Find a Financial Advisor in Hawaii County

Hawaii County at a glance: who earns a living on the Big Island

Hawaii County is both a county and an island, and its economy reflects that. Visitors drive jobs in hotels, restaurants, tours and vacation rentals along the Kohala and Kona coasts. Farming and ranching matter across the island: Kona coffee, macadamia nuts, cattle and tropical fruit and flowers. Scientific work happens at the observatories on Mauna Kea and at the University of Hawaii at Hilo. Health care, public schools and government employ a large share of residents, and construction follows the steady demand for housing. Plenty of people also piece together income from several small jobs or a family farm.

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, Hawaii County had an estimated 210,043 residents in 2025 and a median age of 44.3. Median household income was $78,639, median home value was $519,300, and median gross rent was $1,510 a month. About 74.0% of homes are lived in by their owners, 23.8% of residents are 65 or older, and 31.4% hold a bachelor’s degree or higher.

Do the math and the pressure is clear: a home that costs roughly six and a half years of the median household’s income. Add shipping charges on nearly everything and insurance bills that few mainland owners ever see. The sections that follow explain how advisors help households work with those facts.

Wealth management in Hawaii County

Some Big Island households have wealth that deserves coordinated attention: mainland retirees who sold a home and moved to Kona, families with land held across generations, owners of vacation rental properties, and farm or ranch operators with real estate worth more than their income suggests.

A wealth manager brings investments, tax planning, insurance and estate documents into one conversation. For a land-rich family, the main question is often not investments but succession: who gets the property, how are taxes and loans paid, and how do the heirs agree on use? Land that has been in a family for decades may hold deep sentimental value and yet produce little cash, which makes it hard to divide fairly. A manager can help balance land with other assets, such as investments or life insurance, so that one child is not forced to sell.

Hawaii also has a state estate tax, with a threshold lower than the federal one, so estate planning can matter at a smaller scale than elsewhere. Confirm current rules with an estate attorney. Our estate planning guide explains the basics.

Investment advisors in Hawaii County

An investment advisor designs and monitors a portfolio. Fees may be a percentage of assets, a flat retainer or an hourly charge for a single review.

Picture a couple in Hilo, 55 and 53, who work in education and public service. They have pensions, a 403(b) and a modest brokerage account, and the home they own is worth far more than their savings. An advisor would examine how much of their wealth sits in one house, how pension income and savings fit together, and how to build a cushion for hurricane season deductibles. Our investing guide explains terms such as diversification and rebalancing.

One island-specific point: because so much net worth is tied to local real estate, an advisor should talk about spreading the rest across assets that do not depend on the island economy or a single hazard.

Retirement planning in Hawaii County

More than one in five residents is 65 or older, and the island draws many retirees from the mainland and from other Hawaiian islands. Retirement here involves a different set of choices. Housing costs are high, groceries and utilities cost more than on the mainland, and some specialty medical care may require flights to Oahu or beyond. A good plan includes a travel allowance for medical visits and a reserve for family trips.

Hawaii has historically not taxed Social Security benefits or most pension income that came from employer contributions, but the details are technical, so confirm current rules with the Hawaii Department of Taxation or a tax professional. Withdrawals from traditional IRAs and 401(k) accounts can be treated differently. A planner can map which accounts to tap first.

Also weigh when to claim Social Security, how long you might live, and whether Medicare supplements fit your island providers. Our retirement planning guide covers these choices step by step.

Life insurance in Hawaii County

Life insurance pays a surviving family when a paycheck stops. With a median home value of $519,300, a mortgage is a major debt for many families, and a policy that covers it can keep children in the home.

Term coverage over 20 or 30 years is usually the lowest-cost way to protect a growing family. Farmers and ranchers may use insurance to equalize inheritances, giving the child who stays on the land the property while the others receive life insurance proceeds. Some retirees keep a policy to pay estate taxes or final costs. Our life insurance guide explains term and permanent coverage.

If you work in a seasonal or tourism job, you may not have group coverage. A short term policy, bought while you are healthy, can fill the gap.

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Financial planners in Hawaii County

A planner builds a written roadmap from your income, bills, debts and goals. Some hold the CFP designation, and many work by the hour or on a project basis.

On the Big Island, planners often help with questions like these: can we afford to buy in Puna or North Kohala, how do we handle a variable income from tourism, or what does it cost to help a child with college on the mainland? Younger residents in Kona or Hilo who rent at $1,510 a month and hope to buy at $519,300 need a realistic savings timeline. Our budgeting and saving guide can help you get started.

Financial advisors in Hawaii County: what the work costs

Expect one of a few pricing shapes. Some charge a share of your assets each year. Others charge a yearly fee, a project fee or an hourly rate. Insurance and annuity sellers are paid commission by the company that issues the product.

