Free retirement calculator tailored for Hawaii (HI). Calculate instantly with state-specific rates and rules.
Hawaii's extreme cost of living means that even above-average retirement savings may not go as far as expected. Many Hawaii-raised retirees relocate to the mainland to stretch their savings. Those who stay often rely heavily on home equity built up over decades.
| Data Point | Value |
|---|---|
| Average Retirement Savings (55-64 age group) | $190,000 |
| Median Household Income | $88,005 |
| Hawaii Tax on Retirement Income | Hawaii does not tax Social Security benefits. |
Hawaii does not tax Social Security benefits. Most pension income from public employees is exempt. However, Hawaii taxes other retirement income (IRA withdrawals, 401k distributions) as ordinary income at rates from 1.4% to 11%, the second-highest top rate in the US.
The average Hawaii household nearing retirement (ages 55-64) has approximately $190,000 in retirement savings. Financial planners commonly recommend having 10-12x your final salary saved by retirement age. For the median Hawaii income of $88,005, that suggests a target of roughly $880,050 to $1,056,060.
Use CalcuWealth's retirement calculator to model your specific situation — including your expected Social Security, any Hawaii pension, and your investment portfolio — to find your personal retirement number.
Data: US Census Bureau ACS 2023, Zillow (2024), Vanguard How America Saves (2023), NCES. Updated 2024–2025. Figures reflect state averages — consult a licensed financial advisor for personalized guidance.
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