Average Savings Needed to Move to Oahu

[GretchenMarie]

Hello everyone,
My husband and I along with our 2 year old are moving to Honolulu in about 1 year. I was wondering if other members of this forum had a good estimate of how much money should be saved before moving to the Island. I appreciate any input.

Gretchen

[stelafever92708]

I was told my a member to save 3 months worth of expenses. I think that is a great estimate. Of course, the more the better! Good luck in your move. Be safe and bless you all!

[eleakai]

Aloha Gretchen and welcome to our forum. Yes, 3 months worth of expenses in a savings account is a good idea especially if you don't already have a job waiting for you. I don't know how much money you will need per month. It depends on a variety of factors, for example the neighborhood where you intend to live, if you will need a car, if you need a one- or two-bedroom apartment, if you need child care services, etc. Costs for food can easily be over $1,000 for a family of three. Rent for a small one-bedroom will be at least $1,200-1,500 and for a two-bedroom $1,500+. If you both plan to work, you'll need to sign up for daycare, which is usually at least $700/month for toddlers. As a rough estimate, I would have at least $12,000 saved before you move. But this is a really low figure because things easily add up in Hawaii.

[GretchenMarie]

(01-05-2014 10:48 PM)eleakai Wrote:  Aloha Gretchen and welcome to our forum. Yes, 3 months worth of expenses in a savings account is a good idea especially if you don't already have a job waiting for you. I don't know how much money you will need per month. It depends on a variety of factors, for example the neighborhood where you intend to live, if you will need a car, if you need a one- or two-bedroom apartment, if you need child care services, etc. Costs for food can easily be over $1,000 for a family of three. Rent for a small one-bedroom will be at least $1,200-1,500 and for a two-bedroom $1,500+. If you both plan to work, you'll need to sign up for daycare, which is usually at least $700/month for toddlers. As a rough estimate, I would have at least $12,000 saved before you move. But this is a really low figure because things easily add up in Hawaii.

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Thanks for your input I appreciate it.