Living Wage Calculator - Living Wage Calculation for Honolulu County, Hawaii (2024)

FAQs

Living Wage Calculator - Living Wage Calculation for Honolulu County, Hawaii? ›

To live comfortably in Hawaii, an annual income of around $70,000 to $100,000 for a single person, or $120,000 to $200,000 for a family is recommended. Is it expensive to live in Hawaii? Yes, Hawaii is known for its high cost of living due to factors such as housing, groceries, utilities, and transportation.

To live comfortably in Hawaii, an annual income of around $70,000 to $100,000 for a single person, or $120,000 to $200,000 for a family is recommended. Is it expensive to live in Hawaii? Yes, Hawaii is known for its high cost of living due to factors such as housing, groceries, utilities, and transportation.

The Living Wage Calculator's estimates are based on the costs of eight components, each of which represents a basic need: childcare, civic engagement, food, health care. housing, internet & mobile, transportation, and other necessities.

Living in Hawaii on $2000 a month can be challenging due to the state's high cost of living. While a one-bedroom apartment might cost between $1,500 and $2,000, this leaves limited funds for other essentials like utilities, groceries, and transportation.

Living Wage, a website that calculates how much money is needed to live comfortably in a state or county, has information on what it would take to live in Honolulu County. According to their calculations a livable wage for a single person living in Honolulu would be $22.69 per hour or $47,195 per year before taxes.

Q: Can you live in Hawaii with $3,000 a month? A: That depends on several factors, such as your individual lifestyle, specific living expenses, location, and whether or not you're retiring in Hawaii on a budget. Generally speaking, though, $3,000 a month may be a tight squeeze.

SmartAsset says a single working adult must earn at least $114,000, or about $55 an hour, to support themselves in the Golden State. When it comes to a basic “living wage,” MIT says a single adult in California needs to earn $27.32 per hour or $56,800 per year.

​This mixed methods methodology stipulates that to calculate a living wage or living income, one must first identify what it would cost for a household to afford a decent standard of living. In the case of living income, this decent living cost can then be used as a living income benchmark.

Simply add up all of your monthly fixed expenses, like rent or a mortgage payment, and your variable expenses, such as groceries and gas costs. Also factor in occasional but expected purchases, such as new tires. The resulting amount, assuming you aren't going to debt every month, is your cost of living.

The living wage is calculated by first establishing the cost for the basic but decent life in a specific region, inclusive of food, housing, education, healthcare, transportation, clothing and other essential needs for a family including unexpected events. The exact costs reflect local items and prices.

Is $40 an hour good in Hawaii? ›

As of Jun 8, 2024, the average hourly pay for a 40 Dollars An Hour in Hawaii is $23.49 an hour. While ZipRecruiter is seeing salaries as high as $53.20 and as low as $11.20, the majority of 40 Dollars An Hour salaries currently range between $16.80 (25th percentile) to $31.57 (75th percentile) in Hawaii.

How much does it cost to retire in Hawaii? Retiring in Hawaii is not cheap; if you want to retire in the state, you need to have a lot of retirement savings. According to CNBC, you will need about $2 million to retire comfortably in Hawaii.

Properties in Hawaii on the low end, such as small houses and condos, typically run about 500 and 600 kWh per month. This comes out to an electric bill between $150 and $250. In the more luxury focused areas, homes have an average usage of between 1400 and 1600 kWh.

The average salary in Honolulu, HI is $45,385 per year or $21.82 per hour. Entry level positions start at $33,150 per year while most experienced workers make up to $112,424 per year.

A family of four estimated monthly costs are 5,206.1$ without rent. A single person estimated monthly costs are 1,460.5$ without rent. Honolulu is 11.0% less expensive than New York (without rent). Rent in Honolulu is, on average, 45.9% lower than in New York.

How much does an Upper Class make in Hawaii? As of Jun 9, 2024, the average annual pay for an Upper Class in Hawaii is $57,463 a year. Just in case you need a simple salary calculator, that works out to be approximately $27.63 an hour. This is the equivalent of $1,105/week or $4,788/month.

If you are a single person in Los Angeles making around $70,000 a year, you are still considered low-income, according to a new statewide study. The California Department of Housing and Community Development released the report in June and found that income limits have increased in most counties across California.