---
title: "If You Can Make It in Hawaii, You Can Make It Anywhere"
url: https://stacklist.com/card/a9623519-0f21-437a-aeb4-6799643bda34
source_url: "https://www.financialsamurai.com/if-you-can-make-it-in-hawaii-you-can-make-it-anywhere/"
stack: https://stacklist.com/c/travel/stack/7e919adf-8b49-4d97-8434-93bbb95ddc16
summary: "The author reflects on the challenges and rewards of building wealth in expensive cities like New York and San Francisco, drawing parallels to Hawaii's high cost of living and lower wages. Despite loving Hawaii and planning to retire there, the author acknowledges the difficulty of maintaining financial ambition while embracing the slower, aloha lifestyle that Hawaii demands."
tags: "hawaii, financial-independence, relocation, cost-of-living, career-transition, lifestyle"
key_entities: "Hawaii (location), Honolulu (location), San Francisco (location), New York City (location), Oahu (location), Goldman Sachs (organization), Financial Samurai (organization), Joe Biden (person), financial-independence (concept), aloha-lifestyle (concept)"
classification: "analysis"
content_hash: "sha256:48011a245ae704f0d0e22c345d36c11e7c32a2d47e21016a666ff56104d867cf"
acp_version: "0.2"
token_counts_approximate: 5225
visibility: public
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status: "final"
---

# If You Can Make It in Hawaii, You Can Make It Anywhere

If you can make it in Hawaii, you can make it anywhere. Hawaii is one of the best places to live, but it's expensive and the pay is low. The median home price in Honolulu, for example, is roughly $700,000 in 2025. Honolulu is my preferred destination, but it is expensive. But at least it's cheaper than San Francisco, where I currently live! My grandparents came to Hawaii in 1906. My father is Chinese Hawaiian and I've been going back to Oahu for 46 years. I love Hawaii and plan to relocate my family back to Hawaii once both my children are over age 6. As a resident of San Francisco since 2001, it's been a good run. I've made enough money to achieve financial independence. However, leaving San Francisco now in the middle of the artificial intelligence boom is hard given so many fortunes will be made. But I promise to make it back to Hawaii and retire in Hawaii in my 50s and beyond. However, living in Hawaii can be hard if you don't adopt the slower-pace, aloha lifestyle. Borrowing A Phrase From Living In New York Making it in Hawaii is a play on an old saying, “ If you can make it in New York, you can make it anywhere. ” The idea is that with New York City being so competitive, only the strongest survive. I worked on the trading floor at one of the most hardcore investment banks around and I can unequivocally tell you that making it in NYC is brutal. The weather beats you up for at least six months a year, the work hours are long, and your money doesn't go very far . Two years and 15 pounds heavier I left NYC in 2001 for an easier life out in San Francisco where I didn't know a soul. I thoroughly admit I didn't make it in NYC. Perhaps I could have stayed on as a third year financial analyst, but surely Goldman would have made me go back to business school afterward rather than promote me directly to Associate. The thought of returning to school at the time and spending all that money wasn't appealing. By spring 2001 it was clear the economy was not in good shape one year after the NASDAQ collapsed. I decided to take matters into my own hands and jump to a competitor for that Associate promotion and raise instead. Waiting to get let go is like waiting to die. The “Difficult” Hawaiian Life I've been coming back to Hawaii for over 45 years because that's where half the side of my family is from. Ever since college graduation in 1999, Oahu has been tempting me to hurry up and quit the stressful finance life so I can kick back on the beach and live off mother nature. Every year I resisted because I knew that once I moved to Hawaii, there was no going back. I wanted to make as much money as possible in New York City and San Francisco and then relocate back once I was burned out. Frankly, I'm getting really close after working non-stop since 1999 in banking or with my online website, Financial Samurai. During Joe Biden's presidency, I plan to re-retire and move back to Hawaii . The pandemic has really just zapped away all my energy as a father of two stay at home kids. With taxes going up and the stepped-up basis potentially going away, it's time to take it easier post-pandemic. But I have some concerns. Concerns About Living In Hawaii I noticed several childhood friends attend the University of Hawaii and never leave. They'd find stable jobs as accountants, dentists, telecom operators, realtors, car salesmen, and public servants making a healthy $35,000 – $90,000 a year. Instead of living on their own, they'd continue living with their parents, saving lots of money in the process to one day buy a place if they ever meet someone special. Family ( Ohana ) is the foundation of Hawaiian culture and having three generations live under one household is not uncommon. Even at our weekly Friday night poker game, a grandma comes to wipe us out ever single time. Unfortunately, the pay in Hawaii is 30% – 70% lower than the pay for similar jobs on the mainland. As a result, many generations shack up under one roof giving housing expenses are high. How To Make A Living In Hawaii Here are the main potential ways to make a living in Hawaii: Tourism