Estimated Monthly Payment — Median Hawaii Home
$5,362
Based on $850,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$850,000
Property Tax
0.31%
Avg. HOA
$400/mo
Median Rent
$2,200/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Hawaii housing market
Hawaii's housing market is among the most expensive in the nation, with a median home price around $850,000. Honolulu is the largest metro, with Hilo a close second. Hawaii has the lowest effective property tax rate in the country, but among the highest median home prices — and limited land supply keeps prices high. Hawaii's effective property tax rate of 0.31% is one of the lowest in the country.
The median Hawaii home costs $850,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $4,388, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $5,362. First-time buyers in Hawaii can explore programs through Hawaii HFA.
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FAQ
Hawaii mortgage FAQs
What's the property tax rate in Hawaii?
Hawaii's effective property tax rate averages about 0.31% — one of the lowest in the country. On a $850,000 home, that's roughly $220/month or $2,635/year.
How much do I need to earn to afford a typical Hawaii home?
Using the 28/36 rule, a buyer would need roughly $201,000–$257,000 in gross annual income to comfortably afford Hawaii's $850,000 median home with 20% down at current rates.
What first-time buyer programs are available in Hawaii?
HHFDC offers the Mortgage Credit Certificate program (claiming up to 20% of mortgage interest as federal tax credit) and Hula Mae Multi-Family loan program. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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