Hawaiian Beaches cost of living index

An overview of the general cost of living index for Hawaiian Beaches, HI is displayed above for your reference. Residents in Hawaiian Beaches, HI enjoy a cost of living index of 136. This index is 23% lower than the Hawaii average, and 36% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Hawaiian Beaches, HI, the average cost of goods and services is equal to it is in Hawaii, and it is 29% higher than the national average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Hawaiian Beaches, HI to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Hawaiian Beaches, HI, you have to earn a higher income in order to still have the same standard of living. To operate the Hawaiian Beaches, HI salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in Hawaiian Beaches, HI by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Hawaiian Beaches, HI have a median income of $49,803. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,162 per month to avoid calamity and poverty. The renters in the city have an income of about $22,650, which would make their monthly maximum allowable rental costs $528.

Hawaii Sales Tax

Hawaii Income Tax

The Hawaii sales tax and Hawaii income tax rates should definitely be considered when determining the overall cost of living in Hawaiian Beaches, HI. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Hawaii sales tax is 4.166% and the maximum surtax is 4.712%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Hawaii income tax rates range from 1.4% to 8.25%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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Source: The Hawaiian Beaches, HI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.