F
81%
Overall NAT. AVG.
27%
Goods & Services NAT. AVG.
201%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Makakilo Hawaii National
Cost of living181173100
Goods & Services127130100
Groceries117137100
Health care123126100
Housing301250100
Transportation135143100
Utilities151180100

An Overview of Cost of Living in Makakilo, HI

Getting a feel for the cost of living in Makakilo is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Makakilo is 181, which is 81% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you value affordability in your search for a new place to live, Makakilo may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Makakilo falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs are a major factor in the Makakilo cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 200.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Makakilo, these items will cost you 26.8% more than what's considered the norm, making it a more expensive place to call home.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Makakilo, it's the same story – grocery costs are 16.7% higher than what people pay across the country.

Is Makakilo Affordable?

Is Makakilo affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Makakilo, for instance, where the median home price falls 244.5% higher than the national average, and monthly rent rates are 98.3% higher than usual. Additionally, median income levels contribute to the equation, with Makakilo flaunting a median household income of $111,036, 100.7% higher than the national norm.

What Factors can Influence the Cost of Living in Makakilo?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Makakilo, the standard sales tax rate starts at 4%, and the income tax rates commence at 1.4%.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Makakilo, the housing index comes in at 200.6% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Makakilo cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Makakilo is 4% higher than the Hawaii average
  • The cost of living in Makakilo is 81% higher than the national average
  • Makakilo housing is 201% higher than the national average
  • Hawaii general sales tax is 22% lower than the national average
  • Hawaii state income tax is 46% lower than the national average

Most Affordable Places to Live in and Around Makakilo

See all the best places to live around Makakilo

Compare Makakilo, HI Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$130,754$10,896$3,051$3,923
      Renters$61,530$5,128$1,436$1,846
      The affordability of the housing market in Makakilo, HI as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Makakilo homeowners, the median income is $130,754. This indicates that a monthly maximum of $3,051 should be spent by homeowners on all housing related costs. Renters have a median income of $61,530. This indicates that renters would have a maximum of $1,436 for their rent related monthly costs.

      Hawaii Sales Tax

      State General Sales Tax With Max Surtax
      Hawaii 4% 4.712%

      Hawaii Income Tax

      State Income Tax (Low) Income Tax (High)
      Hawaii 1.4% 11%

      Goods & Services

      Item Makakilo National avg. Difference
      Haircut $19.47$24.2619.8%
      Beauty Salon $76.67$45.5668.3%
      Toothpaste $3.68$3.700.6%
      Shampoo $1.73$1.2834.8%
      Movie $15.08$12.1324.3%
      Bowling $25.33$18.0040.7%

      Groceries

      Item Makakilo National avg. Difference
      Ground Beef $5.42$5.847.2%
      Fried Chicken $2.85$1.5781.0%
      Milk $5.38$4.6715.1%
      Potatoes $5.94$4.9320.4%
      Pizza $14.99$12.0924.0%
      Beer $12.01$10.4115.4%

      Health Care

      Item Makakilo National avg. Difference
      Optometrist $236.67$125.6888.3%
      Doctor $191.36$135.7840.9%
      Dentist $114.44$113.291.0%
      Ibuprofen $11.35$10.656.6%
      Lipitor $573.90$468.6022.5%

      Housing

      Item Makakilo National avg. Difference
      Home Price $636,300.00$184,700.00244.5%
      Avg. Mortgage Payment $8,008.77$2,346.69241.3%
      Apartment Rent $1,882.00$949.0098.3%

      Transportation

      Item Makakilo National avg. Difference
      Gasoline $4.80$3.4638.8%
      Tire Balancing $75.37$59.9225.8%

      Utilities

      Item Makakilo National avg. Difference
      All Electricity $359.53$193.9985.3%
      Phone $184.47$192.254.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Waianae, HI13,19214545.1%
      Makaha, HI10,08714646.3%
      Nanakuli, HI11,37915049.9%
      Waipio Acres, HI5,55615757.2%
      Waimalu, HI13,71415958.8%
      Makakilo, HI19,56518180.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Affton, MO19,580928.0%
      Monroe, MI19,543937.4%
      El Reno, OK19,5398515.3%
      Stony Plain, AB19,599n/a 
      Old Jamestown, MO19,602990.7%
      Makakilo, HI19,56518180.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.