10 Best Islands in the World to Retire on in 2023

In recent years, as global travel has grown in popularity, many seniors have shown an interest in continuing their exploration of the world by retiring overseas.

Others move to other regions in order to increase the amount of money they can spend in retirement or take advantage of new opportunities.

According to recent data from the Social Security Administration, over 700,000 Americans get their benefits from countries other than the United States.

Health care, visa regulations, local culture, taxes, and living costs are all factors to consider while deciding whether to retire on an island. There are so many factors to take into consideration that we recommend you get professional assistance.

In addition, advisors recommend you spend at least several months in a suitable retirement destination before deciding to move to an island.

The United States Department of State is also a valuable resource for anyone considering retirement on an island. This article will discuss 10 of the best islands to retire to.

Before we look into the best islands to retire from, let’s understand what islands are and their characteristics.

What are Islands?
- Types of Islands
Pros and Cons of Retiring on an Island
- Pros of Retiring on an Island
- Cons of Retiring On an Island
10 Best Islands in the World to Retire on in
Conclusion
References

What are Islands?

We refer any region of land that is smaller than a continent and surrounded by water to as an island. Islands can be found in a variety of environments, including oceans, seas, lakes, and rivers. An archipelago is a collection of islands that are linked together.

Islands can be divided into two types: continental islands and oceanic islands. In the ocean, oceanic islands are those that rise to the surface from the ocean basins’ floor levels.

In simple terms, continental islands are just unsubmerged portions of the continental shelf that are completely encircled by the ocean.

Many of the world’s largest islands are of the continental type, as are many of the smaller ones. Greenland, the world’s largest island (840,000 square miles [2,175,000 square kilometers]), is composed of the same materials as the surrounding North American continent, from which a shallow and narrow sea separates it.

Aside from islands, there are other places you could retire. Check out this 15 Best Places to Retire in the World | 2023

Types of Islands

Greenland is the world’s largest island. Similarly, New Guinea, the world’s second-largest island (with an area of 309,000 square miles [800,000 square kilometers]), is a part of the Australian continental platform, and it is separated from it only by the extremely shallow and narrow Torres Strait.

Even a tiny bending of the seafloor near Torres Strait might link New Guinea and Australia; conversely, a slight rise in sea level may submerge a steep coast, leaving the hilltops as small islands just offshore. (such as those off the coast near Boston and the islands off the Maine coast).

Volcanic islands rise from ocean basin floors. Lava builds up to a huge thickness before rising above the ocean surface. Hawaii’s lava stacks soar 32,000 feet (9,700 metres) above the ocean’s surface.

Island living has unique features. Others, once established in their new house, frequently develop new features in their isolated surroundings. A long-established sea barrier causes noticeable changes in animal and plant life, even across neighboring islands, and these variances can reveal an island’s history.

Also, any thorough map of the world’s biological areas shows the importance of islands in defining animal and plant species borders.

A line (Wallace’s Line) runs between Bali and Lombok and between Borneo and Celebes, for example, biologically Asian islands, but Australian vegetation and animal life east of the line, despite the Lombok Strait’s narrowness. Oceanic islands are frequently only inhabited by seabirds and insects.

We generally cover them with dense vegetation, seeded by air, water, or bird currents, although the plant variety is restricted.

Even the best islands to retire to have some features mentioned.

If you want to retire in Texas, knowing the best place to retire will help you make a better choice. Read 15 Best Places To Retire In Texas | 2023

Pros and Cons of Retiring on an Island

Below are the pros cons of retiring on an island;

Pros of Retiring on an Island

1. Appreciation of the Natural World

You can truly experience nature in its fullest on the island, thanks to the breathtaking scenery, the refreshing sea wind, and the tranquil surroundings.

You can easily give yourself the gift of relaxing and meditating for a few minutes.

2. Everyone Is Familiar with Your Name

You have the potential to become a celebrity in your hometown. The experience of living on an island is like that of living in a small town.

When compared to the city, it’s impossible to walk down the street without bumping into someone we know or seeing someone we know. Indeed, this is one of the most significant changes you will probably experience.

3. You Can Spend Less And Save More Money If You Buy Less.

Because of the island’s restricted supply of items and services, you can spend less money overall.

It is possible that you will find this inconvenient at the time, but in the long term, you will adapt to the changes and will appreciate everything.

4. A New Culture and a New Way Of Life.

By getting to know your new group of friends and acquaintances, you are gradually becoming more familiar with their culture.

Attempting to appreciate the other side of your life, allowing yourself to appreciate more valuable things than you have ever appreciated, no matter how small. The best islands to retire from helps you to find this.

5. Slow-Moving Time

The passage of time on the island is far slower than you’d expect it to be. It is very different in the fast-paced city life, when keeping up with deadlines, schedules, and professional obligations is essential.

On the island, you can spend more time with your family, meet a lot of new people, and form new relationships with those that you meet.

This is one of the reasons for retiring on an island. Consider the best islands to retire.

