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When you plan a trip to Hawaii, as with any other vacation, just remember to plan ahead. Plan way ahead. Planning ahead will mostly save you money on the plane tickets. The further you book in advance, the more likely your plane tickets will be cheaper than if you plan a couple of months before going.
If at all possible, try to arrive sometime in the evening. You're likely to be tired no matter where you come from anyway, so there's no point in arriving early in the morning when you'll be too tired to enjoy the islands. So it is best to arrive at a time when you can just get some rest and start your trip out with energy. You should find it easier to adjust to the time difference if you're able to get some sleep shortly after arriving.
As for accommodations, if you're staying on Oahu, there are literally thousands of hotels to stay in, and therefore, a lot of competition; so spend a little time calling around for the best deals. Inevitably you're going to spend a large chunk of your budget on your accommodations, so try to set the rest of your budget around the accommodations. If you're staying on Oahu remember that all of the hotels in Waikiki are within walking distance of the beach, but the beach front hotels are never cheap.
Condo and beach house rentals are sometimes cheaper than hotels, especially if you happen to be traveling in a large group during the off-seasons. Bed & Breakfast places are also generally cheaper, or the same as a hotel room (depending on location and amenities offered).
It is important to look for a place that has, or can provide a refrigerator and a microwave. Some older hotels won't or can't provide microwaves because their building's fire code won't allow it. It's a good idea to go shopping for food supplies and make many of your own meals because it's a huge money saver. Obviously since you're on vacation you're not going to want to make elaborate meals, so try to find things that are simple and quick. Otherwise, expect to pay about $100 a day per person eating out.
I'll make a point of that because I guarantee that almost anywhere you stay in Hawaii, you will undoubtedly spend a lot more money on food than you will anticipate for two reasons. One; food is already more expensive in Hawaii because everything has to be shipped at least three thousand miles. Two; if you're not staying in a high-volume tourist area like Waikiki, you're probably staying out in the middle of nowhere, neither of which are cheap places to eat. In Waikiki,
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Hawaii: Exploring the islands on a budget
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