Ocean Pointe cost of living index

An overview of the general cost of living index for Ocean Pointe, HI is displayed above for your reference. Residents in Ocean Pointe, HI enjoy a cost of living index of 193. This index is 9% higher than the Hawaii average, and 93% 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 Ocean Pointe, 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

Use the salary calculator to compare your current salary in Ocean Pointe, HI to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Ocean Pointe, HI, then you would need to earn more income in order to maintain the same standard of living. To use the Ocean Pointe, HI salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Ocean Pointe, HI, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Ocean Pointe, HI homeowners have a median income of $120,500. Using that number, you will come up with a maximum of $2,811 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $92,083, which means there is a maximum of $2,148 to be spent on the costs of renting a home or apartment.

Hawaii Sales Tax

Hawaii Income Tax

One thing to keep in mind when considering the cost of living in Ocean Pointe, HI is the Hawaii sales tax and Hawaii income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Hawaii sales tax rate is 4.166% and the maximum surtax that can be charged is 4.712%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% 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 Ocean Pointe, HI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.