Hawaii Mortgage Calculator
The median home price in Hawaii is $820,000. With a 20% down payment at the state's average 30-year fixed rate of 6.9%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $4,612. Hawaii's property tax rate of 0.28% annually is below the U.S. national average of 1.07%.
A buyer earning Hawaii's median household income of $88,000 would dedicate roughly 63% of gross monthly income to housing — significantly strained by the standard 28% guideline.
Median Home Price
$820,000
Avg 30-yr Rate
6.9%
Property Tax Rate
0.28%/yr
Est. Monthly PITI
$4,612
Mortgage Calculator
Total Monthly Payment
$4,611.75
Loan Amount
$656,000
Total Paid
$1,555,350
Total Interest
$899,350
How to Get a Mortgage in Hawaii
- 1 Check your credit score. In Hawaii, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $820,000 Hawaii home, 20% down is $164,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Hawaii average 6.9%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $19,680–$32,800 on a median Hawaii purchase.
- 5 Budget for ongoing costs: Hawaii property taxes average 0.28%/yr ($2,296/yr on the median home), plus homeowner's insurance averaging $1.200/yr.
Monthly Cost Breakdown — Median Hawaii Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Hawaii Mortgage FAQs
What is the average home price in Hawaii?
The median home price in Hawaii is $820,000 (2024 estimate). With a typical 20% down payment of $164,000, a buyer would finance $656,000 at a 30-year fixed rate.
What are property taxes like in Hawaii?
Hawaii has an average effective property tax rate of 0.28% of assessed home value. On a $820,000 home, that's approximately $2,296 per year ($191/month) — below the national average of 1.07%.
How much income do I need to buy a home in Hawaii?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Hawaii home, you'd need to earn roughly $197,646 per year. The state's median household income is $88,000, meaning the typical household allocates about 63% of gross income to housing — significantly strained.
What is the average mortgage rate in Hawaii?
The average 30-year fixed mortgage rate in Hawaii is approximately 6.9% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
Related:
National Mortgage Calculator Loan Calculator Investment Return Calculator