Would this budget work on Oahu?

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I had posted a previous thread (now appearently removed) regarding my dream of one day living in Hawaii (which is literally the PRIMARY reason that my wife and I became nurses). Some indicated that they didn't believe that it was feasible given our current economic situation. Hopefully, in five years we will have greater earning power than the $6500 combined after tax income that we now earn. However, I have prepaired a "sample" budget based only on our earnings today. Is this a REASONABLE budget given current costs of living in the state?

1. Rent $1400.00 (we need at least a two bedroom, but my wife would prefer a 3). We probably need to live within a 60 minute drive or bus time from Honolulu. I would literally be content with a hovel (I'm a disgusting pig by nature sad, but true), but she will want something a little nicer.

2. School $400 (our plan is to keep our student loans in perpetual deferral by basically taking online classes until we die). Currently this costs about $150.00 per month each.

3. Groceries $1200.00 (Currently, we spend a combined $2000.00 or so on groceries plus eating out, but the eating out will obviously have to go WAY down).

4. Car payments plus insurance $1000.00. We currently own an eight year old minivan with $300.00 per month payments and an old Toyota with about 330K miles but obviously we won't be able to bring those vehicles.

5. YMCA- $100.00 Currently, we spend $60.00

6. Utilities plus cable and internet $400.00 Currently, this number is about $800.00 but that's because our poorly insulated ranch house in the country costs about $400.00 per month on electric (space heaters) during the winter. Our cable/internet currently runs $120.00 combined.

7. Cell Phones- $200.00 Currently we spend $130.00, but our cell phone(s) are our home phones.

8. Gas- $800- We will probably own something like we do now which is an old minivan and an older fuel efficient compact like a Corolla or Honda.

9. Homeschool- $100.00 Currently, we use a program for our 8 year old that costs about that per month and is unlikely to change much.

10. Eating out/movies and stuff- $500.00- This is ALOT less than we currently spend, but that's the price of paradise. What am I forgetting and is this realistic.

11. Clothes et al $100.00- We maybe currently spend this much every SIX months, but we literally buy 80% of our clothes at Goodwill/Savation army type places and the rest at Wallmart/Scrubs places. That takes me to about $6200.00 or about $300.00 less than our current income. Realistic? Possible? Or am I forgetting a bunch of things?

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Wow! My husband and I live in a one bedroom with our toddler right outside of Waikiki, we have one car (used, no I did not ship it over) , cell phones, basic tv, we go to movies once a month or so, occasionally the baby goes to the sitter to help me remain sane. I have been running an online business for 8 years and just recently got my RN license reinstated. My income is limited at the moment.

He brings home $2600 a month and we usually have a little bit left over. I paid off my school loans last year from my business income, and we were also able to save up to buy a house for retirement (not in Hawaii).

I suppose it depends on what you spend your money on.. we don't have debt or loans but we also have a grocery bill of about $400/month and that includes an occasional dinner out. We are penny pinchers and pretty much live at the beach, which is free. We pay $1400 for a one bedroom that includes a parking space in a secured garage, also includes basic tv (we don't watch cable much), includes electricity, water, trash. It even included some furniture. It's a small place, maybe 500 sq ft but we love it here. My husband came from Malaysia 12 years ago speaking a few words of English and a little bit of money to get through college. I came over from bay area, and before that Arizona, with two suitcases, a small bank account balance.

We'd live like kings on $6500 :clown:

Not sure if that helps with your inquiry.

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1) plan on paying more than $1400 for a two bedroom..in fact you may want to plan a trip here to shop for places so you can get a realistic view of what $1400 will get you in Hawaii. Farther away from Hono 'could' be less expensive than but then you are driving more.

2) Can you sell the van? That sounds like an awful lot to pay for a car and insurance but it's been years since we've had car payments. We have a subaru forrester we paid about 5k for , it runs, and our insurance is dirt cheap.

3) If you are used to spending $1200 a month on groceries and going out, you will probably spend more here since the price of food is higher and if you go out to eat in any tourist areas, the food price is higher.

Where do you live now, can I ask?

I spent more money when I lived on the mainland too, out of boredom. Hawaii is a different way of life. I had no problem giving up large houses, yards, room for pets, tons of space for kids toys, and parking..but we surf

Not meaning to discourage..I think your present income is fine , it sounds like if you adjusted your spending it would work out for you.

But you may want to spend time here first before committing to a big move. Living in Hawaii is very different than visiting.

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Well one BIG expense that we currently pay is anywhere from $500.-800.00 per month for childcare! Opp's that kind of blows my Oahu budget off the map (we both work nights and when we have schedule conflicts where we both work it costs about $100.00 per night for a third shift babysitter). On the other hand my goal is to live there by 45 or five years from now and my then my son will be allmost 14, maybe I might even be able to find a job with a set schedule for a change so my wife and I wouldn't have conflicts! As for a van no doubt we will have to buy two different vehicles when we get there since the one's that we have would be to expensive to transport so I am estimating the "car payments' for two vehicles similar to the ones that we currently own.

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Your rent will be higher, guaranteed, a 2-bedroom in a decent neighborhood runs a lot higher than what you plan. I would put it at about 1800. The van thing is 'waaaa' - gas guzzler.