Industry: Hawaii is a major tourist destination, and jobs in the tourism sector are plentiful. Opportunities range from working in hotels, resorts, restaurants, tour companies, and more. Hospitality and Service Sector: With a growing population and tourism, there's a demand for services. Jobs in retail, customer service, and hospitality are common. Healthcare Professions: The healthcare industry is often in demand, and Hawaii is no exception. Nursing, medical practitioners, and other healthcare-related jobs are needed. Education: If you have the necessary qualifications, you could explore opportunities in education. Teaching positions in schools or colleges are available. Technology and Remote Work: With the rise of remote work, especially in technology-related fields, you might find opportunities to work for mainland or international companies while living in Hawaii. Local Agriculture: Agriculture and farming businesses are vital in Hawaii. You might consider working in or starting a business related to local produce or other agricultural products. Real Estate: Real estate, including property management or real estate sales, can be a lucrative field, especially given the demand for housing. Creative Arts and Culture: If you have skills in art, music, dance, or other creative pursuits, you might find opportunities in Hawaii's vibrant cultural scene. Environmental and Conservation Work: Given Hawaii's unique ecosystems, there are opportunities for work in environmental conservation and sustainability. Entrepreneurship: Starting your own business can be a fulfilling option. Whether it's a local restaurant, a small shop, or an online venture, entrepreneurship allows you to create your own path. How I'd Make Money In Hawaii If I were to go back to Honolulu, I would work on my online business with Financial Samurai. I can make money online from anywhere , so that's convenient. I'd also probably become a real estate agent because I love real estate, my favorite asset class to build wealth . I speak Mandarin so maybe I could focus on selling real estate to foreigners from China and other Chinese-speaking countries. The tourism industry is back to full force now that COVID is long over. Although the Yen is weak, the Japanese have returned to Hawaii, and so have the Chinese. I'd probably also brush up on my Japanese and work as a scuba diving instructor. What a great way to make money in Hawaii by doing something fun. Can Always Return To Hawaii In the back of my mind I always knew Oahu would forever be waiting for me. As a result, I didn't want to permanently return until I could thoroughly see what I could do on my own on the mainland or in a foreign country. But the problem I have is, my parents won't live forever, and I want to spend more time with them before they go. If your first car is a Ferrari, your car driving experience is ruined for the rest of your life. Besides, the speed limit on the H-1 highway is only 50 mph! That's when you know you've literally got to slow down for island living. I wanted my first car to be a beater with electrical gremlins and funny screeching sounds so I decided to start my career on the East Coast and gradually move my way West as my energy for work faded. The hope was that by the time I could move back to Hawaii, my finances would make up for my lost enthusiasm to be somebody's whipping boy. Motivation To Become Financially Independent Is Hard When it costs nothing to surf or hike, it's really hard to get motivated to make a lot of money. As a local, you get Kama'aiana rates which gives you further discounts on hotels, services, and golf rates. There are loads of parks all around the islands where you can play tennis, soccer, and basketball for free. Best of all, every beach is open to the public, even the ones with multi-million dollar mansions behind them . There is a strong feeling that everyone in Hawaii is on vacation because of the large tourism industry that dominates the economy. If every other person you meet is from Japan, Europe, or the mainland hanging loose for a week or two, you're going to feel mighty compelled to also get into vacation mode. Hawaii Feels Like A Permanent Vacation You start thinking, If they are enjoying life on vacation, why can't I? Hawaii's biggest import product is other people's leisure! When it's 70-88 degrees every single day, it's hard to motivate yourself to work inside a cubicle for 8+ hours for a better life when a better life is waiting for you right outside. There's no point saving for retirement! New York City's grey skies, muggy summers, and frigid winters made it EASY for me to work 14 hour days at 1 New York Plaza. We had computers, free internet, a small shopping arcade, a gym, and free food. What more do you need? Saving money and working like a dog came naturally on the East Coast because all I could think about during the winter was buying a plane ticket to somewhere warm and never working another day again. Related post: The Pros And Cons Of Living In Hawaii Hawaii Makes You Easily Satisfied With Life I remember vomiting junior year of high school after an intense training session in track. My teammates and I were practicing for the 4X200 meter relay for Districts and we pushed ourselves to the max because we were never satisfied. As I was barfing my lungs out my coach told me, “That a boy. You haven't really tried your hardest until you start vomiting all over the place!” She sounded cruel at the time, especially