The sound of overlapping waves and the cool breeze coming from the ocean may seem like the best way to spend your retirement days, but living such a dreamy life in the Aloha State may be more than you bargained for.
It has earned a reputation as a major tourist destination, which means it demands an extremely high cost of living. In all 50 states, Hawaii has the most expensive median home rent pegged at $2,975 a month. That is three times more expensive than the national average. Moreover, while social security benefits and most pensions are exempt from income taxes assessed by the state, Hawaii has a huge income tax range of 11%, which is the second highest among all states.