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Mortgage rates in Hawaii

Interest rates that historically come in slightly below the national average.

Conventional 30-year mortgages in the Aloha State average 4.474%. And interest rates are expected to fall in the upper 3% in the upcoming year.

How much do Hawaii rates vary?

Hawaii mortgage rates averaged between 4.000% and 4.537% in 2018. Rates depend on many factors including your credit, loan terms and amount. However, Hawaiian mortgage rates don’t vary significantly between loan types.

2018 average rates in Hawaii by loan type

Loan type15-year average rate30-year average rate
FHANot available4.487%
USDANot available4.486%

Rates based on data from

Even a fraction of a percentage difference in interest rate can translate to substantial savings. And a shorter loan term can also mean thousands of dollars in your pocket.

For example, suppose you borrow $475,000 for 30-years. Conventional mortgages at the 2018 average interest rate come in at 4.537%, so you could pay $2,420 a month, excluding taxes and fees. If you chose a 15-year loan term instead, your interest rate might be lower, and your monthly payment might jump to $3,540.

Although you might be footing a higher monthly bill, you could save $233,550 in interest payments over the course of the loan.

Average Hawaii mortgage rates shouldn’t stray too far from the upper 3% threshold.

Hawaii mortgage rates historically come in under the national average. Between 2003 and 2009, Hawaii had a particularly volatile performance, averaging 0.29% below the rest of the country. But since 2010, average mortgage rates have leveled out and hopscotched right around the national average.

Freddie Mac is predicting 30-year US rates to average 3.70%, while Fannie Mae is calling for average rates of 3.60%. We can expect Hawaii mortgage rates to average around the upper 3% level too.

Compare mortgage rates throughout Hawaii

The Aloha State has two primary metropolitan areas across the islands. Using data from the Home Mortgage Disclosure Act, we estimated what a 30-year fixed-rate mortgage might look like in Hawaii. These costs don’t account for taxes and fees unique to your home loan.

Urban Honolulu has a slightly higher median loan amount than the Kahului-Wailuku-Lahaina area. But since it also has a slightly lower average mortgage rate, the monthly cost between the two regions are very similar.

Metropolitan statistical areaAverage mortgage rateMedian loan amountEstimated monthly cost
Urban Honolulu4.452%$485,000$2,440

Rates and costs based on data from

How to get the best mortgage rate in Hawaii

Lenders have a lot of control over your loan’s interest rate. Here are a few tips to help you get the most competitive rate possible.

  1. Ask about different loan programs. Lenders have an assortment of loan programs with varying interest rates. Find out what loan products you may qualify for to find the best deal.
  2. Fine-tune your credit. Eliminate debt and boost your credit score to qualify for a more competitive rate.
  3. Weigh the closing costs. Average closing costs in Hawaii can run about 0.82% to 0.92% of the final purchase price. Consider these charges when evaluating the true cost of the home loan.

Historical mortgage interest rates in Hawaii

Compare mortgage lenders and brokers

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

Bottom line

Hawaii mortgage rates generally follow or come in slightly under the national average. But lenders ultimately dictate your interest rate. Compare loan programs and lenders to find the most competitive rate for your homeownership goals.

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