I started with an electric. It fit the music I liked back then. Also really helped me get into the whole string instrument scene. Started out with that electric and a cheap amp and cables. Came about to about $300 or so. The big thing for me was that I was able to practice at night(before that I used to play drums, harmonica, sax, etc etc). I eventually bought effect pedals and such, which lead me into repairing my own guitar. And that lead me into building them. Which eventually lead me to the uke.
Electric
-----------------
pros - relatively silent when not plugged in, easier to press, sturdier, a bit more forgiving, (generally) lower action for easier bending, thinner strings
cons - heavier, require electricity/gear to make some actual noise, harder to practice certain techniques like volume control, once you get into effects it gets pricey, forgiving(yes, it's a pro and a con)
Acoustic
------------------
pros - that nice acoustic sound, can have a "personal" sound(like mellow, bright, etc), IMO better for a beginner, easier to hear things like tone and such, more tempting to play a wider range of music on
cons - not very silent, more taxing on a beginner(but for a good reason), must look for a certain sounding acoustic(for picky people like me), not as sturdy but definitely lasting, bigger size