The state Department of Business, Economic Development and Tourism Research and Economic Analysis Division released a report today that provides data and analysis on spending patterns of Hawai‘i Island households in 2014.
The report summarizes data obtained through household surveys conducted by DBEDT in 2015 and covers spending in 2014.
Hawai‘i County Report Findings
An average household in Hawai‘i County spent an average of $51,700 in 2014. Of the 14 major spending categories, 71.2% of the expenditures went towards the three basic needs categories—housing, transportation and food.
Housing was the largest expenditure category, comprising an average of 40.5% of total expenditures or $20,921 in 2014. Housing was followed by transportation (16.3% or $8,405), food (14.4% or $7,420), and personal insurance and retirement savings (7.8% or $4,046).
A typical Hawaii County household spent about $10,000 less than its Honolulu counterpart, who spent $62,280 on average. Compared with Honolulu County, Hawai‘i County consumers spent slightly less on housing and more on transportation and food, though the total shares allocated to these three basic needs categories are similar—both between 71 and 72% of total expenditures.
Hawai‘i County annual household expenditures were slightly lower than the US average in 2014 at $51,700 compared to the US at $53,495.
Housing comprised a larger portion in Hawai‘i County consumers’ spending at 40.5% compared with 33.3% for US.
Hawai‘i County consumers spent relatively more on food at 14.4% compared to 12.6% for the rest of the US.
Hawai‘i County household’s spent less on transportation at 16.3% compared to 17% for US.
Lower income households spent relatively larger shares on the three basic needs categories—78.3% for the lowest-income households compared with 65.5% for the highest-income households.
Higher income households spent both a greater amount and share of their expenditures on entertainment, and insurance and retirement savings.
Homeowners with mortgages spent $65,911 in 2014, which was more than $20,000 more than the annual expenditures of home renters and homeowners without mortgages.
Both homeowners with mortgages and renters spent a large share on housing, 42.2% and 44.8%, respectively, resulting in comparably smaller shares on most other spending categories, relative to homeowners without mortgages.
Historically, the US Bureau of Labor Statistics (BLS) published the consumer expenditure data for Honolulu County, which was compiled from the US Census Bureau’s Consumer Expenditure Survey. T
he BLS survey only included O‘ahu residents and excluded Neighbor Island residents. Data on consumer spending patterns for Neighbor Islands did not exist before DBEDT compiled the data through household surveys.
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