Hawaii, HI

Hawaii Mortgage Calculator

Estimate your complete monthly payment in Hawaii including taxes, insurance & PMI

🏠 Avg Home Price: $720,000
🏛️ Property Tax: 0.28%
🛡️ Insurance: $1100/yr
📍 Largest City: Honolulu
Hawaii Mortgage Calculator
Home Price
$50K$2M
Down Payment
3%60%
Interest Rate
1%15%
Loan Term
Property Tax (Annual)
Hawaii avg: 0.28% — $2016/yr
Home Insurance (Annual)
Hawaii avg: $1100/year
HOA Fees (Monthly)
PMI Rate
Required if down payment < 20%

Amortization Schedule

Show / Hide
YearPrincipal PaidInterest PaidRemaining Balance
Your Monthly Payment
$0
Principal · Interest · Taxes · Insurance
Principal & Interest—
Property Tax—
Home Insurance—
PMI—
HOA—
Loan Amount—
Total Interest—
Total Cost—
—
P&I share
Hawaii Housing Market
  • 🏠
    Avg Home Price
    $720,000
  • 📈
    Property Tax
    0.28% annually
  • 🛡️
    Home Insurance
    $1100/year
  • 📍
    Major City
    Honolulu
  • 🗺️
    State Code
    HI
Hawaii Mortgage Tips
  • ✅
    Get pre-approved before house hunting in Hawaii
  • ✅
    Compare at least 3–5 lenders for best rate
  • ✅
    Check Hawaii first-time buyer programs
  • ✅
    Budget 0.28% property tax into monthly costs
  • ✅
    Consider mortgage recast to lower payments
Current Rates 2026
  • 📊
    30-Year Fixed
    ~6.5% – 7.0%
  • 📊
    15-Year Fixed
    ~5.7% – 6.2%
  • 📊
    FHA Loan
    ~6.2% – 6.8%
  • 📊
    VA Loan
    ~5.9% – 6.4%
  • 📊
    Jumbo Loan
    ~6.8% – 7.4%

Hawaii Mortgage Calculator – Complete 2026 Guide

Buying a home in Hawaii is one of the most significant financial commitments you'll make. Whether you're a first-time homebuyer in Honolulu or refinancing an existing property, accurately estimating your monthly mortgage payment is essential for smart financial planning. Our Hawaii Mortgage Calculator gives you a complete picture of your monthly costs — including principal, interest, property taxes at Hawaii's 0.28% average rate, homeowners insurance, HOA fees, and PMI if applicable.

📌 Quick Estimate: On a $720,000 home in Hawaii with 20% down ($144,000) and a 6.8% interest rate on a 30-year loan, your estimated monthly payment is approximately $4015/month (PITI — Principal, Interest, Taxes & Insurance).

How to Use the Hawaii Mortgage Calculator

Simply enter your details into the calculator above. Here's what each field means for Hawaii homebuyers:

  • Home Price: The purchase price. Average home price in Hawaii is $720,000.
  • Down Payment: 20% = $144,000 — avoids PMI on your Hawaii mortgage.
  • Interest Rate: 2026 average in Hawaii is ~6.5%–7.0% for a 30-year fixed loan.
  • Loan Term: 30 years is most common for lower payments; 15 years saves interest.
  • Property Tax: Hawaii averages 0.28% = $2016/year on a $720,000 home.
  • Home Insurance: Hawaii average is $1100/year ($92/month).

Hawaii Property Taxes Explained

Property taxes in Hawaii are calculated as a percentage of your home's assessed value. Hawaii's average effective rate of 0.28% means on a $720,000 home, you pay approximately $2016 per year or $168 per month in property taxes. Rates vary by county — always verify with your Hawaii county assessor's office.

Monthly Cost Breakdown for Hawaii

Payment ComponentMonthlyAnnual
Principal & Interest (6.8%, 30yr)$3755$45,060
Property Tax (0.28%)$168$2016
Home Insurance$92$1100
Total PITI Payment$4015$48,180

Income Needed to Buy a Home in Hawaii

Lenders typically use the 28% front-end DTI rule — your total housing payment (PITI) should not exceed 28% of your gross monthly income.

