Everyone wants a home that mixes affordability with comfort and Hawaii does this very well. Families love the Aloha State’s beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state — and that’s how we’re going to help you.
These are the places in Hawaii that cost a pretty penny — the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Hawaii for 2019.
So where is the most expensive place to live in Hawaii? That would be Wailea.
So hopefully Hilo (the cheapest place to live in Hawaii) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Hawaii and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Hawaii For 2019
The median income in Wailea comes in at $68,675 and the median home value is $936,400 for 2019.
The median income in East Honolulu comes in at $120,233 and the median home value is $888,400 for 2019.
The median income in Urban Honolulu comes in at $65,707 and the median home value is $628,300 for 2019.
The median income in Kailua Cdp (Honolulu County) comes in at $114,381 and the median home value is $901,200 for 2019.
The median income in Wahiawa comes in at $57,910 and the median home value is $526,800 for 2019.
The median income in Wailua Homesteads comes in at $76,250 and the median home value is $601,200 for 2019.
The median income in Kaneohe comes in at $97,598 and the median home value is $697,000 for 2019.
The median income in Kalaheo comes in at $84,828 and the median home value is $672,600 for 2019.
The median income in Kula comes in at $82,468 and the median home value is $858,200 for 2019.
Aiea is a census-designated place located in the City and County of Honolulu, Hawaii, United States. As of the 2010 Census, the CDP had a total population of 9,338.
The median income in Aiea comes in at $104,214 and the median home value is $756,200 for 2019.
How We Determined The Most Expensive Places To Live In The Aloha State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Hawaii to figure out which is the most expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 50 places in Hawaii that have more than 5,000 people.
The place with the highest cost of living in Hawaii according to the data is Wailea.
Taking A Chunk Out Of Your Paycheck In Hawaii For 2019
Well there you have it, the places in Hawaii that have the highest cost of living, with Wailea ranking as the most expensive city in the Aloha State.
Here’s a look at the most affordable cities in Hawaii according to the data:
- Ewa Villages
For more Hawaii reading, check out:
Detailed List Of The Most Expensive Cities In Hawaii
|4||Kailua Cdp (Honolulu County)||10.33|
|38||Kailua Cdp (Hawaii County)||33.33|
|43||Hawaiian Paradise Park||35.33|
|47||Waimea Cdp (Hawaii County)||36.33|