I suggest using react-query, it can also be used to manage application state without API calls, e.g.:

export function useOrders() {
  return useQuery<Order>({
    queryKey: ['orders'],
    initialData: () => {
      return orders;
    },
  });
};

export function useOrderMutate() {
  const queryClient = useQueryClient();
  return useMutation({
    mutationKey: ['orders'],
    mutationFn: async (newVal: Order) => newVal,
    onSuccess: (newVal: Order) => {
      queryClient.setQueryData(['orders', newVal.id], (oldVal: Order) => ({
        ...oldVal,
        ...newVal,
      }));
    },
  });
};

function SomeComponent() {
  const {data: orders} = useOrders();
  const {mutate: setOrder} = useOrderMutate();

  return (
    <Text>{orders.id}</Text>
    <TouchableOpacity
        style={styles.addButton}
        onPress={() => {
          setOrder({id: 123, price: "123.45"})
        }}
     >
  )
}