Many people who visit Hawaii find themselves dreaming of retiring here—and for good reason. With its ideal climate, stunning natural beauty, tranquil atmosphere, breathtaking ocean views, and welcoming culture, Hawaii offers a picture-perfect setting for enjoying one's golden years. In this blog series, I'll explore the different aspects of retirement in Hawaii, providing insights to help you make informed decisions and turn your dream into reality if you choose to make the move.
The big question that always comes up: Is retiring in Hawaii affordable? Hawaii is known for its high cost of living due to its reliance on imported goods, limited housing availability, and strong demand from both residents and tourists. However, with careful planning, the dream of retiring in Hawaii can absolutely be a reality. The key lies in knowing where to look, understanding how to manage costs, and making strategic lifestyle choices.
The Cost of Living Factor
It's no secret that the cost of living in Hawaii is higher than on the U.S. mainland, with housing, groceries, utilities, and healthcare often coming at a premium. However, that doesn't mean you need to spend a fortune to enjoy a comfortable retirement. Depending on your lifestyle and priorities, the Big Island offers several affordable living options. In upcoming blogs, I'll explore various locations in detail, but for now, let's focus on one of the best: Waikoloa Village—a hidden gem for budget-friendly retirement in Hawaii.
Why Waikoloa Village is the Perfect Retirement Spot
Waikoloa Village, located on the Kohala Coast of the Big Island, offers an incredible balance of affordability and convenience. Here's why retirees love it:
Most Affordable Yet Close to Amenities: Compared to other coastal communities in Hawaii, Waikoloa Village offers more budget-friendly housing options while still providing access to top-tier amenities.
Ideal Location: Nestled in a peaceful setting, yet just a 15-minute drive from world-class beaches and luxury resorts.
Higher Elevation, Cooler Climate: One of Waikoloa Village's distinguishing features is its higher elevation, which translates to a slightly cooler and more comfortable climate. As the Village rests at a higher altitude compared to coastal areas, residents can enjoy milder temperatures and refreshing trade winds.
Grocery Store, Shopping, Dining, and Other Services: Two shopping centers, Waikoloa Village Market and Waikoloa Plaza, provide various shopping, dining, service, and healthcare options.
Recreational Opportunities: The Waikoloa Village Golf Course offers low green fees for residents. Additionally, there's a half-Olympic-size swimming pool, skate park, tennis courts, and ample outdoor activities to enjoy.
Healthcare Access: North Hawaii Community Hospital is just 30 minutes away, ensuring peace of mind.
Check out this blog post for more details on why Waikoloa Village is a fantastic place to live.
Featured Listing: A Perfect Retirement Condo Under $425,000
If you've been dreaming of retiring in Hawaii, this 2-bedroom, 2-bathroom condo in Elima Lani at Waikoloa Village is an opportunity you won't want to miss.
Property Highlights:
Prime Location
Convenience at Your Doorstep: This condo is just steps away from lush green fairways and overlooks a tranquil golf course pond, offering a peaceful setting with beautiful views. You'll be within walking distance of shopping (1/4 mile), dining, and the golf course, making daily errands and recreational activities a breeze.
Proximity to the Best Beaches and Resorts: Living here means you're only a 15-minute drive from the Big Island's best beaches and world-class resorts. Spend your weekends lounging on white-sand beaches, snorkeling in crystal-clear waters, or enjoying fine dining at nearby luxury hotels.
Unique Microclimate: Waikoloa benefits from a sunny, dry microclimate that offers more sunshine and less rainfall than many other parts of the island. It's the perfect place to enjoy warm weather year-round.
Move-In Ready with Modern Updates
The condo features fresh paint, new luxurious vinyl flooring, and all-new dual-pane windows. These updates not only make the space feel bright and modern but also improve energy efficiency, keeping the home cool during warm Hawaiian days and reducing noise. The condo is sold with most furnishings, making your move effortless. This is ideal for buyers looking for a hassle-free transition—just bring your personal belongings and start enjoying your new home immediately.
Spacious, Bright, & Easily Accessible
The open-concept design maximizes the living space, creating a comfortable and welcoming environment for relaxation and entertaining. Whether you're hosting a family gathering or enjoying a quiet evening at home, this condo offers the perfect setting. In addition, its ground-floor location makes it easily accessible for everybody - no climbing stairs or waiting for elevators.