  • Estimated monthly payment for average Hawaii home: $4015
  • Required annual gross income (28% rule): $160,929
  • Assumes 20% down payment of $144,000 and 6.8% rate

Hawaii Mortgage Rates 2026

Loan TypeAvg Rate (2026)Best For
30-Year Fixed6.5% – 7.0%Lower monthly payments
15-Year Fixed5.7% – 6.2%Pay off faster, save on interest
FHA 30-Year6.2% – 6.8%Lower credit, 3.5% down
VA Loan5.9% – 6.4%Veterans, 0% down
USDA Loan6.0% – 6.5%Rural Hawaii, 0% down

Mortgage Recast vs Refinance in Hawaii

If you already own a Hawaii home and want a lower payment:

  • Refinance: New loan at potentially lower rate — requires full underwriting, appraisal, 2%–5% in closing costs.
  • Mortgage Recast: Lump-sum payment toward principal, re-amortized at same rate. Only $150–$500 fee. No credit check. Must have conventional loan.

🔄 Use our Free Mortgage Recast Calculator to see how much you could save on your Hawaii mortgage.

Frequently Asked Questions

Everything you need to know about mortgages in Hawaii

What is the average mortgage payment in Hawaii?+
Based on Hawaii's average home price of $720,000 with a 20% down payment ($144,000) and 6.8% on a 30-year mortgage, the estimated monthly PITI payment is $4015. This includes $3755 principal & interest, $168 property tax (0.28%), and $92 insurance. Your actual payment depends on your specific loan terms, credit score, and location within Hawaii.
What is the property tax rate in Hawaii?+
Hawaii has an average effective property tax rate of 0.28% per year. On a $720,000 home that's $2016 per year ($168/month). County rates vary — check your local Hawaii county assessor's office for the precise rate in your area.
How much down payment do I need in Hawaii?+
For a $720,000 Hawaii home your options are:
  • 3.5% FHA: $25,200 — requires PMI
  • 5% Conventional: $36,000 — requires PMI
  • 10%: $72,000 — lower PMI
  • 20%: $144,000 — no PMI!
  • 0% VA/USDA: $0 — for eligible veterans & rural areas
How much income do I need to afford a home in Hawaii?+
Using the 28% debt-to-income rule, you need approximately $160,929 gross annual income to comfortably afford a $720,000 home in Hawaii with 20% down. This means your monthly housing costs ($4015) don't exceed 28% of your gross monthly income. Your actual qualifying income may differ based on debt, credit score, and lender.
Can I use a mortgage recast in Hawaii?+
Yes! Hawaii homeowners with conventional loans (Fannie Mae/Freddie Mac) can recast their mortgage. Make a lump-sum principal payment (typically $5,000+ minimum), and your lender re-amortizes the balance at the same rate — lowering your monthly payment with a small fee ($150–$500). Note: FHA, VA, and USDA loans are generally not eligible for recasting in Hawaii.
What is PMI and when is it required in Hawaii?+
PMI (Private Mortgage Insurance) is required in Hawaii when your down payment is under 20%. It typically costs 0.3%–1.5% of the loan per year — on a $576,000 Hawaii loan that's roughly $$720 per month. PMI is automatically removed once you reach 20% equity in your Hawaii home. Use our PMI Calculator to estimate your exact cost.
30-year vs 15-year mortgage in Hawaii — which is better?+
On a $576,000 Hawaii loan:
  • 30-Year at 6.8%: ~$3755/month — lower payment, total interest: $775,800
  • 15-Year at 6.0%: ~$4,861/month — higher payment but saves tens of thousands in interest
Choose 30-year if cash flow is important. Choose 15-year if you want to build equity fast and save on interest.
What are current mortgage rates in Hawaii for 2026?+
As of 2026, Hawaii mortgage rates average:
  • 30-Year Fixed: ~6.5% – 7.0%
  • 15-Year Fixed: ~5.7% – 6.2%
  • FHA 30-Year: ~6.2% – 6.8%
  • VA Loan: ~5.9% – 6.4%
  • Jumbo: ~6.8% – 7.4%
Always compare quotes from multiple Hawaii lenders. Even 0.25% difference can save thousands over your loan life.

Related Calculators

🔄
Mortgage Recast
 💰
Mortgage Payoff
 🛡️
PMI Calculator
 📊
Recast Savings