Live in Hawaii
  • Pahoa.
  • Pahala.
  • Kurtistown.
  • Kaunakakai.
  • Keaau.
  • Hilo.
  • Waianae.
  • Kahuku.


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The average Hawaii home value is $842,908, down 1.1% over the past year and goes to pending in around 19 days.

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