Hawaii is a great place to live, with lots of sunshine and beautiful beaches. The two bedroom rent in the state is $2,130, which is much higher than the U.S. average of $1,430. Along with higher rent prices comes a higher Grocery Cost Index for Hawaii, which is 151 versus 100 in the US. Despite the cost of living in Hawaii being high, it is still attractive to many businesses and local companies such as Hawaiian Airlines, Bank of Hawaii and Matson Navigation Company who provide jobs and help create economic growth in the area.
Hawaii has an unemployment rate of 8.6%. The US average is 6.0%.
Hawaii has seen the job market increase by 0.0% over the last year. Future job growth over the next ten years is predicted to be 32.1%, which is lower than the US average of 33.5%.
Tax Rates for Hawaii
- The Sales Tax Rate for Hawaii is 4.4%. The US average is 7.3%.
- The Income Tax Rate for Hawaii is 8.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hawaii
- The average income of a Hawaii resident is $29,552 a year. The US average is $28,555 a year.
- The Median household income of a Hawaii resident is $88,005 a year. The US average is $69,021 a year.