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Makawao HI Living Costs vs Value a Guide to Balancing Budget and Community Ties

Posted by benjamen.harper@gmail.com on November 10, 2024

Maui

Exploring Makawao’s cost of living: Value in the community

Hawaii

Exploring Makawao's cost of living: Value in the communityImage

Quick Facts
Exploring Makawao’s Cost of Living: A Valuable Community Awaits
Housing in Makawao
Transportation in Makawao
Cost of Living Breakdown
Frequently Asked Questions
Resources & Links
For Buyers & Sellers

Quick Facts

Here is a bulleted list of 10 quick facts about exploring Makawao’s cost of living:

The overall cost of living index in Makawao is 185.2, 85.2 points higher than the national average.
The median home price in Makawao is around $640,000, with some neighborhoods reaching up to $1 million per home.
Rentals in Makawao have a median rent of $1,800 per month for a one-bedroom apartment and $2,800 per month for a three-bedroom.
The average cost of groceries in Makawao is 48% higher than the national average, with milk costing around $6 per gallon and eggs at $4 per dozen.
Makawao has a higher transportation cost due to parking fees, tolls, and gas prices, which are 20% higher than the national average.
The average cost of healthcare in Makawao is 15% higher than the national average, with doctor’s visits and hospital stays being the highest expenses.
Makawao has a 10.25% sales tax, higher than the national average, which affects the cost of goods and services.
Utilities such as electricity, water, and internet in Makawao are 25% higher than the national average, with the average electricity bill being $150 per month.
The cost of dining out in Makawao is 55% higher than the national average, with the average cost of a meal at a mid-range restaurant being $25 per person.
Despite the higher cost of living, Makawao residents have a median household income of around $85,000, making it a desirable place to live for many.

Exploring Makawao’s Cost of Living: A Valuable Community Awaits

Makawao, a charming town on the island of Maui, is known for its rich cultural heritage, beautiful landscapes, and a thriving arts community. But what about its cost of living? Is it suitable for individuals, families, and retirees looking to relocate to this beautiful town? Let’s dive into the world of Makawao’s cost of living and discover the value it offers.

The cost of living in Makawao is often compared to other areas on Maui, such as Lahaina and Wailuku. However, it’s essential to understand that Makawao is a unique community with a more relaxed atmosphere and slower pace of life. Here are some key statistics that highlight the pros and cons of living in Makawao:

City	Median Home Price	Average Rent	Cost of Living Index (2022)
Makawao	$640,000	$2,500	148.2
Lahaina	$730,000	$3,000	164.8
Wailuku	$430,000	$1,800	134.6

As you can see, Makawao’s median home price is significantly lower compared to Lahaina and Wailuku. However, the cost of living index reveals that Makawao’s expenses, including groceries, utilities, and transportation, are also higher than in Wailuku.

Housing in Makawao

When it comes to housing in Makawao, there are both pros and cons to consider. Here are some points to ponder:

Type of Housing	Pros	Cons
Single-Family Homes	Affordable prices, beautiful views, spacious living areas	Limited availability, potential for high prices in popular neighborhoods
Condominiums	Low maintenance, secure, and accessible	Limited parking, possible noise from shared walls
Farm Properties	Affordable land, potential for income-generating crops	High maintenance, potential for zoning regulations and restrictions

Real Estate in Makawao
A reputable real estate agent like those at Hawaii Elite Real Estate, 808-866-6593 can provide valuable insights and resources to help you navigate the local market. Keep in mind that Makawao’s property prices have been increasing in recent years, making it essential to conduct thorough research and consider factors like resale value, financing options, and taxes before making a decision.

Transportation in Makawao

Transportation is an essential aspect to consider when evaluating Makawao’s cost of living. Here are some key points:

Transportation Mode	Pros	Cons
Personal Vehicles	Independence, flexibility, and ease of use	Higher fuel and maintenance costs, potential parking issues
Public Transportation	Affordable, convenient, and eco-friendly	Limited routes and frequencies, potential waits and transfers
Electric Bikes	Environmentally friendly, affordable, and convenient	Limited distance and range, potential safety concerns

Makawao has limited public transportation options, but bike-friendly roads and accessible bike lanes make commuting relatively easy. Electric bikes offer a convenient and eco-friendly alternative, but users should be aware of safety concerns and limited range.

