Hawaii is one of the favorite retirement destinations among Americans. It is a place that offers advantages for end-of-career living. However, it also has some disadvantages to consider.
Every year, on the lists of best retirement destinations, Hawaii appears as one of the most desirable. However, unlike other destinations such as Florida, where there seems to be agreement, sometimes the views on Hawaii as a retirement place are not always unanimous.
We will try to review the advantages and disadvantages of this choice for your future retirement.
The first advantage seems obvious: the climate. It has excellent weather. Generally warm and far from sudden variations. As a result, it is not too hot during the summer, and not too cold in the winter.
On the other hand, the constant movement of the breeze generated by the trade winds is present practically all year round. These winds cool the atmosphere in hot weather.
Another advantage is the pace of life in Hawaii. It happens to be one of the most pleasant in the country. Not surprisingly, it has been considered the happiest and healthiest state for many years . The pace of the island is generally slow and pleasant for retirees.
Another important advantage for retirement is that Hawaii has a fairly good health care system. The state ranks among the top in the country in terms of access and quality of health care.
On the other hand, on the social level, the poverty rate is one of the lowest in the United States and security is comparatively very high. On the fiscal side, taxes are very low, in fact, they are among the lowest in the country. In addition, certain types of pensions are not subject to taxation in Hawaii.
And, of course, we cannot forget the enormous natural beauty of this destination.
The main drawback of retirement in Hawaii is the cost of living. The standard of living in this destination is pretty expensive. Hawaii is at the top of the price list for food, housing, and utilities, as well as transportation costs.
This makes the average retirement pension fair to very fair to consider living comfortably, and forces many retirees to have supplemental income.
Another element to take into account is that, although some incomes are favored with tax benefits, other incomes are not. In fact, taxpayers with the highest incomes have one of the highest tax rates in the country.
Two other factors to take into account are the need to have one’s own vehicle for mobility. Although there is a transportation system, in general, one’s own vehicle is considered necessary to get around. Another factor is, logically, the geographical factor of the distance to the continent and the possibility of extreme weather conditions such as hurricanes, etc.