Out of all the cities in the United States that have a large number of millionaires, Honolulu may be the most surprising. First of all, most people think of the city as a top vacation destination, not a place where people actually move and live!
The turquoise harbors and picture-perfect sands of the beaches throughout Honolulu are enticing, to say the least. In fact, when vacationers come to Hawaii, they often wish they could move there permanently. That is just a pipe dream for many – most of us have to get back to reality once in a while!
But, that dream can come true for millionaires and retirees. However, we don’t want to discourage you from moving to Honolulu if you are retiring soon but not a millionaire! The median household income of the city is $67,066 so not everyone is super rich!
Many retirees move to Honolulu to enjoy the beautiful weather and great scenery. Who wouldn’t want to live in paradise? Many millionaire retirees enjoy relocating to Honolulu where the average home price is about $580,000.
Here are some stats breaking down how many millionaires make Honolulu home:
- The metropolitan population of Honolulu is almost 1 million.
- There are just over 24,000 millionaire households in Honolulu.
- That’s a concentration of almost 8% – a lot of millionaires!
- Almost 3,500 millionaire households have over $5 million in investable assets.