There's a mall here that your wife will go mad in, Newman Marcus. Nordstroms and so forth, she will most likely spend her salary there; let's see....... Food costs are pretty good, there's very little difference between those costs here and the mainland. Can I recommend a nice warm condominum - check out Century 21; it really does get chilly here, not all sunny skies and so forth. There are some really nice areas in the northern part of Oahu: Mililani Town,and further up north where the surfing you want is, but I don't know what kind of jobs there are out that way, unless you can find out if Straub has any clinics out that way.

Thekid has good advice: your family should visit and stay three weeks or so at the Hilton Hawaiin Village, currently offering reduced rates because of the economy - and scout out jobs and condo's. You can always upgrade your housing after a few years and wait and see how you like things before making a down payment on your house.

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My significant other does her most expensive shopping at Wallmart and usually the clothes that we purchase come from the DAV thrift store (about half the price of Good Will). I do believe that the visit idea is a must, but again I'm looking at a five year event horizon.

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what about travel nursing? If you were hired by an agency, you could do a 12 week contract here, make some contacts and possibly references..I'm not sure if travel nursing agencies will pay a housing stipend or not (maybe in five years?) but there are people here who are always subletting a room or an apartment. It depends on how badly you want it..would you share a house with someone else and work for 12 weeks to try it out? I really do believe, and support what the others are saying here, that you should test the waters before jumping. And it's MUCH easier to move here once you have contacts. I knew only two people but made good use of their hospitality, and they were able to show me around the island and get me comfortable by end of summer.

Another thing you should consider, different areas of the island are very ..well different from each other. Do you want to live where it rains more often, or where it's quieter, or more family environment? I stayed in Ewa Beach for a few months, LOVED it because I surfed at White Plains but missed Waikiki. Before purchasing a house you may want to lease in various areas to find out where you may be comfortable. Also..there are other islands. We lived on big island for a year due to a temp transfer for my husband's job. We rented a gorgeous 3 bedroom house on an acre, full garage, wood floor, ceiling fans, deck..the works...for $1100 a month (this is on Hilo side, Kona is more expensive). Hilo has a hospital and there are a few clinics..and I believe there is a small hospital in Kamuela ? or..what's up north? Rainy but pretty town..forgot the name. We loved big island and having a yard for our baby but we were happy to return to Oahu south shore.

That's the beauty though, such diversity.

Have you thought about what might happen if your wife hates it here? Or one of you decides you miss family? I believe a couple really has to be on the same page when it comes to not only living in Hawaii but moving here from the mainland. It was one of our vows when we got married , lol, that we won't leave Hawaii unless absolutely destitute (or for grad school but then we come back :)

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Thanks for the input. I had pretty much resigned myself to Oahu for several reasons. First, I felt it was the only island which offered a reasonable chance at a job. Second, although like the rest of Hawaii although it is expensive they at LEAST do have places like Wallmart/Sam's club (they may also have food pantries in Honolulu if things get real tight). As for family we basically have none other than our son ditto for friends and working nights/weekends we VERY seldom see those few friends that we have. If we can find travel assignements we will definitely try that route for sure!

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Have you even tried to price rentals in Honolulu or on Oahu? A 2-bedroom averages around $2k, but it does vary depending on location, the quality of the rental, etc. Studios can go for almost $1k, not including utilities.

The rest of your budget is much too low. Our gas is consistently among the most expensive in the nation. Utlities are also extremely expensive, and on top of that HECO just added a 14% rate hike! Groceries are also expensive. Basically, everything is expensive.

If you want to do some price comparison--compare Hawaii's cost of living with San Francisco or NYC. That will give you a more accurate estimate. If you and your spouse can't make it in those two cities, you definitely will have a hard time in Hawaii.

Do you two even have jobs? Who exactly is hiring around here? Hosptital jobs are difficult to come by, and the Local nurses have a monopoly on those. You might be able to do LTC--it seems most of the nurses are mainlanders anyway--but LTC definitely pays less.

Also, State and municipal cutbacks mean that RNs and LPNs who are "bumped" because they have less seniority will be competing for local jobs in the private sector, and they have an advantage because they have a local network of referrals that they can draw upon.

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Ceteris: you forgot to include the cost of "school". you know your whole half-time enrollment deal. Heaven-forbid you should actually have to pay back your loans.

lol

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For those who haven't read the other thread, the OP's long term financial plan is for him and his spouse to rack up a mountain of debt via Perkins loans and then avoid ever paying them back by remaining enrolled in school indefinitely.

Don't take his budget inquiries too seriously.

https://allnurses.com/hawaii-nurses/so-what-do-413097.html#post3785166

"Well we make decent money now with two nursing incomes. However, the problem is that we both have about 50K in school loan debt which we keep in deferment (basically forever) by taking at least six hours every semester online (with the plan being to die while in school eventually)."

"Well, I don't disagree with the paying off the debt (in fact I essentially have no debt save for the student loans and a mortgage) BUT I am also working on my BSN! Also, I plan to keep going to school until I have an family practice NP degree or CRNA degree. However, what's wrong with staying in school until I die? It only costs me about $1,500 per year to take enough online classes to keep the loans in deferral essentially forever. We do spend ALOT of money eating out and going to Kings Island, the zoo et al (maybe 2K per month). I have a hard time believing that we couldn't make on Oahu for the $6500.00 per month that we currently earn per month and that's without ever working even an hour of overtime after taxes if we cut way back on the eating out and went down to one vehicle (personally I prefer the bus/biking anyway, but currently we have to commute about 25 miles each way to our jobs way out in the boonies). By the way I wan't kidding "

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