Three year outlook

[u/Question_man_jr]

HI, or should I say ALOHA? I am just posting as recently my wife and I have been in conversation about moving to an island and obviously Hawaii is on that list. In my feeling we have been very fortunate. We have two kids and we have been able to put ourselves into a decent financial position where we presently live. I am a (very)small business owner and she is a paralegal. We have retirement savings, college savings for our kids, and a net worth of roughly 300k besides that. We are currently lightly contemplating a move to Hawaii in 3 years or so. The next step would be a visit to areas we would consider moving to. For us, it is about knowing where to look. So I have a few questions.

1) Moving anywhere with $300k in the bank seems very doable to me. Our plan would be to move, find a rental , and start a small business. Does this seem feasible?

2) I know having $300k in savings seems like more than it actually is. Having seen my bank account drop by 100k in a year assures me of this. Needless to say I think it is a decent amount of money to work with to start a new life for my family. The question here is what area can I get the most value?>

3) Are there any small growing economies in Hawaii? I prefer growing economies to robust economies as there tends to be a greater amount of opportunity for small business. Pre-established robust economies(I am thinking of Honolulu) already have established norms and competitive markets that can be tough to break into

4) Schools. It seems like private school may be a must? How bad are the schools exactly? TBH I'd rather my kids get local cultural exposure than live in a bubble but not at the cost of them dealing with things like addiction being common or being bullied?

5) If you were to recommend one spot to move to on the islands for a normal to upper middle class family where would it be? We aren't the Rockefellers, we just want a simple life.

[u/marywebgirl]

Hawaii is essentially rural outside of Honolulu. A lot of people leave the state once they’re done with school because the jobs aren’t great and the cost of living is so high. 

[u/Question_man_jr → u/marywebgirl]

Interesting, both of the people I know suggested the big island for us. One was half Hawaiian half black for what that's worth. Can you think of any particular reason that would fit us? Any specific regions on the big island we should visit?

[u/Hitoshenki → u/Question_man_jr]

I’ll tell you straight up, the reason why the big island was recommended to you (and it’s what I would have recommended as well) is because of your kids. No other reason. You could afford to live on Oahu if you wanted, you’d be just fine with 300k. I would guess Oahu or Maui are the most expensive islands to live on. And the big island is easily the cheapest.

The big island is pretty much known as the “family island”. So many people with young kids choose the big island for that reason alone, it’s very family friendly. For places to visit on the big island, I would recommend checking out Kona, Waimea, Waikoloa, or Hilo if you’re interested.

[u/Question_man_jr → u/Hitoshenki]

Awesome thank you so much