Makawao cost of living index

A general summary of the cost of living index in Makawao, HI is shown above. Compared to the state average of Hawaii the cost of living index in Makawao, HI is 173, which is 2% lower than the average in Hawaii and compared to the national average it is 73% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Makawao, HI goods and services come in at equal to the average in Hawaii and are 29% higher than compared to the nationwide average.

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Salary Calculator

Using the salary calculator lets you compare the salary you earn in Makawao, 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 Makawao, HI, you have to earn a higher income in order to still have the same standard of living. To operate the Makawao, 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

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Makawao, HI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Makawao, HI homeowners, is $73,314. This would allow for a maximum of $1,711 per month to be spent on housing costs. For renters, the median monthly income is $49,104 which would result in a maximum of $1,146 to be spent on rental costs.

Hawaii Sales Tax

Hawaii Income Tax

When considering the overall cost of living expenses in Makawao, HI, it's important to take into account the sales tax for Hawaii, as well as the rate for income tax in Hawaii. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Hawaii is 4.712%, and the sales tax in the state of Hawaii is 4.166%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Hawaii starts from 1.4% and goes up 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 Makawao, HI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.