since she was extremely out of shape. But I took her words to heart and aimed to vomit all over her shoes every single day! Related: The Cost To Prove Your Identity And Heritage: Hawaiian Edition Less Desire To Grind For More Money Major cities in the mainland propel you to want more, more, more. There's never an end to the amount of money you can make in New York City or the number of startups you want to kill yourself over in San Francisco. Hawaii gives you the entirely opposite effect of making you slowdown and appreciate all that you have. I knew if I returned to Hawaii early I'd be absolutely satisfied with a $50,000 a year job working 9-5. Of course there's nothing wrong with a $50K a year job and regular work hours, I just wanted to test my limits . The only way I could thoroughly enjoy Hawaii was to make my fortune elsewhere and come back without having the need to work 40+ hours a week. The temptation to slack off would be just too great. I'm keenly aware that locals hate it when non-locals go away and come back to the island with their flashy cars and fancy homes, making things more expensive in the process. This is why I'm happy to just live in an old home I've been coming back to since I was a kid and drive an old car. It's all about rolling in a hatchback or old truck to blend in . Hawaii Is Expensive Once You're On Your Own The median home price is about $780,000 in Honolulu according to online estimates in 2024. Based on my conservative 30/30/3 rule of home buying , this means you need to make roughly $260,000 a year (house max price is 3X annual salary) and have $234,000 on hand in cash (30% of house in cash for 20% downpayment and 10% cash buffer) to be able to buy a home. To get a home in a desirable area, you probably have to spend at least $1,000,000 nowadays. With the median household income of around $85,000, Honolulu households are making good money compared to the national median of $76,000. But when the median house is 9X the median salary, the income isn't that great if you're looking to buy. So how does the typical Hawaiian buy a median priced home? The answer is with a lot of help from family. Multiple Generations Living Under One Roof Is Common The majority of my Hawaiian friends end up living at home with their parents after college until marriage. As a result, decent sized nest eggs should grow over a five-to-eight year period when the children typically tend to move out to start their own family. But even with $50,000 – $70,000 saved up during this time period, that's still short of the $115,000 downpayment on a median $575,000 house. In every case I know their parents pitch in to cover the rest of the downpayment or more. Given the finances, most households will stretch to buy a home equal to 5X their household income. However, that still means earning a $200,000 median household income if you want to now buy the median $780,000 home. If you want to retire in Hawaii or Honolulu, specifically, it is probably better to retire rich there. However, given the beaches and parks are all free, maybe not. So long as you have your living and food taken care of, life should be wonderful. Stories From Friends About Living In Hawaii To corroborate my anecdotes, I sat down for lunch with a Prudential partner one day. He mentioned at least 50% of his friends before they were 30 lived with their parents. 25% of his friends still live with their parents over 30. In other words, generational wealth plays a huge part in the home buying process. For real estate investors out there, the partner sees houses on the Waialae Nue Ridge as good relative value. Food And Gas Are Expensive Gas prices are on the high end at $4.70 for normal, $4.80 for premium, and $5 for super. But food prices is what really stings. Because over 80% of the food consumed in Hawaii is imported, prices are regularly 10-30% higher than the mainland. You may want to change your diet to something more locally oriented. Example includes eating papayas, mangos, poke, laulau, and poi to save money. If you come to Hawaii from foodie havens such as New York City or San Francisco, you may be disappointed with the cuisine. It would be one thing if the comparable cuisines were the same price. But if food costs 10-30% more than the mainland, your expectations are for 10-30% tastier food. When you don't get that, it's disappointing. The main cuisines revolve around Korean BBQ, Chinese, Japanese, Hawaiian, and fast food. It's the same five things over and over again. If any entrepreneur wants to open up an incredible Mexican or Malaysian restaurant , the opportunity is wide open. Some good restaurant choices in Honolulu include: Ono's, Salt, Yakiniku Camelia, Doraku, Morimoto's, and Uncle Bo's. Due to high living costs, Hawaii makes it much harder to leave your parents as an adult. If you become overly dependent on your parents then it becomes very difficult to stretch to do other things because you're already stretching to survive. Hawaii Life Will Test Your Resolve Everywhere you go in Honolulu, the city is booming with people. Tourists are flocking back to the islands in droves now that world economies are back. Even with all the tech, internet, and artificial intelligence fever in San Francisco, San Francisco sometimes doesn't feel as busy. To give you an example of how strong the economy is, pre-pandemic, we hosted a team building offsite at The Kahala Hotel & Resort during off peak season in November and the standard