It's nice to be writing again and sharing Maui No Ka Oi,
Since I have been so very focused on Real Estate in the last few years, RE seems like a good subject to ponder and share today.
I've been working with people downsizing, investing ,buying their first home, wanting to build a home and retiring on Maui. Some of my long time friends are moving closer into town as they age, and the younger ones are moving further out into the country to build and grow their dreams. The cycle of life continues, and it's so evident to me now as my Baby Boomer friends are pondering their next move.
I came across something interesting today regarding retiring in Hawaii, and most especially on Maui. I want to share the information from the Maui Now news site.
"Six Maui Towns in State’s Top 10 for Retirement Ease"
According to a recent study from SmartAsset, Kahului, Wailuku, Kīhei, Makawao, Lahaina and Kula take the top six spots in the ranking of the state’s 10 tax-friendliest places for retirees in Hawai‘i.
The study from the New York-based financial technology company ranks cities on a Retirement Tax Friendliness Index, which takes into account property, income, fuel, sales and Social Security tax data.
The following cities and town in Hawai‘i lead the state in retirement tax friendliness.
City, Income Tax, Property Tax, Sales Tax, Fuel Tax, Social Security Taxed?
Retirement Tax Friendliness Index
1.Kahului, Maui$7,082. 2% $601 $165 No43.93
2.Wailuku, Maui$7,082. 2% $601 $186 No43.06
.3Kīhei, Maui$7,082. 2% $601 $199 No42.76
4.Makawao, Maui$7,082. 2% $601 $200 No42.70
5.Lahaina, Maui$7,082. 2% $601 $206 No42.58
6.Kula, Maui$7,082. 2% $601 $204 No42.52
7.Laie, O‘ahu$7,082. 3% $676 $95 No42.37
8.Hilo, Hawai‘i Island$7,082. 3% $601$ 181 No42.31
9.Līhuʻe, Kaua‘i$7,0820. 2% $601 $198 No42.25
10.Wai‘anae, O‘ahu$7,0820. 2% $676 $142 No41.95
Find more details on the study results and methodology, and an interactive maponline. "
Retirement is on the mind for many.. I have a few friends who have opted for the condo life for half the year and mainland touring or living for the rest of the year. Condos in Wailea seem to be the most attractive to this lifestyle with shopping, dining, beautiful weather and easy ocean access.
Transitions seems to be the order of the day.