HONOLULU (KHON2) – Are you welcoming a new baby in Hawaii this year? In Hawaii most people take a few months off to bond with the baby and get acquainted to a new little one at home.
However, it’s important to plan ahead on who will watch the new baby once the parental leave is over and if you choose to go back to work.
A new study ranked childcare costs in all 50 states and found Hawaii families spend a large portion of their income on childcare.
According to LendingTree, families who pay for childcare spend on average 17.8 percent of their income yearly.
In Hawaii that number is around 20.8 percent meaning Hawaii families tend to spend more of their income on childcare. They estimate families in Hawaii pay on average $404 a week on childcare. This comes out to more than $1600 a month.
The study found 50 percent of families who use childcare nationwide report not having to pay for it because they rely on grandparents, aunts, uncles or friends. But many families do not have that options.
“The demand for quality childcare is enormous and always will be,” said Matt Schulz, LendingTree chief credit analyst. “That allows top childcare facilities to charge higher rates for their services, knowing that people will often be willing to pay more for the quality they provide.”
LendingTree’s study also found active-duty military families end up relying more on family and friends for child-care needs or rely on one out of the two parents having to stay home for childcare necessity.
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To read the full study on childcare costs in the country and here in Hawaii head to LendingTree’s website.