Cons of Retiring On an Island

Yes! Even the best islands to retire have their disadvantages. Below are the disadvantages of retiring on an island;

1. Medical Attention.

The number of clinics in town that can perform minor medical examinations and procedures, such as IV drips, x-rays, and basic wound treatments, is relatively limited.

For major medical procedures, you can take a one-hour ride straight to the island capital; if that is not possible, you can fly or sail back to the nearest city far away from the island that can provide better medical care.

2. Products and services are only available in limited quantities.

Most products and services are only available in major cities and capitals.

The fact that you have to purchase those can be a difficult experience, but you have to accept it! I’m talking about adopting and adapting.

3. There is a lack of infrastructure.

Insufficient phone signal, slow internet connection, poorly developed roads, frequent brownouts, and so on.

Once you arrive on the island, there are a plethora of activities and attractions to take advantage of.

3. The weather is hot and humid.

Weather that wasn’t predicted? In order to cope with the hot and humid climate of the island, you must become acclimated to it.

You’re used to adjusting to the island’s climate, but how’s your skin holding up? Even the best islands to retire can be hot and humid.

4. Bites from insects, as well as wild species

Also, you must monitor some mosquitoes, snakes, jellyfishes, ants, bees, unknown bugs, etc. You may not be aware that some insects can be poisonous, so take care not to be bitten or stung by one.

The best islands to retire have some of these dangerous organisms.

10 Best Islands in the World to Retire on in

The best islands to retire in are not just places, but we fill them with an ambience of tranquility and love. Retiring on these islands will help retirees come back to a life of harmony and relaxation.

These are this is one of the best Islands in the world to retire in;

1. Malta

The little island nation of Malta, with its 122 square miles of land area, is number one on the list of best islands to retire in. It has something to offer everyone, from ancient walled cities and breath-taking coastal paths to countryside farmhouses and beautiful eateries, among other things.

The islands, which have over 155 miles of coastline and are home to several UNESCO World Heritage Sites, enjoy pleasant weather throughout the year.

The presence of an English-speaking community in this area, which is a legacy of British colonization, makes it simple for newcomers to integrate.

Malta has been a sought-after tourist destination for decades, and Valletta, Malta’s capital city and European Capital of Culture 2018, is an appealing site with rolling hills reminiscent of San Francisco, making it an extremely desired destination.

Dollars can go surprisingly far here, with couples living comfortably on $2,600 per month. In addition, this is one of the best Islands in the world to retire

2. Mallorca, Spain

Mallorca is the largest of the Balearic Islands, which form an autonomous Spanish territory right off the coast of the Iberian Peninsula. It is one of the best islands to retire in. It is also the most visited by the islands.

The Gothic cathedral of its capital city, Palma, as well as the hilltop castles that dot the mountainous landscape, as well as Arab structures that date back to the time of the Reconquista, represents this ancient civilization.

You’ll also come across Roman ruins, which serve as reminders of the city’s importance as an outpost of the Roman Empire.

Almost the whole coastline of this island of 1,405 square miles is encircled by marinas, harbors, and natural rock-lined coves that provide seclusion.

It’s the ideal location to set up shop in the western Mediterranean—and the mild climate that prevails throughout the year helps there, too.

A couple can live comfortably in this area for as little as $2,500 per month, depending on their lifestyle.In addition, this is one of the best Islands in the world to retire

3. Penang, Malaysia

The third on this list of best islands to retire in is Penang in Malaysia. For decades, the Malaysian island of Penang, located off the coast of the country, has been a popular destination for savvy expats.

When living on a monthly budget of between $1,500 and $2,500 per month, a couple can live comfortably—even luxuriously—while still enjoying all of the amenities and comforts of home.

Penang’s international airport, which serves as a hub for a large number of low-cost Asian airlines makes traveling further afield in Southeast Asia simple.

Penang’s largest city, George Town, is known as a gastronomic utopia, and it is home to distinctive architecture, a thriving art scene, and some of the world’s best street food, according to several critics.

Aside from that, Penang, as a former outpost of the British empire, has a predominantly English-speaking population. In addition, this is one of the best Islands in the world to retire

4. Ambergris Caye, Belize

Magnificent turquoise seascapes surround ambergris Caye, Belize’s largest island,, making it a popular tourist destination.

During the day, this Caribbean island is a hub for ocean activities, and at night, it becomes a hub for socializing.

Ambergris Caye and the little neighboring islands have not been overdeveloped, which has allowed them to maintain a relaxed atmosphere. On Ambergris Caye, the city of San Pedro is the primary population center.

It is simple to relocate to Belize. It is the only country in Central America where English is the primary language spoken by the majority of the population.

Payment is accepted in U.S. dollars, and credit cards are commonly accepted, as are products from well-known United States brands.

A couple can spend a pleasant retirement in Ambergris Caye for between $2,700 and $2,900 per month, which includes all of their living expenses.

