Mortgage Calculator – Hawaii
Hawaii has the highest median home prices in the United States, driven by limited land availability and strong housing demand.
This Hawaii mortgage calculator helps you estimate realistic monthly payments by including loan terms, interest rates, property taxes, and insurance costs.
Mortgage Calculator – Hawaii
Why Mortgage Costs in Hawaii Are the Highest
Hawaii’s limited land supply and high construction costs push home prices far above the national average.
Property tax rates are relatively low, but high property values still result in significant monthly payments.
Insurance costs can be higher due to hurricane exposure and coastal risks.
Hawaii Mortgage Examples
Example 1: A $850,000 home with 20% down at 6.9% over 30 years may result in a monthly payment around $4,200 including taxes and insurance.
Example 2: Condos may offer lower purchase prices but often include HOA fees not covered by this calculator.
Example 3: Buyers relocating from the mainland often underestimate the true cost of homeownership in Hawaii.
15-Year vs 30-Year Mortgage in Hawaii
| Factor | 15-Year Loan | 30-Year Loan |
|---|---|---|
| Monthly Payment | Much higher | Lower |
| Total Interest | Much lower | Much higher |
| Best For | High-income buyers | Cash-flow flexibility |
Frequently Asked Questions – Hawaii Mortgage
Are homes expensive in Hawaii?
Yes. Hawaii has the highest median home prices in the U.S.
Does this Hawaii mortgage calculator include taxes?
Yes. You can include estimated property tax and insurance costs.
Are property taxes low in Hawaii?
Yes. Hawaii has relatively low property tax rates.
Do Hawaii buyers need PMI?
PMI may apply if your down payment is below 20%, depending on loan type.
Are mortgage rates higher in Hawaii?
Rates generally follow national trends.
Does this calculator include HOA fees?
No. HOA fees are common in Hawaii and should be budgeted separately.
Is refinancing common in Hawaii?
Yes. Homeowners refinance to reduce rates or adjust loan terms.
Do coastal risks affect insurance costs?
Yes. Hurricane and flood risks can increase insurance premiums.
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Disclaimer
This calculator provides estimates for educational purposes only and does not constitute financial, legal, or tax advice.