Financial Assistance

The Army Community Service Financial Readiness Program (FRP) focuses on improving Soldiers' personal financial status and their abilities to perform as informed consumers. Assistance will be provided to commanders and leaders in training soldiers and family members in personal financial readiness/soldier money management and consumer affairs. Financial planning is available to active duty, retirees and their family members at no cost.

The Financial Readiness Program (FRP) offers one-on-one counseling in areas of budgeting, credit repair, child care subsidy, security memo, financial Early Return of Dependents (ERD), and consumer complaints. Financial counseling and basic investments. The FRP has a variety of classes and workshops such as checkbook/account maintenance, understanding insurance, money and credit management, home buying, car buying and retirement. FRP offers the Financial Resilience Series which includes money management, basics of budgeting, credit report and score, basic investing and Thrift Savings Plan (TSP). In addition, a variety of Milestone classes and workshops are offered such as, retirement planning, car buying, first time home buying, and understanding insurance and more.

The cost of living in Hawaii is about 30% higher overall than on the mainland United States. Review your basic allowance for housing and use it as a guideline when looking for off-post housing.

The cost of living in Honolulu is 153% higher than the national average. The average median home price is $1,153,000; the average cost of a 3-bedroom rental is $3,100. The average cost of utilities without air conditioning is $325; with air conditioning, it’s $650. Keep in mind the average cost of utilities needs to be budgeted.

Give yourself at least two months to adjust financially whenever you relocate. Sketch out a spending plan and track expenses to stay within budget guidelines. Think twice before taking advance pay. You may have a hard time making ends meet when you have to pay back the advance.

Your cost of living allowance is based on grade, years in service and the number of dependents. Family members must be physically on the island and command-sponsored for you to receive COLA benefits for dependents. Shop at the commissary and save. Always make a grocery list, avoid convenience foods and remember to use coupons. When considering purchasing a large-ticket item such as a vehicle, do not include COLA. Keep in mind that COLA is based on geographical duty location.

The temporary lodging allowance is an allowance to partially reimburse a member for temporary lodging and meal expenses incurred while occupying temporary lodging that doesn’t have facilities for preparing and consuming meals. Payment is based on the per diem at the location of the temporary housing.

In order to operate a car in Hawaii, you must have Hawaii motor vehicle auto insurance. To comply with Hawaii law, your car insurance policy must include liability coverage and personal injury protection coverage. Hawaii is considered a no-fault state. Under Hawaii's no-fault law, your own insurance company pays for any injuries that you receive in an accident, regardless of who was at fault. No-fault insurance only covers bodily injury; it does not cover damages to the vehicle or property. The required minimum PIP is $10,000.

Shop for your bank; check the location, ATM service and fees. Each bank or credit union offers different services. Comparing the best combination of price, quality and service will allow you to make the best choice.

Army Community Service financial planning includes assistance with budgeting, dealing with creditors and debt liquidation. Financial planning is available to active duty, retirees and their family members at no cost.