The cost of living in Hawaii is very high compared to most states in the country. It is important to know if you can afford to live there before making the move. According to "Forbes" magazine, Honolulu is considered the fifth most expensive place to live in the United States.
East Oahu and other popular tourist spots also carry a high price tag when it comes to the cost of living. Hawaii imports almost every product. As a result, the costs can be over 50 percent higher than other U.S. states, while gas prices are the highest in the country.
The average cost of a house in Hawaii is $400,000 and the average monthly cost for an apartment rental is $1,800, according to a "Forbes" Real Estate Advisor article from March 2010. When most people move to Hawaii they first settle in Oahu, the job and entertainment center.
Job opportunities and salaries in Oahu surpass that of other parts of the island, and housing prices there are the highest. Rental costs on the islands of Hawaii, Kauai and Maui are slightly cheaper than Honolulu.
Jobs in Hawaii are primarily in the tourism industry. Other job sectors include agriculture, retail, construction, health care, federal jobs and green jobs.
According to the Hawaii Labor Market Dynamics 2010 Report, Hawaii ranks 42nd in the country in labor force size and population. Workers ages 45 to 54 are paid the biggest monthly salary of $3,896.
