Maui Business

STUDY: Kahului Among Most Tax-Friendly Retirement Spots in Hawaiʻi

September 28, 2015, 1:58 PM HST
* Updated October 1, 8:09 AM
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SmartAsset Tax Friendly map.

SmartAsset Tax Friendly map.

Kahului is one of the most tax-friendly places for retirees in Hawaiʻi, according to a recent study from SmartAsset, a New York-based financial technology company.

The study ranks cities on a Retirement Tax Friendliness Index, which takes into account local property taxes, and whether or not Social Security income is taxed in that area.

Table below shows which cities led Hawaiʻi in retirement tax friendliness.

Rank City Income Tax Paid Property Tax Paid Social Security Taxed? Retirement Tax Friendliness Index
1 Waianae, HI $7,292 $642 No 55.90
2 Hilo, HI $7,292 $679 No 55.82
3 Kahului, HI $7,292 $731 No 55.71
4 Kihei, HI $7,292 $798 No 55.58
5 Makawao, HI $7,292 $833 No 55.51
6 Wailuku, HI $7,292 $841 No 55.49
7 Pukalani, HI $7,292 $843 No 55.49
8 Lihue, HI $7,292 $1,032 No 55.10
9 Lahaina, HI $7,292 $1,041 No 55.08
10 Kapaa, HI $7,292 $1,064 No 55.04

Hawaiʻi was ranked among the states that were classified as “Moderately Tax Friendly,” in the SmartAsset survey.

States that earned the highest marks for being “Very Tax Friendly” were: Alaska; Florida; Georgia; Mississippi; Nevada; South Dakota and Wyoming.

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