Some recent good news that's come down the pipeline is that Hawaii electric bills are at their lowest in five years this month. That includes customers of Hawaiian Electric Co., Maui Electric Co. and Hawaii Electric Light Co. The primary reason is dropping fossil fuel prices, but regardless of the source, it's a happy circumstance for residents throughout the islands.
According to Darren Pai, a spokesman for Hawaiian Electric, the utility considers it critical to continue pursuing 100% renewable energy from diverse sources to keep energy bills low. That way, fossil fuel prices won't impact the cost of our energy in the first place. At this point, Hawaiian Electric Co. gets 22 percent of its energy from renewable sources, and progress is being made quickly, which is good news for those looking forward to buying Maui real estate.
According to the report, Hawaiian Electric and Maui Electric customers are getting the lowest monthly bills in over five years. Hawaii Electric Light customers are getting their lowest monthly bills in over six years. There was also an interesting breakdown to the typical cost of an electric bill by island.
The typical residential bill on Oahu was $132.32 per month, the lowest since June of 2010. Also at their lowest cost since that year were the islands of Maui County. The typical residential bill on Maui was $141.57 per month, while Molokai's was $132.73 per month, and Lanai's was $138.86 per month. Meanwhile, the Big Island's bills were highest at $163.20, which haven't been that low since July of 2009.
It was interesting to see that an electric bill on Maui was only about $9 higher than Oahu, but that the Big Island's bill was around $21 more than on Maui, and about $30 more than on Oahu. Considering the high quality of life that you can expect if you choose to live and possibly buy real estate on Maui, the marginal increase is probably worth it. That's true especially if you like a lower population density and more space overall. On that note, if you need assistance with your Maui real estate search, we would be happy to help you through every step of the process. You'll find our contact information at the bottom of the page if you need us. Mahalo!
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