15 Islands You Can Actually Afford to Retire On

Retirement doesn’t have to mean downsizing into suburbia or pinching pennies at home. If you’re dreaming of island breezes, sunset walks, and a slower pace of life—without draining your savings—there’s good news. Some of the world’s most beautiful islands offer low costs, friendly communities, and the kind of everyday magic that makes retirement feel like a reward. Whether you’re after beach life, mountain views, or tropical fruit from the farmer’s market, these islands make it possible. Here are 15 islands around the world where you can actually afford to retire.

1. Madeira, Portugal

This lush Atlantic island is often called the “Hawaii of Europe,” but it’s way more affordable. You get ocean views, mild weather year-round, and a relaxed Portuguese vibe. Healthcare is solid, infrastructure is excellent, and prices for rent and groceries are lower than on the mainland. Many expats rent apartments with sea views for under $800/month. Add in hiking trails, fresh seafood, and no need for a car, and you’ve got an ideal retirement setup. Plus, Portugal offers tax breaks for foreign retirees.

2. Isla Mujeres, Mexico

Just a short ferry ride from Cancún, Isla Mujeres feels like a secret hideaway. It’s safe, quiet, and filled with white-sand beaches and turquoise waters. Rent and food costs are affordable, especially if you shop local and skip the tourist spots. Healthcare options in nearby Cancún are excellent, and you’re still close to modern conveniences. Most people get around by golf cart, and the pace of life is slow and friendly. It’s an island for hammock naps, tacos, and easy days.

3. Koh Lanta, Thailand

Thailand is a retirement favorite, and Koh Lanta offers a mellow alternative to the party-heavy islands. It’s affordable, peaceful, and has a strong expat community that keeps things social without being overwhelming. You can rent a bungalow near the beach for under $400/month and eat well on just a few dollars a day. Healthcare in nearby Krabi is accessible and inexpensive. Whether you’re swimming, practicing yoga, or watching sunsets, life here flows easy. And with Thailand’s retirement visa, staying long-term is simple.

4. Crete, Greece

Crete offers Mediterranean charm without the high prices of other Greek islands. It’s the largest of them all, with diverse landscapes—mountains, beaches, and historic villages. Rent in smaller towns is surprisingly low, and groceries and meals are budget-friendly if you shop like a local. Healthcare is decent and widely available, and Greek hospitality makes it easy to feel at home. Life here is slow, sunny, and full of flavor. If you dream of olive trees and sea breeze, Crete delivers.

5. Bohol, Philippines

The Philippines is full of affordable islands, but Bohol strikes a great balance between beauty, infrastructure, and cost. English is widely spoken, and the local culture is friendly and welcoming. You can rent a house near the beach for around $300–$500/month and live well on under $1,000 total. There are modern hospitals in nearby Cebu and plenty of things to do—from snorkeling to exploring waterfalls. Bohol is tropical paradise with a budget price tag.

6. Roatán, Honduras

Roatán, part of the Bay Islands, is a diver’s dream and a retirement haven. It’s surrounded by coral reefs, lined with palm trees, and has a growing expat scene. English is commonly spoken, and the island uses the U.S. dollar, making things easier. Rent is low, local markets are cheap, and life moves slow. You’ll find healthcare clinics on the island and hospitals in the nearby mainland city of La Ceiba. It’s peaceful, pretty, and practical.

7. Malta

Malta blends island beauty with European convenience. The island is small but packed with history, charm, and stunning coastlines. English is an official language, the healthcare system is strong, and the climate is mild year-round. Rent and living costs are lower than in much of Western Europe, especially outside the main tourist zones. Public transportation is good, and there’s plenty to explore. Malta is ideal for retirees who want culture with their sea breeze.

8. Ambergris Caye, Belize

If you want to retire where people speak English, the Caribbean is warm, and healthcare is accessible, Ambergris Caye fits the bill. Belize offers a Qualified Retired Persons program that makes long-term stays simple. The island has a laid-back, beach-town vibe with colorful houses and crystal-clear water. Rent ranges from modest to luxury, so you can find your sweet spot. Local produce, seafood, and slow living make life here both affordable and enjoyable. It’s a tropical retreat with familiar comforts.

9. Isla Ometepe, Nicaragua

This volcanic island in Lake Nicaragua is affordable, offbeat, and rich in natural beauty. Rent is low—sometimes under $300/month—and food costs are even lower if you shop local. The community is small but friendly, and it’s a perfect place for those who love nature and simplicity. While healthcare is basic, major services are accessible on the mainland. Life here feels rustic and peaceful. It’s not for everyone—but it’s paradise for the right person.

10. Tenerife, Canary Islands, Spain

Tenerife offers year-round sunshine, good public healthcare, and a cost of living that’s lower than most of Europe. As part of Spain, it’s developed and safe, but it still feels like an island retreat. You can live comfortably on $1,500/month or less, especially if you avoid touristy areas. The beaches, mountains, and small towns offer tons of variety. Plus, Spain’s non-lucrative visa makes it possible for retirees to stay long-term with ease.

11. Caye Caulker, Belize

Caye Caulker’s motto is “Go Slow,” and that’s exactly what retirement here feels like. The island has no cars—just bikes, boats, and flip-flops. Rent can be found under $600/month, and the cost of food and utilities is low. The community is small, tight-knit, and welcoming to expats. It’s a barefoot, rum-and-sea kind of life. If your dream retirement includes hammocks, reggae, and reef snorkeling, Caye Caulker is waiting.

12. Langkawi, Malaysia

Langkawi offers affordability, infrastructure, and tropical beauty all in one. Malaysia’s MM2H (Malaysia My Second Home) visa makes long stays easy, and English is widely spoken. Healthcare is excellent and inexpensive, and you can rent a modern apartment for under $500/month. The beaches are stunning, and there are plenty of quiet spots away from tourist zones. It’s a peaceful, scenic place that feels balanced and well-run. Retirement here feels smart and serene.

13. Koh Samui, Thailand

A step up in development from Koh Lanta, Koh Samui still offers low-cost living with great amenities. There are international hospitals, yoga studios, grocery stores, and cozy beach bars. Rent ranges from $400 to $800/month, depending on location and style. The island has both expat hubs and quieter areas for those who like their peace. It’s a retirement option that gives you the comforts of home—plus coconuts and ocean views.

14. Samos, Greece

This lesser-known Greek island is green, serene, and incredibly budget-friendly. You’ll find vineyards, fishing villages, and beaches that look straight out of a travel magazine. Rent is low, especially if you choose a village over a beachfront location. Food is fresh, cheap, and full of flavor, and the local pace is slow and neighborly. It’s ideal for people who want to blend into local life and enjoy simple pleasures. Samos is small, but its charm is big.

15. Siquijor, Philippines

Often skipped by tourists, Siquijor is a magical little island with waterfalls, white-sand beaches, and a calm vibe. The cost of living is extremely low—you can live well for under $800/month. It’s a great place for introverts, nature lovers, and anyone who wants a slower, more connected kind of life. Healthcare is basic but decent in nearby Dumaguete. The island is peaceful, warm, and welcoming. For a quiet, tropical retirement on a shoestring, Siquijor is a gem.