Get each figure in writing, including the cost of funds inside your accounts. A rule of thumb: the more complicated your situation, the more a flat or hourly arrangement can make sense compared with a percentage. Talk to at least two advisors, since prices vary. Our overview of financial advisors explains the titles you will see.

Volcano, lava zones and insurance on the Big Island

The island has active volcanoes. Kilauea’s 2018 eruption in the Puna district destroyed hundreds of homes, and Mauna Loa erupted in 2022. Officials map lava hazard zones across the island. Homes in the highest-risk zones can be difficult or expensive to insure, and lenders may ask questions. Many owners also live off the grid, with water catchment tanks and solar power, which raises other practical issues.

Before buying, check the lava zone, ask what insurers will write a policy and at what cost, and find out if the road and utilities are maintained. Review homeowners coverage, since standard policies often exclude volcanic eruption and flood. Ask an insurance professional about options for lava coverage, and keep an emergency fund for the deductible. Volcanic gas can also affect health and crops, so ask neighbors about local conditions. Information changes, so use county and state sources and confirm current rules.

Hurricanes, tsunami and island logistics

Hawaii County has a long history with tsunami; the 1946 and 1960 waves devastated Hilo, and coastal areas still have evacuation maps. Hurricanes are less frequent than on the mainland Gulf Coast, but they can pass close to the islands, and a storm can disrupt shipping, power and flights. Because nearly everything is imported, supply interruptions and shipping costs affect household budgets.

Plan for it. Keep several weeks of water and food, a cash reserve, copies of your key papers in the cloud, and a flood and wind policy that covers your actual risk. Moving between Hilo on the wet side and Kona on the dry side changes both your insurance quote and your daily costs. Check a tsunami evacuation zone before renting or buying near the shore.

Hawaii taxes: income tax and the general excise tax

Hawaii has a state income tax with graduated rates, and it also applies a general excise tax on business gross receipts, which many sellers pass on to customers. That second tax matters if you run a farm stand, a rental or a small shop. Property tax rates in Hawaii County also vary by use, such as home, vacation rental or agricultural land. Do not assume a rule you read online still applies: confirm current rules with the Hawaii Department of Taxation, the county real property tax office or a tax professional.

Owners of short-term rentals often face extra taxes, permits and zoning rules. A tax professional can sort which taxes apply and help you set money aside each quarter.

Moving in, moving out of the Big Island

Newcomers arrive from the mainland, Oahu and Asia, often after visiting on vacation. Before relocating, rent for a few months, visit during the rainy season and talk with neighbors. Update your estate documents, since Hawaii has its own rules, and review your health coverage, since not every plan is accepted by island providers.

Some families leave for lower costs or for work. If you sell land or a home, learn the tax consequences before you sign, including capital gains and any withholding rules for out-of-state sellers.

How to choose a financial advisor in Hawaii County

Start with the problem you want solved, then compare two or three advisors. Look up their registration with the SEC or the Hawaii securities regulator, read the Form CRS, and ask about fiduciary duty and fees. Seek someone who has worked with island clients or understands the risks above. Time zones matter: Hawaii is several hours behind the mainland, so confirm meeting times. Phone and video meetings work well, so no one needs to cross the island.

Everyday costs and saving on the Big Island

Households here spend a larger share of income on housing, food and electricity than most mainland families, and many hold two or three jobs or a side business. That makes the first savings goal an emergency fund sized for a hurricane deductible, a car repair on a long road and a gap between gigs. Aim for months of expenses rather than weeks, and keep part of it in cash you can reach quickly.

Next, look at where the monthly money goes. Electricity rates in the islands are among the highest in the country, so solar panels, a solar water heater and efficient appliances can pay off over time, though the savings depend on the roof, the loan terms and net metering rules, which change. Ask for quotes, compare the payback in years and avoid signing on the first visit. Groceries cost more because of shipping, so some families buy in bulk at warehouse stores in Hilo or Kona and share with relatives, or grow part of their own food.

Retirement saving can feel out of reach when rent and gas take so much, yet even a small automatic contribution to a 401(k), a 403(b) or an IRA adds up over decades. If your employer matches, take it. Self-employed farmers and tour operators can use a SEP or solo 401(k). A planner can sketch two or three realistic paths, such as renting longer, buying a smaller home on agricultural land or sharing a property with family, and show what each does to your savings. Our budgeting and saving guide has a simple starting worksheet.

Areas we serve in Hawaii County

We connect residents with advisors who serve the area, by phone or video. That includes Hilo, Kailua-Kona, Waimea, Pahoa, Volcano, Captain Cook, Honokaa, Naalehu and the Kohala coast.

Frequently asked questions