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I've been interviewing with a company here in CA that allows me to work either at their LA office or remotely.
I've been wanting to work remotely so I can move to Maui. The only problem is that I would have to lower my salary substantially. They would be paying me 90k.
My question is: is this doable for a single person with no debt?
If I actually get the job and decide to take it, I would be selling my condo (which would probably be sold within the month since I live in one of the most desirable areas of LA). I'd probably be getting around 150k-200k back.
has anyone ever worked from Maui remotely? I do software development.
I would have to make sure I have a fast Internet connection. I'd probably rent for the first year to see how it goes and if everything is OK, maybe buy something. I'm thinking something in the 300s range.
Sharing some of my own experience searching for places on Oahu: Zillow has lots of rentals. HiCentral.com was great for Oahu not sure if they do Maui. Hotpads.com PadMapper.com are some other ones. And of course CL can be useful (be careful of scams).
Can always check AirBnB/VRBO/HomeAway if you need shorter terms since long-term rentals in these are expensive.
I'm not familiar with the local Maui companies that does rentals so others will need to chime in. Sometimes you can find great local companies the old fashion way to get good deals.
My advice is: search daily and call/follow up on units that looks good SOON AS POSSIBLE. At least in honolulu, good units get snatched up QUICK. And of course new units pop up frequently as well.
Depending on how much of a cut in salary it is to 90k, I may or may not want to move to Maui just for the "paradise lifestyle" but that's just me. Since taxes and the higher COL will eat up lot of that 90k.....
He's moving from CA
He won't be paying higher taxes
Not true: Income tax in Hawai‘i is higher pretty much across the board. Sales tax is lower, except wait, Hawai‘i doesn’t have a sales tax. We have a goods and services tax...so labor is taxed...and so is food. Property tax will be lower eventually, if the OP’s work at home arrangement allows him to file as a full time resident. And then it will take 2 or 3 years to qualify for the homeowner exemption. If the OP can’t eventually qualify, property tax should be a little lower in Hawai‘i, depending on the cost basis of his place in California. All this talk of homeowner’s exemptions is probably unnecessary because the OP said he’d rent for a year...and he’ll probably move somewhere cheaper at the end of the year. Don’t forget electricity, which is probably the highest is the industrialized world and gas (if you buy it at Costco, it’s only a little more than a California Chevron, and hey, it’s a small island).
Buy local food. It's cheaper. Anything that has to be shipped over there is of course going to cost. Like, for example, Trix cereal. Instead, buy a local brand. Same with eggs, bacon, etc. LOCAL brands.
Don't sell your condo yet. Rent it out, but keep it. If you decide Maui is not the place for you, you have a home to come home to.
I was looking in maui the other day (CL) and found quite a few that I wished I could get but being retired now and not wanting to move at this age...it was mostly just wishful thinking. Perhaps renting a room for a couple of months while you look for your own place?
Not true: Income tax in Hawai‘i is higher pretty much across the board. Sales tax is lower, except wait, Hawai‘i doesn’t have a sales tax. We have a goods and services tax...so labor is taxed...and so is food. Property tax will be lower eventually, if the OP’s work at home arrangement allows him to file as a full time resident. And then it will take 2 or 3 years to qualify for the homeowner exemption. If the OP can’t eventually qualify, property tax should be a little lower in Hawai‘i, depending on the cost basis of his place in California. All this talk of homeowner’s exemptions is probably unnecessary because the OP said he’d rent for a year...and he’ll probably move somewhere cheaper at the end of the year. Don’t forget electricity, which is probably the highest is the industrialized world and gas (if you buy it at Costco, it’s only a little more than a California Chevron, and hey, it’s a small island).
Wow. Essentially across the board massive misinformation.
Your take home will be higher in Hawaii
Regardless of GET, you'll pay lower day to day sales taxes
It doesn't take years for homeowners exemption- effective upon residency and that can be the day you land.
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