1 Apr 2010

Honolulu ranked second most expensive city in global survey

11:24 am on 1 April 2010

A global survey has ranked Honolulu in Hawaii the second-most expensive city in the world to do business among 112 cities studied.

That's according to a worldwide survey done by KPMG LLC, an audit, tax and advisory services network.

Honolulu was categorized as a small city with a population under one million.

The Honolulu Star bulletin reports the 2010 study measured 26 cost components, including labor, taxes, real estate and utilities.

The online report said costs in manufacturing, such as agriculture, plastics and metals, each had a cost index above the U.S. average.

Los Angeles, New York and San Francisco fared badly on the survey, ranking within the top 10 globally due to high labor costs, but Tokyo in Japan took out the top spot.