As a retiree, you can spend your days wherever you want. If you are debating where is the best place to retire, then check out the below information on why Hawaii is becoming a popular choice.
Why Retirees Consider Senior Communities in HawaiiMore and more seniors are choosing retirement communities in HI. In fact, there is a higher population of residents older than 65 years of age in Hawaii than on the mainland.
Island Paradise Without Leaving the CountryOne of the main reasons that senior communities in Hawaii are popular is because they allow retirees to enjoy a vacation lifestyle without leaving the United States. Retiring abroad is a fantastic concept but there can be drastic drawbacks.
For example, seniors can only make use of programs like Medicare at facilities within the country. As a result, the practice of retiring to a place that feels like a whole new world but still retains the benefits retirees have earned is more practical.
Similarly, it is easier for families to visit loved ones in senior apartments in Honolulu than it is to visit them in foreign countries. Children and grandchildren may also be more inclined to visit when living in a utopia.
Living in Hawaii is also simpler than learning a new language for daily interactions with locals.
Tax-FriendlyKnown as the Paradise of the Pacific, the state of Hawaii is also a tax paradise for retiring seniors. This includes property taxes in certain counties, which also vary by the residents’ age, as older seniors qualify for larger amounts exempted.
Residents in senior communities in Hawaii can also receive tax exemptions on prescription drugs and prostheses.
Along with Social Security benefits and pensions, the state waives select sources of income. Residents are exempt from paying taxes on income from:
- Private retirement plans
- Government retirement plans
- Military retirement plans
The tax rate for income surpassing these amounts is 5.96 and 7.13 percent for single and joint filers respectfully. However, the tax rates do increase for high earners with incomes of more than $200,000 or $400,000.
Affordable Health CareIn addition to beautiful views of beaches from senior apartments in Honolulu, residents can also receive beautifully inexpensive medical costs. Health care on the islands is 11.4 percent less than the national average.
While this might partially be due to the healthy island lifestyle, the state’s health care system is ranked as one of the most efficient in the country.
What to Know About Senior Apartments in HonoluluOf all the islands, Oahu offers the most retirement communities for residents older than 55 years of age. Honolulu specifically has many housing choices from which to choose including:
- Age-restricted active adult communities. These types of housing require at least one resident to be 55 years of age or older.
- Leisure communities. While there is no age restriction for these types of retirement communities, they offer many amenities designed for those with more recreational time.
- Independent living communities. In addition to housing, these communities have additional services for seniors, such as meals, housekeeping and transportation.
- Continuing care retirement communities. These facilities have services that increase with the resident’s needs. For instance, a resident may live independently initially and then require more care as time passes.
Retirement Communities in HawaiiSome of the best senior communities in Hawaii include the following:
- Diversity of housing types such as standalone homes, condominiums and apartment units
- Resort living and luxury amenities
- Golf courses, swimming pools and barbecue areas
- Beach and mountain views
- Recreational center and planned group activities