Estimate your monthly mortgage payment in Hawaii — principal & interest plus Hawaii property tax and homeowner’s insurance.
Buying a home in Hawaii: what to know
Hawaii is the nation’s priciest housing market, with a typical home value of $833,340 (Zillow ZHVI, August 2026), more than double the national figure. The offset is the lowest effective property tax rate in the country at 0.29%, which keeps the tax line surprisingly small relative to the price. Homeowner’s insurance averages about $1,431 a year (NAIC 2022), though hurricane deductibles and lava-zone surcharges raise real costs in exposed areas. The Hawaii Housing Finance and Development Corporation (HHFDC) helps first-time resident buyers through the Hale Kamaaina mortgage (formerly Hula Mae) with below-market rates and down payment assistance.
Hawaii mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $1,249,125Hawaii’s 2026 conforming baseline is the statutory $1,249,125 for a one-unit home. Kalawao and Maui counties are designated high-cost areas with a 2026 limit of $1,299,500. |
| Median home price | $833,340 |
| Median effective property tax rate | 0.29% |
| Average homeowner’s insurance | $1,431/year |
Data as of October 2026. Sources: FHFA 2026 conforming limits (Nov 2025 announcement); Zillow ZHVI Aug 2026 (via Honolulu Reporter county series); Tax Foundation Property Taxes by State and County 2026 (2024 ACS); NAIC 2022 HO-3 premiums via Insurance Information Institute (May 2025); HHFDC program materials.; rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Hawaii first-time buyer programs
- HHFDC Hale Kamaaina Mortgage Program (formerly Hula Mae) — 30-year fixed-rate first mortgage at below-market rates for first-time Hawaii resident buyers, funded through tax-exempt mortgage revenue bonds. Offers optional down payment assistance as a deferred soft second mortgage; income and purchase-price limits apply. Official site
- HHOC Down Payment Assistance Loan (DPAL) — Second loan of up to $125,000 for down payment and closing costs, structured as deferred or low-interest financing. Must be paired with a Hula Mae/Hale Kamaaina first mortgage through a participating lender. Official site
How to use this calculator
The calculator is pre-filled with Hawaii’s $833,340 typical home value, the 0.29% effective property tax rate, and $1,431 per year for homeowner’s insurance. Hawaii’s 2026 conforming baseline is $1,249,125, rising to $1,299,500 in Kalawao and Maui counties, so the calculator flags loans above the applicable limit as jumbo. At these prices, even a one-point rate difference moves the monthly payment by hundreds of dollars, so use the rate slider to compare scenarios carefully.
Worked example: a median Hawaii home
Take a median-priced Hawaii home at $833,340. With 20% down ($166,668.00), the loan amount is $666,672.00. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $4,615.90/month. Add property tax of about $201.39/month (0.29% of $833,340, divided by 12) and insurance of about $119.25/month ($1,431 a year), for a total estimated payment of $4,936.54/month. Over 30 years, total interest would be about $995,052.81. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the 2026 conforming loan limit in Hawaii?
Hawaii’s 2026 baseline is $1,249,125 for a one-unit home under federal statute. Kalawao and Maui counties are designated high-cost areas with a higher 2026 limit of $1,299,500.
How much are property taxes in Hawaii?
Hawaii has the lowest median effective property tax rate in the nation at about 0.29% (Tax Foundation 2026), roughly $2,417 a year on the $833,340 typical home. Each county sets its own rate classes, and Honolulu applies a higher Residential A tier to high-value homes.
What first-time homebuyer programs does Hawaii offer?
HHFDC’s Hale Kamaaina program (formerly Hula Mae) offers below-market 30-year fixed mortgages plus down payment assistance for first-time Hawaii residents, and the HHOC DPAL can add up to $125,000 in deferred second-loan assistance. County programs, such as Hawaii County’s down payment assistance, add local options.
How much does homeowner’s insurance cost in Hawaii?
The average HO-3 premium was about $1,431 a year in 2022 (NAIC via III). Many policies carry hurricane deductibles set as a percentage of the dwelling limit, and Big Island homes in lava zones can face exclusions or steep surcharges, so get quotes early.
What is the leasehold vs. fee simple issue in Hawaii?
Many Oahu condos and some houses are sold as leasehold, meaning you own the structure but lease the land, with monthly lease rent on top of the mortgage. Leasehold properties finance differently and can carry higher rates, so verify tenure before running your numbers.