Okay…first let me say that there are lots of reasons to live in Hawaii. I don’t think I even need to say that at this time of the year…however…here are a couple of reasons why living in Paradise isn’t as easy as sleeping under a coconut tree (bad idea by the way!)
1. Hawaii once again has the steepest rents in the USA. The top five were Hawaii, California, Massachussetts, New Jersey and New York. In order to rent a dumpy two bedroom apartment, renters had to earn $48,940 ($4078 per month) vs. $33,924 national average ($2827 per month)
2. Renters in Hawaii earn an average of $11.36 per hour vs a national average of $12.64.
Keep in mind that approximately 44% of all households in Hawaii are renters. (including yours truly)
So if you break down the numbers to a quick comparison it means that to live in Hawaii you need to work 359 hours a month or roughly 12 hours a day (7 days a week) if you fall into the state averages.
Compare this to falling into the national average where you need to work 224 hours a month or roughly 7.5 hours a day (7 days a week).
And people wonder why the locals here aren’t out enjoying the sun and surf every day….mainly because they are working.
the rent sudy is available at www.nlich.org