You might be surprised to see Honolulu in this list, but hear us out on this one.
If you want to live in Hawaiʻi for a set period of time and you’re not that interested in actually owning the property, you might consider a leasehold property in Honolulu. A leasehold is a form of long-term lease that means you can live in a Honolulu condo for 30, 40, or even 50 years for a much lower price than buying a condo. It’s a very specific type of arrangement that isn’t for everyone, but it’s one way to do Hawaiʻi for cheap(er).
Or, if you’re simply on a set budget and don’t need a ton of space, maybe a condominium in Honolulu is right for you. (Look for a “fee simple” listing, which means outright ownership as opposed to a leasehold.) While you might not get the optimal value for your money—and you’ll need to factor in a monthly HOA/condo fee as well as condo insurance—it’s one way to get your own slice of paradise for less than a single-family home.