Hawaii
Disability Insurance

Everyone deserves the opportunity to protect their quality of life and their future, and with disability insurance, you can. You can think of disability insurance as your financial safety net, giving you an earnings replacement if you’re not able to earn a paycheck due to illness or injury. We’ve laid out the cost-of-living analysis in Hawaii to show you the average expenses in the state and why d

How much does it cost to live in Hawaii?

According to the Missouri Economic Research and Information Center, Hawaii has the highest cost of living of any of the 50 states. Additionally, the Bureau of Economic Analysis data says that goods and services in the state cost 18.1 % more than they do on a nationwide scale. The Urban Honolulu metro region is the most expensive in the state, with goods and services costing 24.2 % more than the national average and 6.1 % more than the statewide average. 

Cost of Living Parameters 

Housing & Rent 

When compared to the national average, Hawaii’s housing prices are considered fairly expensive, with the average home costing $587,450. The average renter in Hawaii pays $1,566 per month for housing, which is $543 more than the national median of $1,023 per month.  

Hawaii residences are typically smaller, with yards and open space at a premium, so for many people, condo living in Honolulu is very common. 

Here are some stats on Hawaii Mortgages:  

  • Homeownership rate: 56.6%  
  • Homeowner vacancy rate: 0.7%  
  • Rental vacancy rate: 4.7% 

Childcare  

In Hawaii, the average yearly cost of baby care is $13,731—that's $1,144 per month. Childcare for a 4-year-old costs $8,937 a month, or $745 per week. In terms of the most expensive infant care, Hawaii ranks 12th out of 50 states and the District of Columbia. 

 Below is a list of down of childcare costs from infant to college:   

  • Infant: $13,731 
  • 4-Year-Old: $8,937 
  • School: $13,586 
  • College: $9,709 

Utilities  

Apartment utilities refer to the essential services required in a home such as gas, water, electricity, cable, and internet. A Hawaiian resident can expect to spend up to $442 per month on apartment utilities on average. 

Food & Groceries  

Hawaii has the highest grocery prices in the country, because supplies are delivered from the mainland. A single adult in Hawaii spends an average of $4,613 on food each year, while a family of four spends an average of $13,004. 

The average price for eating out would be:   

  • A basic meal with a drink at an inexpensive restaurant: $18 
  • Fast Food Combo (Big Mac etc.):   $10 
  • Bottle of Coca-Cola: $2.22 
  • Bottle of Water: $2.06 

Grocery shopping in the state would cost as follows:  

  • Milk (regular), (1 liter): $1.79  
  • Loaf of Fresh White Bread (500g): $5.74 
  • Rice (1 Kg): $6.66 
  • Eggs (regular) (12): $4.44 
  • 4 Rolls of toilet paper: $5.90 
  • Hair Shampoo: $7 

Transportation  

81% of commuters in Hawaii drive to work, compared to 85.5 % nationally. The average motorist in the state travels 7,547 miles per year. In Honolulu, gas costs in January 2021 were around $3.16 per gallon. Taking the bus, or TheBus on Oahu, maybe a more cost-effective mode of transportation at $2.75 per ticket. 

According to Insure.com, the average car insurance rate in Hawaii is $2,878, significantly higher than the national average of $1,517. According to EPI data, the average single adult in the state spends $9,934 on transportation each year. 

The annual transportation fee of a family is $13.707 which is more expensive than the annual transportation cost in the US. 

Average Income & Taxes  

The average yearly income of a single adult living in Hawaii is $73,973 and the estimated state income tax is $2,400. 

Most Expensive Hawaii Cities to Live in :

  • Wailea 
  • Kailua  
  • Lahaina 
  • Honolulu  
  • Kihei

Why is disability insurance important to have in Hawaii?

As shown by the above cost of living study, a steady income is required to live comfortably and worry-free. Whether you work full-time or as a freelancer, getting disability insurance is the first step towards financial stability.  
What would happen if you found yourself unable to earn a paycheck because you were too ill or injured to work? According to a recent survey conducted by personal financial website Bankrate, more than half of Americans (51%) have less than three months' worth of emergency funds.

Medical bills are reported to be the number one cause of U.S. bankruptcies. One study has claimed that 62.1% of bankruptcies were caused by medical issues. Other studies show that over 2 million people are adversely affected by their medical expenses.  

