The currency chart below is based on August 2008 exchange rates between local currency and Australian dollars (AUS$), Canadian dollars (CDN$), European Union euro (EUR€), New Zealand dollars (NZ$), and British pounds (UK£). Check the currency converter on websites like www.xe.com or www.bloomberg.com for the latest exchange rates.
As a general rule, it’s cheaper to convert money in Hawaii than at home. While currency exchange will probably be available in your arrival airport, it’s wise to bring enough foreign currency to last for at least 24-72 hours. When changing money abroad, try to go only to banks that have at most a 5% margin between their buy and sell prices. Since you lose money with every transaction, it makes sense to convert large sums at one time.
If you use traveler’s checks or bills, carry some in small denominations (the equivalent of $50 or fewer) for times when you are forced to exchange money at poor rates, but bring a range of denominations since charges may be applied per check cashed. Store your money in a variety of forms; ideally, at any given time you will carry cash, traveler’s checks, and an ATM and/or credit card.
Traveler’s checks are one of the safest and most convenient means of carrying funds. American Express and Visa are the most recognized brands. Many banks and agencies sell them for a small commission. Check issuers provide refunds if the checks are lost or stolen, and many provide additional services, such as toll-free refund hotlines abroad, emergency message services and assistance with lost and stolen credit cards or passports. Traveler’s checks are readily accepted in Hawaii. Ask about toll-free refund hotlines and the location of refund centers when purchasing checks, and always carry emergency cash.
Where they are accepted, credit cards often offer superior exchange rates—up to 5% better than the retail rate used by banks and other currency exchange establishments. Credit cards may also offer services such as insurance or emergency help and are sometimes required to reserve hotel rooms or rental cars. MasterCard and Visa are the most frequently accepted; American Express cards work at some ATMs and at AmEx offices and major airports.
The use of ATM cards is widespread in Hawaii. Depending on the system that your home bank uses, you can most likely access your personal bank account from abroad. ATMs get the same wholesale exchange rate as credit cards, but there is often a limit on the amount of money you can withdraw per day (usually around $500). There is also typically a surcharge of $1-5 per withdrawal.
Debit cards are as convenient as credit cards but withdraw money directly from the holder’s checking account. A debit card can be used wherever its associated credit card company (usually MasterCard or Visa) is accepted. Debit cards often also function as ATM cards and can be used to withdraw cash from associated banks and ATMs throughout Hawaii.
The two major international money networks are MasterCard/Maestro/Cirrus (for ATM locations ☎800-424-7787 or www.mastercard.com) and Visa/PLUS (for ATM locations ☎800-847-2911 or www.visa.com). Most ATMs charge a transaction fee that is paid to the bank that owns the ATM.
If you run out of money while traveling, the easiest and cheapest solution is to have someone back home make a deposit to your bank account. Otherwise, consider one of the following options.
It is possible to arrange a bank money transfer, which means asking a bank back home to wire money to a bank in Hawaii. This is the cheapest way to transfer cash, but it’s also the slowest, usually taking several days or more. Note that some banks may only release your funds in local currency, potentially sticking you with a poor exchange rate; inquire about this in advance. Money transfer services like Western Union are faster and more convenient than bank transfers—but also much pricier. To find a Western Union, visit www.westernunion.com, or call in Australia ☎1800 173 833, in Canada and the US 800-325-6000, in the UK 0800 833 833. To wire money using a credit card (Discover, MasterCard, Visa), call in Canada and the US ☎800-CALL-CASH, in the UK 0800 833 833. Money transfer services are also available to American Express cardholders and at selected Thomas Cook offices.
The cost of your trip will vary considerably, depending on where you go, how you travel, and where you stay. The most significant expenses will probably be your round-trip (return) airfare to Hawaii (see Getting to Hawaii: By Plane). Before you go, spend some time calculating a reasonable daily budget.
To give you a general idea, a bare-bones day in Hawaii (camping or sleeping in hostels, buying food at supermarkets) would cost about $40- 50; a slightly more comfortable day (sleeping in hostels/guesthouses and the occasional hotel, eating one meal per day at a restaurant, going out at night) would cost $70-90; and for a luxurious day, the sky’s the limit. Don’t forget to factor in emergency reserve funds (at least $200) when planning how much money you’ll need.
Simple ways include searching out opportunities for free entertainment, splitting accommodation and food costs with fellow travelers, and buying food in supermarkets. Camping is a good way to save money in Hawaii. Bring a sleepsack to save on sheet charges in hostels and do your laundry in the sink. Museums often have certain days once a month or once a week when admission is free; plan accordingly. Many sights and museums offer reduced admission to students and youths with ISIC and IYTC . Drinking at bars and clubs quickly becomes expensive.; it’s cheaper to buy alcohol at a supermarket and imbibe before going out. That said, don’t go overboard. Though staying within your budget is important, don’t do so at the expense of your health or a great travel experience.
It is customary to tip waitstaff and cab drivers 15% (though especially poor or good service warrants tipping from 10-20%). Tips are usually not included in restaurant bills; a restaurant will tell you if gratuity is included. Porters expect at least a $2 per bag tip to carry your luggage. Except at flea markets or other informal settings, bargaining is generally frowned upon in Hawaii.
In Hawaii, the state general excise tax is 4%, which is effectively identical to a sales tax and is levied on groceries also. Usually this tax is not included in the prices of items. There is an additional 0.5% surcharge in Honolulu. An accommodations tax of 7.25% applies to all rooms for fewer than 180 consecutive days; this tax is on top of the state general excise tax for a total of 11.25%. An arcane tax on rental cars is automatically factored into the price of a rental.
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For 52 years, we have published the world’s favorite budget travel guides, written entirely by students and updated every year. With pen and notebook in hand and a few changes of underwear stuffed in our backpacks, we spend months roaming the globe in search of travel bargains.
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