New report details high cost of housing in Hawaii

The average Hawaii County renter earns less than half of the income needed to afford a two-bedroom apartment, newly released data from the National Low Income Housing Coalition shows.

The state-by-state “Out of Reach 2016” report, which was released Wednesday, shows renters in the county — which is around 34 percent of residents — earn a mean hourly wage of $10.45, which is enough to afford a unit up to $543 per month.

A one-bedroom unit on the island runs around $966 per month on average, which would require an hourly wage of $18.58. And a two-bedroom runs around $1,194 — necessitating a wage of $22.96. That’s slightly higher than last year, when $22.13 per hour would have secured a two-bedroom home in the county.

The state as a whole features the most expensive rental market in the country, the report showed.

Hawaii renters earn $14.53 per hour on average, which is nearly $20 less than what’s needed to afford a two-bedroom unit.

Comparative to the rest of the state, the Big Island is still a deal. Hawaii as a whole ranked the most expensive state in the nation.

Renters statewide earn $14.53 per hour, which is nearly $20 less than what’s needed to afford a two-bedroom house. Honolulu County has the highest prices in the state — a two-bedroom house in the county requires an hourly wage of $38.17.

Minimum wage in Hawaii is $8.50 per hour, though it’s set to increase to $9.25 in January and $10.10 the year after.

At the current minimum, one would need to work 87 hours per week to afford a one-bedroom place, the report shows, and 108 hours per week to afford a two-bedroom.