As long as you have your own property on the island, according to expats, it’s possible for a couple to live fairly nicely on less than $2,000 in monthly expenses. In addition, this is one of the best Islands in the world to retire

5. Ireland

The island of Ireland, located on the edge of the Atlantic Ocean and awash in poetry and song, is a first-world, modern country where people take the time to communicate with one another.

It is possible that it will rain at any time, but the Irish weather is not something to be endured; rather, it is something to be enjoyed.

The Atlantic climate has molded the land and its inhabitants. The reason that fields are emerald green and hillsides are ablaze with purple heather is because of this.

The English-speaking population, combined with a warm and hospitable culture, makes the Emerald Isle a welcoming location to call home.

You can get there quickly and it’s a good starting point for exploring Europe from a single location. The Land of a Thousand Welcomes is a place where a retired couple may live pretty nicely on a monthly budget of approximately $2,800.

Also, you can check this: 15 Best Places To Retire In North Carolina | 2023

6. Roatan, Honduras

The largest and most inhabited of the Bay Islands, Roatán, is located 35 miles off the northern shore of Honduras’ Pacific coast.

Roatán, unlike its neighboring Honduras, is primarily English-speaking, owing to the island’s long-standing association with the United Kingdom during its colonial period.

Mountains covered in vegetation give way to white-sand beaches and rocky coves, which are interspersed with colorful fishing communities in the island’s interior.

The island is best known in the western Caribbean as a diving attraction and as a retirement sanctuary for retirees.

Located near offshore, the Mesoamerican Reef offers world-class dive and snorkeling opportunities, which Roatán is famous for. It’s the affordable Caribbean. A couple could live well here on $2,000 to $2,500 a month.

In addition, this is one of the best Islands in the world to retire

7. Isla Mujeres, Mexico

Clear, turquoise waters and white-sand beaches are never far away on the Mexican island of Isla Mujeres, which is roughly eight miles from the city of Cancun.

There is a world of difference between this laid-back island and its more developed neighbor; golf carts are chosen over automobiles as the primary form of transportation.

Isla Mujeres has a warm tropical temperature (low to mid-80s F for most of the year), which means there is lots to do on the island.

Water sports are the most popular, with snorkeling, scuba diving, and sailing among the most popular, as well as fishing and simply relaxing on the beach.

The cost of living is far lower than what a similar lifestyle would cost in the United States. A couple can live a comfortable life on Isla Mujeres for as little as $2,500 to $3,000 per month, which includes all of their living expenses.

In addition, this is one of the best Islands in the world to retire

8. Isla Colon, Panama

Panama’s tropical archipelago is one of the best-kept secrets in the Caribbean, and it may well be one of the most beautiful places on the planet.

Bocas del Toro is a series of nine large islands and a few hundred smaller cays and islets dotting the calm turquoise seas of the Caribbean Sea, close to the border with Costa Rica.

Bocas Del Toro is also an excellent destination to get a taste of the Caribbean lifestyle you’ve been dreaming about. The ex-pat community is warm and inviting, it is well-organized, and it is generous.

A couple may live here for as little as $1,400 a month, renting a basic, charming, island-style cottage that is close to everything.

Bocas Town, located on the vast island of Isla Colon, is the primary center. It is a beach town with brightly painted houses, many of which are built on stilts above the water.

The water is the primary attraction in this area; fishing, water sports, and whale watching are just a few of the favorite pastimes among the inhabitants.

In addition, this is one of the best Islands in the world to retire.

9. Crete, Greece

This is the ideal destination for anyone who wants to get a taste of island life on Crete, which is the largest of Greece’s islands and the 88th largest on the planet.

As a result of the island’s area, which is comparable to that of Delaware in the United States, and its population of over 630,000 people, the island is bustling and energetic all year round, thanks in large part to local industry and agriculture.

For a variety of reasons, Crete is a great retirement destination. Besides the many attractions associated with island living, including world-class beaches, coastal tavernas, and a relaxing atmosphere, it also has an effective and functional medical system, according to the World Health Organization.

Getting proper medical care on a small island can be difficult, but because of the size of the island of Crete, you will have easy access to high-quality care. Given the island’s size and population, you’ll have a wide range of accommodation alternatives.

The cost of living in Crete is basically in line with the cost of living in mainland Greece. A couple can get by on as low as $1,800 per month in this city.

10. Koh Samui, Thailand

The island is noted for its gorgeous beaches and outdoor activities. Many high-end luxury apartments and resorts dot the island. The island offers several attractions besides its stunning beaches.

Koh Samui is one of the greatest islands to retire to due to its low cost of living, stunning scenery, blue beaches, and friendly people from diverse cultures.

Conclusion

As a retiree, an island should be one place to consider for retirement. Choose from the best islands to retire on, as has been mentioned above. Good luck!

References

thestreet.com– 15-best-islands-in-the-world-to-retire-to
britannica.com– island
hexskin.com– the-pros-and-cons-of-island-living