What are average mortgage rates in Hawaii in 2026?

Mortgage rates in Hawaii generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Hawaii mortgage calculator to model your payment at current rates.

How much are closing costs in Hawaii?

Closing costs in Hawaii typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Hawaii mortgage calculator to include closing costs in your calculation.

What are property tax rates in Hawaii?

Property tax rates in Hawaii range from 0.3% to 2.5% of assessed value. CalcDeck's Hawaii calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Hawaii?

Hawaii offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Hawaii calculator to see how programs affect your payment.

How do I use the CalcDeck Hawaii mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Hawaii averages. Get instant monthly payment, total interest, and amortization schedule.

Hawaii Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Hawaii homeowners.

Hawaii at a Glance

Median Home Price: $834,000
Property Tax Rate: 0.31%
Median Household Income: $95,248
Annual Property Tax: $2,585

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Hawaii

Based on the Hawaii median home price of $834,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$667,200	$792,300
Principal and Interest	$4,305	$5,113
Property Tax (HI)	$215	$215
Homeowners Insurance	$125	$125
PMI	$0	$330
Total Monthly	$4,646	$5,783

How Much House Can You Afford in Hawaii?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$199,103/year to afford Hawaii's median home
With 5% down, you need ~$247,848/year
Hawaii's median household income is $95,248

Hawaii insight: Hawaii has a low property tax rate of 0.31% — among the lowest in the US.

Hawaii Housing Market Overview

Hawaii's housing market is the most expensive in the U.S., with a median home price of $834,000. Oahu's median exceeds $920,000, Maui $1.1 million, Kauai $950,000, and even the Big Island (Hilo area) is around $480,000. Inventory is critically tight at 1.8 months of supply. The median household income of $95,248 yields a price-to-income ratio of 8.8—far above any affordability threshold. The effective property tax rate of 0.31% is the lowest in the nation, making annual taxes on a median home only $2,585. However, HOA fees are ubiquitous in Hawaii—condo maintenance fees often run $500–$1,200/month. Many working residents rely on multigenerational living arrangements to afford homeownership.

First-Time Homebuyer Programs in Hawaii

The Hawaii Housing Finance and Development Corporation (HHFDC) offers several first-time homebuyer programs. The Hawaii Homeownership Program provides 30-year fixed-rate mortgages with below-market rates and down payment assistance of up to $50,000 for income-qualified buyers in designated affordable housing projects. The Residential Rehabilitation Loan Program offers zero-interest loans up to $40,000 for renovating existing homes. HHFDC also administers the Mortgage Credit Certificate (MCC) program providing a 20% federal tax credit on mortgage interest. Local county programs include Honolulu's Liveable Communities program ($25,000 grants) and Maui's First-Time Homebuyer Program ($30,000 assistance). Income limits are strict: Honolulu County caps at $109,800 for a two-person household for most programs.

Tips for Homebuyers in Hawaii

1) Hawaii's 0.31% property tax is the lowest in the U.S.—on a $834,000 home, taxes are only ~$215/month, but HOA fees can dwarf this amount. 2) Volcano zones on the Big Island affect insurance—Zone 1 (Kilauea-adjacent) makes obtaining fire insurance difficult or impossible; verify coverage. 3) Leasehold vs. fee simple: many Hawaii condos and even single-family homes are leasehold—you own the building but not the land, with lease rents escalating over time. 4) Inventory peaks January–March after the holidays; summer (June–August) sees the least activity. 5) Termites (Formosan subterranean) are devastating in Hawaii; a WDI inspection is essential, and annual treatment runs $400–$600. 6) Lava flow hazard zones are mapped by the USGS—check them before buying on the Big Island, as lava zones affect insurance and resale.

Try the Mortgage Calculator with Your Numbers

Hawaii Mortgage FAQ

What is the median home price in Hawaii?

The median home price in Hawaii is approximately $834,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Hawaii?

The effective property tax rate in Hawaii is approximately 0.31% (Tax Foundation). On a $834,000 home, that is about $2,585/year in property taxes.

How much income do I need to buy a home in Hawaii?

Using the 28/36 rule with 20% down at 6.7%, you would need about $199,103/year to afford the median Hawaii home at $834,000. With 5% down (including PMI), about $247,848.

What will my monthly mortgage payment be in Hawaii?

On Hawaii's median home price of $834,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $4,646. With 5% down including PMI, about $5,783.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.