F
59%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
128%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Waimalu Hawaii National
Cost of living159173100
Goods & Services127130100
Groceries117137100
Health care123126100
Housing228250100
Transportation135143100
Utilities151180100

An Overview of Cost of Living in Waimalu, HI

Getting a feel for the cost of living in Waimalu is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Waimalu is 159, which is 59% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you prioritize affordability when seeking a new place to live, Waimalu may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Waimalu falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Waimalu cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 127.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Waimalu, these items will cost you 26.8% more than what most folks pay, making it a bit more expensive to live here.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Waimalu, it's the same story – grocery costs are 16.7% higher than what people pay across the country.

Is Waimalu Affordable?

Is Waimalu affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Waimalu, the median home price is 145.5% higher than the national average and monthly rent prices are 85.5% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Waimalu boasting a median household income of $75,560, 36.6% higher than the national average.

What Factors can Influence the Cost of Living in Waimalu?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Waimalu, the housing index stands at 127.5% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Waimalu, the groceries index registers 16.7% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The Waimalu cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Waimalu is 8% lower than the Hawaii average
  • The cost of living in Waimalu is 59% higher than the national average
  • Waimalu housing is 128% higher than the national average
  • Hawaii general sales tax is 22% lower than the national average
  • Hawaii state income tax is 38% lower than the national average

Most Affordable Places to Live in and Around Waimalu

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Compare Waimalu, HI Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$84,821$7,068$1,979$2,545
      Renters$71,747$5,979$1,674$2,153
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Waimalu, 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 Waimalu homeowners, is $84,821. This would allow for a maximum of $1,979 per month to be spent on housing costs. For renters, the median monthly income is $71,747 which would result in a maximum of $1,674 to be spent on rental costs.

      Hawaii Sales Tax

      State General Sales Tax With Max Surtax
      Hawaii 4% 4.712%

      Hawaii Income Tax

      State Income Tax (Low) Income Tax (High)
      Hawaii 1.4% 11%

      Goods & Services

      Item Waimalu National avg. Difference
      Haircut $19.47$24.2619.8%
      Beauty Salon $76.67$45.5668.3%
      Toothpaste $3.68$3.700.6%
      Shampoo $1.73$1.2834.8%
      Movie $15.08$12.1324.3%
      Bowling $25.33$18.0040.7%

      Groceries

      Item Waimalu National avg. Difference
      Ground Beef $5.42$5.847.2%
      Fried Chicken $2.85$1.5781.0%
      Milk $5.38$4.6715.1%
      Potatoes $5.94$4.9320.4%
      Pizza $14.99$12.0924.0%
      Beer $12.01$10.4115.4%

      Health Care

      Item Waimalu National avg. Difference
      Optometrist $236.67$125.6888.3%
      Doctor $191.36$135.7840.9%
      Dentist $114.44$113.291.0%
      Ibuprofen $11.35$10.656.6%
      Lipitor $573.90$468.6022.5%

      Housing

      Item Waimalu National avg. Difference
      Home Price $453,500.00$184,700.00145.5%
      Avg. Mortgage Payment $8,008.77$2,346.69241.3%
      Apartment Rent $1,760.00$949.0085.5%

      Transportation

      Item Waimalu National avg. Difference
      Gasoline $4.80$3.4638.8%
      Tire Balancing $75.37$59.9225.8%

      Utilities

      Item Waimalu National avg. Difference
      All Electricity $359.53$193.9985.3%
      Phone $184.47$192.254.0%
      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.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Kailua CDP (Hawaii County), HI13,61714848.1%
      Nanakuli, HI11,37915049.9%
      Waipio Acres, HI5,55615757.2%
      Whitmore Village, HI3,76416868.1%
      Ewa Villages, HI6,45216868.3%
      Waimalu, HI13,71415958.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Moberly, MO13,7108416.4%
      Lebanon, NH13,71812323.1%
      Lake Arbor, MD13,72013635.6%
      McMinnville, TN13,7078416.2%
      Glenn Dale, MD13,72214242.4%
      Waimalu, HI13,71415958.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.