Nestled on the northeastern coast of Kauai: A Comprehensive Guide to the Cost of Living in Wailua

Cost of living in Wailua: A smart investment in paradise

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Table of Contents

• Quick Facts
• Cost of Living in Wailua
• Overview of Wailua
• Median Home Price in Wailua
• Cost of Living Details
• Taxes in Wailua
• Quality of Life in Wailua
• Frequently Asked Questions
• Resources & Links
• For Buyers & Sellers

Quick Facts

• The cost of living in Wailua, Hawaii is relatively high compared to the national average.
• Home prices in Wailua include single-family homes and land purchases, with prices typically ranging from $400,000 to $2 million.
• The median house rental price in Wailua is around $2,500 per month.
• Food and groceries in Wailua are comparable to other states in the US, with prices ranging from $50 to $100 per gallon for gasoline.
• Utilities, such as electricity and water, can be expensive in Wailua due to the island’s electricity generators’ reliance on diesel fuel.
• Professional services, such as lawyers and accountants, in Wailua are plentiful but not cheap, with prices ranging from $1,000 to $5,000 per hour.
• Gasoline prices in Wailua are generally lower compared to mainland US states, especially considering the diesel needs of the electricity generators.
• The cost of healthcare in Wailua is relatively high, with insurance costs ranging from $500 to $2,000 per month for individual coverage.
• Maintenance and repair services for homes and businesses in Wailua, including property taxes and insurance, can be costly due to local regulations and building codes.
• Taxes in Wailua, Hawaii include state income taxes ranging from 4.85% to 8.4%, as well as state sales taxes ranging from 4% to 5%.

Cost of Living in Wailua: A Smart Investment in Paradise

Wailua, a charming town on the eastern coast of Kauai, is known for its breathtaking natural beauty, tranquil atmosphere, and diverse outdoor activities. For those seeking a tranquil retreat or a place to invest in real estate, Wailua presents a unique opportunity. But what’s it like to live in Wailua, and what’s the cost of living like in this stunning island paradise?

Overview of Wailua

Wailua is a 12-mile-long valley surrounded by the Wailua River and the Pacific Ocean. The town is situated in the heart of Kauai’s lush valleys and is home to a diverse community of long-term residents, tourists, and entrepreneurs.

Median Home Price in Wailua

The median home price in Wailua is around $850,000, according to recent listings on Hawaii Elite Real Estate’s website. Here’s a breakdown of the median home prices in Wailua:

Cost of Living Details

The cost of living in Wailua is relatively high compared to other parts of Kauai, but it’s still more affordable than in other popular beach destinations in Hawaii. Here are some examples of typical costs in Wailua:

Taxes in Wailua

Taxes in Wailua are similar to those in other parts of Hawaii, with a general property tax rate of 0.85%. However, the island of Kauai has a higher overall tax burden compared to the US average.

Quality of Life in Wailua

Wailua offers a range of activities and attractions that cater to various interests. Here are some of the best things to do in Wailua:

Frequently Asked Questions:

Q: How expensive is Wailua, Hawaii?

A: Wailua is generally less expensive than other Hawaiian islands, with a lower cost of living compared to Oahu and Maui.

Q: Housing costs in Wailua.

A: The cost of housing in Wailua varies depending on location and type of property. Rent: $1,800 – $3,000 per month for a 2-bedroom apartment. Buying: $400,000 – $800,000 for a single-family home.

Q: Food prices in Wailua.

A: Grocery prices are similar to other islands, with some items being more expensive due to transportation costs. Eating out: $15 – $30 per meal.

Q: Transportation costs in Wailua.

A: Gas prices are similar to other islands. Public transportation is limited, so owning a vehicle is recommended. Car rental: $40 – $80 per day.

Q: Utilities and transportation costs for residents.

A: Basic utilities (electricity, water, gas, internet): $200 – $500 per month. Public transportation for seniors and disabled: $2 per ride, monthly pass: $60.

Q: Additional living expenses such as medical and entertainment costs.

A: These costs can add up quickly, consider the following: Medical: 10% – 20% higher than the national average. Entertainment (dining out, movies, etc.): $500 – $1000 per month.

Q: Buying a car in Hawaii.

A: Sales tax of 4.5%, registration fees of $70 – $150. Insurance: $150 – $300 per month.

Q: Overall quality of life and how is Wailua compared to other Hawaiian islands.

A: Wailua offers a more laid-back lifestyle and lower cost of living. Friendly community, natural beauty, and outdoor recreational opportunities.

Resources & Links

• Wailua Home Values by Zillow
• Wailua Real Estate Trends by Realtor.com
• Wailua Cost of Living by BestPlaces
• Wailua Real Estate Market Trends by NeighborhoodScout
• Wailua Cost of Living Calculator by Payscale

For Buyers & Sellers

As a potential real estate investor in Wailua, I’ve observed the significant effects of the cost of living in this beautiful, often overlooked Pacific Island paradise. By being aware of the nuances and challenges of living in Wailua, home buyers and sellers can make informed decisions about their investment, taking into account the rewards and drawbacks.

Home Buyers:

• Wailua offers an affordable return on investment, with median home prices around $550,000 to $650,000, significantly lower than much of the Hawaiian mainland.
• The diverse range of tropical and subtropical species may attract environmentally conscious buyers looking for a more sustainable living space.
• Home prices are controlled by a relatively low cost of living, making it an attractive option for first-time buyers or those on a limited budget.
• Luxury amenities, such as private beaches, water parks, or lush gardens, can command a premium price, but they are not as common as in larger, more affluent cities.
• Buy-to-rent strategies require careful consideration as the short-term rental market thrives in some areas, including Opaeka’a, Wailua, and Ho’omalihana.

Sellers:

• In a hot market like Wailua, sales are often influenced by factors beyond property pricing, such as the presence of Hawaiian characters, exotic flora and fauna, or boutique condominium activities.
• Appreciation potential for Wailua’s unique setting and authentic experiences may be above national averages, making Wailua become an attractive investment property in harmony with a growing market trend.
• Access to luxury areas like Ocean Ridge may lead to increased property values when Wailua tends to spike.

While providing investment opportunities, Wailua still attracts a specific set of potential residents. However, understanding these market challenges, as well as the unique characteristics of Wailua, will help to create informed investment decisions that meet the diversity of lifestyles.

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