Community Amenities You'll Love
Living in the Elima Lani complex means access to two sparkling community pools. One of the pools is just two buildings away—close enough for convenience but far enough for privacy. You'll also appreciate the well-maintained common areas and the friendly neighborhood atmosphere.
Low HOA Fees
Unlike many condos, which have steep monthly dues, this property has low HOA fees. Whether you plan to live here full-time or use it as a second home, this makes it a budget-friendly option. HOA fees cover water, building insurance, basic cable, and maintenance. What is left to pay is upgraded Wi-Fi and electricity, which is usually under $100 a month.
The Seller's $3,000 Credit: A Rare Opportunity
Buying a home is a significant investment; that's why the $3,000 credit from the Seller is a fantastic bonus, giving you the financial flexibility to manage high upfront costs. Here's how you can use this credit:
Cover Non-Recurring Closing Costs: Closing costs can be a major part of any real estate transaction. This credit can offset those costs, making the process more affordable.
Lower Your Interest Rate: Lenders typically charge 1-2% on the money you borrow. By using this credit to buy down your interest rate, you could save thousands of dollars over the life of your loan, resulting in lower monthly payments.
Contribute to a Down Payment: For VA loans, this credit can even be applied towards your down payment, making it easier for veterans to purchase a home.
The Seller is motivated and wants to help you achieve your dream of owning this beautiful island home. This kind of financial support is rare in today's market, making it a unique opportunity you won't want to miss.
Why This Condo Is the Right Choice
If you're on a low budget but have high expectations, this condo delivers exceptional value. Here's why:
Affordable Price Point: The condo is priced to sell, making it an attractive option for buyers looking for quality and value in a competitive market.
Flexibility: Whether you're looking for a permanent residence, a part-time retreat, or a rental investment, this property offers the versatility to meet your needs.
Ease of Viewing and Quick Move-In: The condo is very easy to show and ready for immediate occupancy. You could be moving into your new home and starting to enjoy island life sooner than you think.
This condo offers an unbeatable combination of affordability, convenience, and comfort. Contact me today for more details!
Other Ways to Save in Retirement on the Big Island
Beyond choosing the right home, retirees can keep costs low in Hawaii with smart money-saving strategies:
Shop Smart
Costco & Big Box Stores: Save on groceries and household essentials by shopping at Costco in Kona, Walmart, or online. Many items at Costco cost two to three times less than in a regular grocery store, so it is worth a 20-minute drive to get there. Many residents use Amazon Prime to order non-perishable foods, household items, and other wares and save on shipping.
Farmers' Markets: Fresh, local produce is often more affordable and healthier than mainland imports. Waimea, Waikoloa, and Hawi all have excellent farmers' markets. The beauty of Hawaii is that fresh produce is available year-round and often comes farm-to-table at a much lower cost.
Lower Entertainment Costs
Golf for Less: Waikoloa Village Golf Course offers some of the most affordable golf rates on the island, especially for residents. You can see the current rates here.
Beaches & Outdoor Activities: With pristine beaches just minutes away, retirees can enjoy free outdoor recreation like snorkeling, hiking, and beach walks year-round.
World-Class Amenities: The proximity to world-class luxury resorts means you can still enjoy all their amenities but don't have to live there. Shopping centers within the resorts often host free entertainment events like live music, hula, markets, etc., that anybody can attend. Check The Kings' Shops or Queen's Marketplace in Waikoloa Beach Resort for their event schedules.
Cut Utility Costs
Solar Energy: Many homes in Hawaii utilize solar power, helping reduce electricity costs.
Low Heating & Cooling Bills: Thanks to Hawaii's temperate climate, heating is rarely needed, and Waikoloa's trade winds help keep homes cool, reducing AC usage.
Final Thoughts: Can You Afford to Retire in Hawaii?
The answer is a resounding yes - if you plan wisely. Waikoloa Village provides an excellent balance of affordability, amenities, and accessibility, making it a top choice for retirees who want to enjoy the Hawaiian lifestyle without excessive costs.
New Listing Is Coming Soon in Waikoloa Village! Stay Tuned for Details!
Ready to explore your options? Reach out to me today to find the perfect retirement home in paradise!
Ta Da!
Aloha,
Jan
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