Find a Financial Advisor in Maui County

Maui County at a glance: what pays the bills on the islands

Most paychecks in Maui County trace back to visitors in one way or another. Hotels and resorts in Kaanapali, Kapalua and Wailea, condominium complexes in Kihei, restaurants, tour operators, vacation rental managers, golf courses and the airport and harbor crews around Kahului all depend on people who fly in. Behind them sit construction trades, county and school employees, health care workers, and farms and ranches in Upcountry Maui and on Molokai. Add a growing group of remote workers and small business owners who picked the islands for the lifestyle, and you have an economy that is busy, uneven and expensive.

That mix creates money problems the mainland rarely sees. Hourly shifts and tips rise and fall with the season, plenty of households hold two or three jobs, and the cost of keeping a roof overhead is among the highest anywhere in the country. According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, the county looks like this:

The rest of this page walks through the service areas people ask about most, then the local issues that change the answers: Hawaii taxes, housing and leases, insurance after the 2023 Lahaina fire, and the decision to stay or move.

Wealth management in Maui County

Wealth management here usually starts with an asset that is not a stock: land or a house. A family that bought a lot in Kula or Wailuku decades ago may now hold a property worth more than the rest of its savings combined. A coordinated plan looks at that property together with retirement accounts, business value and what the next generation will inherit.

Four kinds of households tend to need this level of help. Owners of restaurants, contracting firms, vacation rental management companies and farms often have most of their net worth inside the business. Professionals who work remotely for mainland employers may receive stock awards that need a tax and diversification plan. Retirees who sold a mainland home and moved to Wailea or Kihei arrive with a lump sum and a lot of questions. And local families who hold land across several heirs face questions about who owns what and who pays the bills on it.

A wealth manager brings investment management, tax coordination and estate work under one roof, or at least into one conversation. Hawaii has its own estate tax separate from the federal one, so the order in which assets pass and the type of trust you use can change the outcome. Ask any advisor to explain how they would work with your attorney and your accountant before you hand over assets. Read more in our guide to estate planning.

Investment advisors in Maui County

An investment advisor manages a portfolio and keeps it matched to your goals. On an island with few local big employers, one reason people hire one is concentration. A household with a house worth most of its wealth, a job tied to tourism and a business that rises or falls with flights is already heavily exposed to one place. A sound portfolio tries to own things that do not depend on Maui at all.

Common questions we hear from the county:

• How much of my savings should stay liquid, given that my income can drop in a slow season?
• Should I put money into a second rental property, or into a diversified fund?
• Can I take investment risk and still sleep after a hurricane warning?
• What happens to my accounts if I move to the mainland?

Expect an advisor to describe how they are paid, which custodian holds your money, and how often they review. Index funds and plain bond funds are fine building blocks, and a good advisor can explain why. For background, see our investing guide.

A small example: a Kihei couple in their early fifties, with a $900,000 condo and $400,000 in retirement accounts, wants to buy a second unit as a rental. An advisor would compare the extra mortgage, the rules on short-term rentals, the insurance premium and the time it takes with the same money placed in a broad portfolio. The answer may still be yes, but it should be made with the numbers on the table.

Retirement planning in Maui County

One in five residents is 65 or older, and many others are in their fifties and wondering if the islands remain affordable once the paycheck stops. Retirement planning here has a question the mainland does not: do I stay or go?

Staying means paying island prices on a fixed income. Groceries, electricity and insurance run high, and the home that felt like a bargain at purchase may now carry a large property tax and association bill. Going means selling into the local market, perhaps buying cheaper on the mainland, and living farther from family and friends. A planner can run both paths side by side, with your Social Security estimate, pension if you have one, retirement account balances and likely health costs.

Points to settle early:

1. When to claim Social Security, and how that affects a spouse.
2. How to draw down accounts so you do not push yourself into higher tax brackets.
3. Medicare enrollment and what supplemental coverage costs where you plan to live.
4. Long-term care: care on an island can mean flying to another island for some services.
5. Whether to rent, downsize, or sell the family home and keep the land.

Hawaii taxes retirement income differently from federal rules, so confirm the current treatment of pensions and withdrawals with a tax professional. Our retirement planning guide covers the national basics.

Not sure whether to retire here or elsewhere?

Get a side by side look at both options with an advisor who works with island households, by phone or video.

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Life insurance in Maui County

With home prices near $900,000, the mortgage is usually the largest reason to carry life insurance in this county. If one earner dies, can the other keep the home? A policy sized to the loan, plus several years of income, answers that question. Single-income families, couples with young children, and people who co-signed a family loan all have a reason to look.

Term policies give a set amount for a set number of years and cost the least for most healthy adults. Permanent policies build cash value and can fit estate planning, but they cost much more and need a clear purpose. Business owners sometimes use life insurance to fund a buyout if a partner dies, which matters where small firms dominate.

When shopping, watch for three things. Employer coverage often ends when you leave a job, and with tourism jobs that can happen fast. Ask whether a policy can be converted or renewed. And compare quotes from more than one company, since pricing varies by age, health and tobacco use. Our life insurance guide explains the types in plain language.

