Is it more expensive to live on an island?

Life on an island is often more expensive than mainland living—almost everything has to be imported, after all. But relative to the rest of the Caribbean, Roatán offers excellent value. Daily life, lived well, is affordable on Roatán—a budget of $2,000 to $2,500 a month, all in, for an average retired couple.



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Dominican Republic, Belize (the only English-speaking country in Central America), Costa Rica, and Panama are a few of the most affordable islands to live on and double up as top destinations to visit. The best option for you will depend on the type of lifestyle you intend to lead.

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THE CONS of island living…
  • Lack of medical attention. ...
  • Limited access to products and services. ...
  • Lack of infrastructure. ...
  • Sultry weather. ...
  • Insect bites, and wild species. ...
  • Nature appreciation. ...
  • Slow-paced time. ...
  • You are known to everyone.


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Do You Need To Pay Taxes On A Private Island? Yes. Since a private island will likely be under the ownership of a sovereign country, chances are, taxes will need to be paid on it. However, this can be a bit of a gray area when it comes to certain countries and their tax or fee laws.

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Which Caribbean island is the safest to live in? Some of the safest islands to venture to in the Caribbean include Antigua and Barbuda, Anguilla, The British Virgin Islands, the Cayman Islands, Martinique, Montserrat, and St Barts. Check out our article: Living in the Caribbean – The Pros and Cons You Need to Know.

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Some of the safest islands to venture to in the Caribbean include Antigua and Barbuda, Anguilla, The British Virgin Islands, the Cayman Islands, Martinique, Montserrat, and St Barts.

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Haiti. Listed at number 115 on the GPI, Haiti is the most dangerous country in the Caribbean Islands as of 2022. By far the most dangerous threat to U.S. tourists is kidnapping for ransom. Reports of convoys being attacks, protests, and other violent events are also common in Haiti, as well as armed robberies.

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In other words, the warmth that you feel is real. Soothing Seaside Scenery Of course, people are only part of what make islands so magical—there's also the endlessly appealing, wonderfully calming natural beauty distinctive to places surrounded by water.

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Read further for the 10 least affordable places to live if you're an expat in 2023, ranked from the most expensive to the least expensive.
  1. New York, US. The Manhattan skyline. ...
  2. Hong Kong, China. Hong Kong's central district. ...
  3. Geneva, Switzerland. ...
  4. London, UK. ...
  5. Singapore. ...
  6. Zurich, Switzerland. ...
  7. San Francisco, US. ...
  8. Tel Aviv, Israel.


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The safest island in the Caribbean is St. Barts. But Anguilla, the Cayman Islands, and the Virgin Islands are also comparatively safe Caribbean destinations. Notably, though the Bahamas are a popular destination, they're also one of the most unsafe islands in the Caribbean.

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Listed at number 115 on the GPI, Haiti is the most dangerous country in the Caribbean Islands as of 2022. By far the most dangerous threat to U.S. tourists is kidnapping for ransom. Reports of convoys being attacks, protests, and other violent events are also common in Haiti, as well as armed robberies.

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Aruba. When travelers think of safe islands to visit during hurricane season, the “ABC Islands” of Aruba, Bonaire and Curacao often come to mind.

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Haiti remains the poorest country in the Latin America and the Caribbean (LAC) region and among the poorest countries in the world.

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Retirement on a Caribbean island can cost as little as $24,000 a year. White sand, palm trees and no need to brace for rush-hour traffic are top items on this list of Caribbean island retirement destinations.

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Unlike traditional housing, which you can usually obtain a mortgage for, you'll likely have to pay upfront for your island. Banks typically don't offer loans for islands because they can't easily appraise them. If you're lucky to get a loan, it might only cover a small part of your island's cost.

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