Watcharu Finance

Hawaii mortgage calculator

The median home in Hawaii runs about $830,000. With 20% down that's a loan near $664,000 — the calculator is pre-filled with that figure. Hawaii has the lowest effective property tax rate in the nation, but it is applied to the highest median home price, so the dollar bill is far from the lowest. The state uses a general excise tax rather than a sales tax and gives no trade-in credit.

$4,311.11 / month

Total interest
$887,995
Total paid
$1,551,995
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$166k$332k$498k$664k0612182430Year

How it works

A full Hawaii payment is more than principal and interest. At the state's 0.29% effective property tax rate, a $830,000 home owes about $2,407 a year in tax, and homeowners insurance averages roughly $1,100 a year here. Together those add about $292 to the monthly payment before any HOA dues or PMI.

Hawaii's median household income is about $95,000, or $7,917 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,217 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Hawaii sell in about 55 days on average.

Frequently asked questions

What is a typical mortgage payment in Hawaii?
On the state's roughly $830,000 median home with 20% down, the loan is about $664,000. Principal and interest depend on your rate; on top of that, Hawaii's 0.29% effective property tax rate and about $1,100 a year in homeowners insurance add roughly $292 per month to the payment.
How much are property taxes on a home in Hawaii?
Hawaii's effective property tax rate averages about 0.29% of market value — roughly $2,407 a year on the $830,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Hawaii?
The average Hawaii homeowners policy runs about $1,100 a year. Hawaii has the lowest effective property tax rate in the nation, but it is applied to the highest median home price, so the dollar bill is far from the lowest. The state uses a general excise tax rather than a sales tax and gives no trade-in credit.
Can I afford a home in Hawaii on the median income?
Hawaii's median household income is about $95,000 a year, or $7,917 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,217 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Hawaii?
A for-sale home in Hawaii spends about 55 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

Other Hawaii calculators

Related calculators

Mortgage calculator for another state

← Full calculator & all states