Financial planners in Maui County

A financial planner builds the whole map: budget, debt, savings, insurance, taxes, education costs and retirement. This is the right first stop when your finances feel scattered or when you are facing a large decision such as buying a first home, returning to school or leaving a job.

In this county a planner earns their keep on three problems. The first is cash flow when pay is seasonal: how many months of expenses to hold, and where. The second is housing: whether to rent, buy, or buy a lot and build, and how much monthly cost is safe. The third is the cost of flying, since many families make regular trips to the mainland or between islands for school, medical visits or family. A good plan accounts for it rather than pretending it does not exist.

Some planners charge a flat fee for a plan, others charge hourly, and others bill a percentage of assets they manage. Our budgeting and saving guide is a useful warm-up before the first meeting.

Financial advisors in Maui County: what it costs

The title financial advisor covers many jobs, so start with how the person is paid. Fee-only advisors take payment from you alone, usually a percentage of assets, an hourly rate or a flat fee. Commission-based advisors are paid by the products they sell. Some mix both. None of those is automatically wrong, but you should know which one you are talking to.

Asset-based fees commonly fall around one percent a year on managed money, with the percentage often lower on larger balances. A flat-fee plan can cost a few thousand dollars. Hourly work is useful for a single question. Ask for the figure in dollars for your own situation and compare it with what you would pay for the same work elsewhere.

Because advisors can work by phone or video, you are not limited to whoever happens to have an office in Wailuku or Kihei. You can talk to someone who regularly handles island clients, or to a specialist in a topic such as equity pay or inherited property. Our financial advisor guide lists questions to ask before you sign anything.

How to choose a financial advisor in Maui County

Start by naming the job. Retirement income, a business sale, an inheritance and a first plan are different projects, and advisors differ in what they do well. Then check credentials and background on the public registries run by the SEC and FINRA. Ask whether the advisor acts as a fiduciary on all advice, and have the answer in writing.

Ask for sample work. A planner who works with island families should be able to explain, in plain words, how they would treat leased land, short-term rental income, seasonal pay or a family property with several heirs. Ask how they handle a client in a different time zone, since an evening call in Hawaii is a morning on the East Coast.

Finally, trust your sense of the conversation. You should leave the first meeting with fewer questions than you came with, no pressure to sign, and a clear idea of the next step.

Hawaii income tax and the general excise tax

Hawaii runs its own income tax and also charges a general excise tax on business gross receipts, which many businesses pass along to customers. If you are self-employed, run a rental or sell services, the general excise tax can matter as much as income tax. Visitor lodging is also subject to separate transient accommodations taxes, and the county sets property tax rates that differ by how the property is used. A primary residence is taxed differently from a short-term rental or a second home.

These rules change, and details such as exemptions and rates are not listed here on purpose. Confirm current rules with the Hawaii Department of Taxation or a tax professional before acting. A planner can then fold the answers into your cash flow, retirement withdrawals and estate plan.

Housing, leases and insurance after the 2023 Lahaina fire

The median home value of $904,700 and the median owner cost of $2,821 a month with a mortgage tell only part of the story. Many Hawaii homes sit on leased land, and a lease with a short remaining term can lower a loan’s availability and a home’s resale value. Condominium owners also pay association fees and special assessments that can jump after a major repair.

The fire that destroyed much of Lahaina in August 2023 changed insurance and rebuilding for the whole county. Families who lost homes or businesses may be working through insurance claims, rebuilding choices, grants or settlements, and the tax treatment of any payments. Others elsewhere in the county now see higher premiums, tighter underwriting or coverage changes at renewal. Hurricane and flood risk remain part of owning near the coast.

Practical steps for homeowners: read the declarations page of your policy every year, ask what is excluded, keep an inventory of belongings with photos, and ask an advisor or tax professional about the effect of any settlement before you spend it. Our college savings guide is also worth a look if you are juggling a rebuild and a child heading to school.

Moving in, moving out: Maui County residents on the move

People come and go from the islands all the time. Some arrive with a mainland salary and a plan to work remotely. Others leave after a decade because housing, childcare or family pulled them back. Each move touches taxes, benefits and investments.

If you are moving in, ask about residency for tax purposes, the cost of shipping a car and household goods, and how your current employer treats a Hawaii address. If you are moving out, think about when to sell a home, how capital gains are taxed, and how to transfer health coverage. If you are retiring to the islands from elsewhere, compare the cost of a month in Kihei with a month where you live now, using your real receipts rather than a guess.

Whichever way you are going, a short planning session before the move is far cheaper than fixing mistakes after. Bring your latest tax return, account statements and a list of the dates that matter.

Areas we serve in Maui County

Advisors who serve the area, by phone or video, work with residents across the county. That includes Kahului and Wailuku in central Maui, Kihei and Wailea in the south, Lahaina, Kaanapali and Kapalua in the west, Makawao, Pukalani, Kula and Haiku in Upcountry and the north shore, and Hana on the east side. It also includes Lanai City on Lanai and Kaunakakai on Molokai. Kahoolawe is part of the county but has no residents.

Because meetings happen by phone or video, island distance does not slow anything down. Pick a time that works with your work shift and a mainland advisor can adjust to yours.

Frequently asked questions