Cost of Living Breakdown

Let’s break down some of the key expenses to help you understand the true cost of living in Makawao:

Category	Average Monthly Cost
Housing (as a percentage)	55-65% of income
Food	15-20% of income
Transportation	10-15% of income
Utilities	5-10% of income
Healthcare	5-10% of income
Recreation and Entertainment	10-15% of income

Frequently Asked Questions

Q: How is the cost of living in Makawao?
A: The cost of living in Makawao is generally considered to be lower than the national average. Housing prices tend to be more affordable in this area, and there are plenty of options for those looking to rent or buy a home, from apartments and condos to single-family homes.
Q: Is it expensive to live in Makawao?
A: Generally speaking, no. The cost of living in Makawao is generally lower than other areas in the country. While there may be variations in specific costs depending on individual needs and preferences, affordable housing is available and one can live comfortably without needing a luxurious lifestyle.
Q: Are there any downsides to living in Makawao?
A: There may be some trade-offs to consider when living in Makawao. For example, there are fewer shopping and dining options and the available amenities may not be as extensive as those available in larger cities. However, this is often offset by the unique charm and sense of community in a smaller town.
Q: How close is Makawao to other cities?
A: Makawao is located in the town of West Maui, near the coastline. It is a short drive away from other major cities, including Kahului and Lahaina, and there are transportation options available for those who need them.
Q: Is there a good public transportation system in Makawao?
A: Public transportation options in Makawao are limited, so owning a car may be necessary. However, some residents opt for carpooling or using rideshare services, making it easier to access other areas of the island.
Q: What is Makawao known for?
A: Makawao is known for its laid-back small-town feel, with a rich history and culture. This charming town offers a unique shopping and dining experience and for those who enjoy the outdoors, it is a great place for outdoor activities like hiking and mountain biking.
Q: Is the community in Makawao friendly?
A: Yes, the community in Makawao is friendly, with many neighborhoods in Makawao having close-knit communities. This makes it easier to meet new people, build connections and meet friends.
Q: What is the average cost of living in Makawao?
A: The average cost of living in Makawao is consistently less than in many other places in the United States. One can live a comfortable lifestyle while saving more each month.
Q: Are there other people in Makawao?
A: Yes, there is a diverse range of people living in Makawao, from families to couples to singles. It is a community where people from different walks of life live together.
Q: Are there a lot of people from different cultures in Makawao?
A: Yes, there are a lot of people from different cultures in Makawao, it is a melting pot and people from different walks of life live together, which makes it a culturally diverse town.
Q: Is Makawao a safe place to live?
A: Yes, Makawao is considered a safe place to live, it is statistically safer than many other places in the United States with a low crime rate.
Q: Is Makawao a good place to live?
A: Yes, it is a good place to live, the cost of living is lower, it has a friendly community and the cultural diversity.

Resources & Links

For Buyers & Sellers

As a seasoned real estate professional, I’d like to share my personal observations on the cost of living in Makawao, Maui, and its implications for home buyers and sellers.

**First-time homebuyers:** Makawao’s charm and laid-back atmosphere can be a major draw, but the cost of living in this small town can be a barrier for many first-time homebuyers. The median home price in Makawao has been steadily increasing, making it challenging for new buyers to enter the market. However, the community’s strong sense of belonging and proximity to outdoor activities like surfing, hiking, and horseback riding make it an attractive option for those willing to budget accordingly.

**Move-up buyers:** Homeowners who already own property in the area or are looking to upgrade may face stiff competition and higher prices. Makawao’s popularity has driven up property values, making it crucial for buyers to be prepared for higher home prices and potentially longer commutes to enjoy the town’s amenities.

**Sellers:** Makawao’s cost of living is both a blessing and a curse for sellers. The strong demand for properties in this picturesque town can drive up prices, making it an excellent time to sell. However, the limited housing stock and increased competition from buyers can make it challenging to find the right buyer at a price that meets sellers’ expectations.

**Community value:** Despite the challenges, Makawao’s cost of living is an excellent investment for those who prioritize community and lifestyle. This town’s unique blend of rural charm, outdoor recreation, and rich cultural heritage creates a sense of belonging that is hard to find elsewhere. For home buyers and sellers alike, the value in the community is undeniable.

**Key takeaways:**

1. **Budget accordingly:** Whether you’re buying or selling, it’s essential to have a realistic budget in place to navigate Makawao’s cost of living.
2. **Timing is everything:** Be prepared for a competitive market, and consider timing your move wisely to capitalize on market fluctuations.
3. **Community comes first:** For buyers and sellers alike, understanding what makes Makawao special – its strong sense of community, natural beauty, and cultural heritage – is crucial to making informed decisions.
4. **Investment over expense:** For those who prioritize lifestyle and community, the cost of living in Makawao can be a worthwhile investment, providing a unique and fulfilling life experience.