I am often asked “Where is the best place to stay in Hawaii?” In Honolulu, there are dozens of hotels; the vast majority of them are located in Waikiki. Your budget will determine your choices. Whether you are coming here for a long-term or short-term rental, will determine another set of Hawaii homes, hotels, or rooms to choose from.

If you are coming here for the first time, you’ll want to get a feel for the cost of living. Rentals for the Downtown area: 1 Bedrooms start at $1600, 2 BRs are $2000 and up. Near the University of Hawaii, they are about 1/4 less. Add utilities costs to those (roughly $200 for cable, internet, electricity). Parking varies considerably. Email me if you need a list of rentals. I don’t charge or make anything from them or handle any rentals. Tip: keep a rental application handy (send me a request and I will send you one). I would fill it out before you arrive.

6 months expenses. That can range from $1500/month (no car, living with roommates, not much going out), to as much as you want to spend. In your own apartment, with a car, and able to eat out 2-3x/week - $2500 minimum, $3500 would be a lot nicer (large one bedroom for $1500-$1700/month) + car than runs ($500/month) + food and other stuff. I would say $20,000 and you could not work for 4-5 months.

On a fixed budget? Most likely you will want a roommate, so they can also sign a lease with you. Be sure to keep your personal references handy from wherever you are now. You’ll need a deposit equal to one month’s rent, + 1 month’s rent in advance. You also want to have a good list of professional references from work. Your present supervisor and/or manager and the new one as well.

Also check Craigslist Hawaii. Be careful, there are some ding dongs on Craigslist. I can check them out if you like. Personally I would try rent a room in Kahala, Waialae Iki, Hawaii Loa, Wailupe or Aina Haina. They aren’t too hard to find, and your credit won’t be as big an issue as getting an entire apartment.

OK, now for the juicy stuff. Vacation rentals. VRBO is by far the best place to check if you are renting a place for 3 months or less. The best approach is to send emails out to a half dozen places and see what kind of replies you get. Prices are negotiable. Many of these are in hotels too, so look around.

Waikiki Beach Near Hotels

Silverman - Kalakaua - Waikiki Beach

Interested in really living it up? Here’s the A list:
Fairmont Orchid – the Big Island
Four Seasons Hualalai - Kona Coast - The Big Island
Halekulani - Waikiki. Their restaurants are top notch. Select from the elegant La Mer (Hawaii’s only Five-Diamond Restaurant), Orchids for casual elegance or House Without A Key for relaxed resort dining until sunset.
Hotel Hana Maui
The Four Seasons at Wailea - Maui (lava stone massage)
The Kahala - get the Kona coffee and coconut-vanilla slimming wrap
Mauni Lani Resort
Do your homework and look for specials and internet deals. Same for cars and tours.

Tags: beach, big island, downtown, Hawaii, homes, Honolulu, hotel, Kahala, maui, university, vacation, Waikiki

Maybe you’re thinking of buying your first home in Hawaii, or perhaps you’re relocating to Hawaii from another state. Either way, it’s important that you educate yourself on Hawaii before shopping for a home and mortgage. Here are some things you will need to know before buying a home in Hawaii:

The first item to consider is that Hawaii homes for sale are much more expensive than the national average. The median price of a home in Hawaii (PDF) is $624,000. It appears to have peaked in the $650,000 range, with Maui peaking (and plummeting) even higher (and fluctuating more). Homes in Hawaii doubled in price over the last 5 years. In hindsight, everyone sees that they appreciated at rates so high that they were unsustainable at those rates. As a result, income levels in many parts of Hawaii are too low to purchase a median-priced home with a conventional loan. This ratio, of the median sales price to median household income is known as the housing affordability index. In fact, it’s a tradition for homeowners in most Hawaii cities to purchase homes large enough to house several generations of their family members.

Homes in Hawaii

The good news is that average interest rates in Hawaii in line with the national average, due to stricter lending standards and a relatively stable economy. Freddie Mac increased “super conforming” limits to over $700,000. Conventional loan amounts in Hawaii are higher than anywhere else in the nation.