If medical bills start piling up, you’ll no longer be able to support your lifestyle in other areas as well, especially if your income is on hold. You might find yourself unable to pay for utilities and rent, and that eventually could lead to foreclosure. In fact, half of foreclosures on conventional mortgages in Hawaii are caused by the disability of one of the homeowners.

A lot of people still think that the need for disability insurance is not top priority, thinking that disability rarely happens, and when it does, it’s only caused by serious accidents. But did you know that up to 90% of disability cases recorded are due to illness, not injury?

With that being said, applying for private disability insurance should be on top of your to-do list because life is unpredictable, but your income shouldn’t be.

Does Hawaii have state disability insurance?

Only 5 states in the U.S. require companies to provide their employees with disability insurance coverage that includes benefits for accidents or illnesses sustained outside of the workplace. And Hawaii is one of these states.  

Employers in Hawaii are required to provide temporary disability insurance (TDI) or payments to employees who suffer from short-term, non-work-related illnesses or injuries, including pregnancy. The requirement's purpose is to provide workers with partial wages when they are unable to work.

 If your employer fulfills the requirements provided by Hawaii legislation, your benefits will equal 58 % of your average weekly pay, rounded to the nearest dollar. However, the greatest amount you can receive is limited by a financial figure set by the Disability Compensation Division each year (DCD).

How can I easily get supplemental disability insurance coverage in Hawaii?

A supplemental disability insurance coverage is an excellent strategy to safeguard your income and way of life. It helps to compensate for a portion of the 40% gap that most work policies provide. Also, the majority of supplemental disability insurance benefits are tax-free.

Here at Asteya, we offer disability insurance (or disability income insurance as we like to call it) that’s simple, fast, and affordable. Our 100% digital process means we don’t tire you out with proof of income, medical exams, phone interviews, or wait times, which means you go from applicant to insured in no time.

  • Signing up for Asteya’s private disability insurance also has many benefits:
  • You are free to spend your benefit payments anyway you see fit.
  • Benefit payments may continue until you retire or recover.
  • You can add disability riders to your policy to increase your coverage.



How can I easily get disability insurance in Hawaii?

Seeking a private disability insurance policy is the best option in Florida. Here at Asteya, we offer disability insurance (or disability income insurance as we like to call it) that’s simple, fast, and affordable. Our 100% digital process means we don’t tire you out with proof of income, medical exams, phone interviews, or wait times.  

Who qualifies for disability insurance in Hawaii?

Most insurances are bought to protect homes, vehicles, and health, but our most valuable asset tends to get neglected: our income. 70% of working Americans live paycheck to paycheck, with little savings to buffer the financial burden of a disability that leaves them unable to work.

At Asteya, we offer 2 types of disability income insurance: Permanent Disability Income Insurance and Sickness & Injury Disability Income Insurance. Visit asteya.world for more details on the eligibility of our product offering.

How much does disability insurance in Hawaii cost?

Protecting your income shouldn’t be a luxury, so here at Asteya, we’ve created affordable and easy solutions that won’t drain what you’re trying to protect (your income!). Our prices start as low as:  

 
Permanent Disability Income Insurance: starting at $6.05/month  

Sickness & Injury Disability Income Insurance:
starting at $5/month

The bottom line

On average, living in the state of Hawaii will cost you $1616 per month give or take – that's a lot of expenses! You've invested a lot of time and hard work in building a life that works for you, and your hard work should not go to waste due to an accident or illness. That’s why you should protect your lifestyle and your income with DI.

When it comes to qualifying for Hawaii’s state disability insurance, employees must have worked in Hawaii for at least 14 weeks, during which time he or she was paid for 20 hours or more and earned at least $400 in the 52 weeks prior to the first day of disability. The 14 weeks do not have to be consecutive or with the same company. To be eligible, the individual must be currently employed.  

Additionally, you’d have to wait on average 7 days (if not more!) before you can get paid when applying for your first disability benefits claim. Once approved, the average disability payment you’ll receive will only be $1,258, which is just enough to stay above the poverty line, but not much more.

But when it comes to private insurance, at Asteya, the benefit you get approved for is the benefit you receive, so you can rest assured knowing you’re covered – no surprises. Asteya provides disability insurance that’s A-rated (that means we provide the best!) and applying is as easy and straightforward as ever. We don't tire you out with proof of income, medical tests, phone interviews, or wait times because our process is 100% digital.

How do I get disability insurance?

Get a quote from Asteya in seconds and go from applicant to insured in minutes