Study: Waihe‘e-Waiehu is Most Affordable Place to Live in Hawai‘i
A new study from financial technology company, SmartAsset, ranks the Waiheʻe-Waiehu area of Maui as the most affordable place to live in Hawaiʻi.
Communities were ranked on an Affordability Index weighing property taxes, homeowners’ insurance fees and mortgage payments relative to income.
In Waiheʻe-Waiehu, average closing costs were $3,900, annual property tax was $700, annual homeowners insurance was $796 and annual mortgage payments were $19,056. Median income for the area, meantime, was around $89,457.
The Waiheʻe-Waiehu area was the only Maui location on the list and was followed by (2) Nānākuli, (3) Hawaiian Beaches, (4) Waikele, (5) Hawaiian Paradise Park and (6) Kapolei. Others making the list were (7) ʻEwa Gentry, (8) Waimalu, (9) ʻEwa Beach and (10) West Loch Estate.
The findings are part of the company’s fifth annual study on the Most Affordable Places to live in America.