Well, it all depends, really. It depends on the skill and reputation of the designer - some people will charge $20 for an HTML page, some will charge $500.
What's going to get really expensive is the store - especially if you want something custom programmed. That would get well into the thousands, I bet. I don't do programming, personally, so I can't say. There are scripts and systems that can be used for that, which would reduce costs significantly, but might look less professional.
Also, with daily updates, it depends on who is doing those updates. If you're going to hire the designer to update your site on a regular basis, they'll charge you a smallish monthly fee for that. On the other side, someone could set up a content management system for you - there are many free CMSs out there, though, so the only charge would be setting up the CMS and getting it working so you could do the regular updates.
As for the hosting, if I were the designer, I would personally be willing to set up and manage that for the cost of hosting (anywhere from $5-$100 per month, depending on the sort of plan the site requires and the amount of business you intend to have) plus an additional monthly cost for my time.
I haven't really broken into anything but static XHTML/CSS sites with some PHP, so I'm not the best source, but I'd be willing to bet a project like this would cost (depending on specifics) anywhere from several hundred to many thousand dollars - most likely the latter - with a possible monthly fee for updates, hosting, and administration.
I recommend finding a designer/developer who is capable of the things you want and to sit down with them and discuss.
EDIT: I'm actually very interested in what other, more experienced types, might charge...