rooms with only partial views were going for $600 a night! Post-pandemic, the hotel prices are 20% more expensive. The hotels in Waikiki were also packed with average room rates of over $250 a night. The Kahala Hotel & Resort is my favorite resort in Oahu due to its location and very tranquil setting (top picture). I just can't afford to stay there for very long! Shout out to Shane Lani, the manager from the Seaside Grill for taking care of us for lunch. The service is always fantastic. A booming economy does make doing business theoretically easier due to higher demand. But Hawaii is still tiny compared to the immediate publicity you might get from starting a business in New York City with 10X the population. Just open a BBQ joint and you could easily see lines around the block if it gets profiled by a major food blog like Eater. If you want to start a tech company in San Francisco, you've got unlimited resources to do so. Enjoy A Better Life In Hawaii Hawaii is a magical place that promises to make you happier. The people are friendly if you respect the culture. There is also a tremendous amount of diversity. Diversity is great if you hate racism, bigotry, and all types of other hate that's going on the world. Most importantly, the life expectancy in Hawaii is the highest in the country! Hence, if you value living longer, living in Hawaii makes sense. Its state policies and social influences are conducive to a longer life. But be careful. Hawaii might make you soft . If you can avoid the temptation of good weather, amazing scenery, and pristine beaches to focus on your career and earn enough to afford a house on your own, you can make it anywhere. All the glory goes to someone who doesn't succumb to temptation when temptation is all around! Family Life In Hawaii Is Great As a father now, I do find the massive appeal of relocating to Hawaii. The family culture in Honolulu is one of the best. Hawaii has one of the highest kids per capita in the entire country. If we can get our kids into one of the great private schools like Punahou or I'olani , that would be fantastic too. I just fear that once my kids know what paradise is like, they won't have motivation to go anywhere else or do much of anything again. It is the hardship that I experienced as minority growing up in Virginia that helped make me the gritty person that I am today. Finally, I do want to say that retiring in Hawaii is a good idea. If you are seriously OK with no longer climbing the corporate ladder Hawaii could be the ideal place for you! Wealth-Building Recommendations In order to optimize your finances, you’ve first got to track your finances. I recommend signing up for Empower’s free financial tools so you can track your net worth, analyze your investment portfolios for excessive fees, and run your financials through their fantastic Retirement Planning Calculator. Those who are on top of their finances build much greater wealth longer term than those who don’t. I’ve used Empower since 2012. It’s the best free financial app out there to manage your money. Are you on the right retirement path? There is no rewind button. If you have over $100,000 in investable assets—whether in savings, taxable accounts, 401(k)s, or IRAs—you can get a  free financial check-up  from an Empower financial professional by  signing up here . It’s a no-obligation way to have a seasoned expert, who builds and analyzes portfolios for a living, review your finances.  A fresh set of eyes could uncover hidden fees, inefficient allocations, or opportunities to optimize—giving you greater clarity and confidence in your financial plan. I took advantage of their free financial review and Empower helped me realize I was too conservative . As a result, I plan to worry less and spend more. Invest In Venture Capital The Easy Way Did you know the richest people in Hawaii are mostly entrepreneurs or their heirs? Taking a leap of faith to become an entrepreneur is hard though. Instead, you may want to keep your day job and invest in private growth businesses. This way, you get to have brilliant entrepreneurs work for you. Or you can do both! I certainly am. Companies are staying private for longer, as a result, more gains are accruing to private company investors. Finding the next Google or Apple before going public can be a life-changing investment. But that's hard to do without already having a lot of capital, the right connections, and a lot of luck.  Fortunately, there is Fundrise Venture , which makes it easy to invest in tomorrow's great tech companies today. Plus, you can get started with as little as $10. Fundrise Venture nvests in the following five sectors: Artificial Intelligence & Machine Learning Modern Data Infrastructure Development Operations (DevOps) Financial Technology (FinTech) Real Estate & Property Technology (PropTech) Artificial Intelligence Is The Future Roughly 65% Fundrise venture is invested in artificial intelligence, which I'm extremely bullish about. In 20 years, I don't want my kids wondering why I didn't invest in AI or work in AI! Most venture capital funds have a $250,000+ minimum, which is why Fundrise's low $10 minimum is groundbreaking. You can also see what the venture product is holding before deciding to invest. Personally, I've invested over $250,000 in Fundrise venture so far and plan to continue to invest over time. Fundrise is also a long-time sponsor of Financial Samurai. 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