Hawaii Mortgage Calculator

Calculate your monthly mortgage payment in Hawaii. Pre-filled with Hawaii's average property tax rate of 0.28%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$82
Homeowner's Insurance
$100
Total Monthly Payment
$1,951

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $1,951/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Hawaii Housing Overview

Hawaii has an average property tax rate of 0.28%. Hawaii has the highest cost of living of any state, approximately 86% above the national average, driven by housing, food, and energy costs.

Property Tax: 0.28%Second-highest top rate (11%)TDI payroll taxExtremely high cost of living

Buying a Home in Hawaii

If you're considering buying a home in Hawaii, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Hawaii's average property tax rate of 0.28% to give you a more accurate estimate.

Hawaii Property Taxes

Hawaii has an average effective property tax rate of 0.28%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.28% rate means approximately $980 per year, or $82 per month in property taxes alone.

Cost of Living in Hawaii

Hawaii has the highest cost of living of any state, approximately 86% above the national average, driven by housing, food, and energy costs. When evaluating whether to buy a home in Hawaii, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Hawaii Homebuyers

  • Hawaii's top rate of 11% means high earners face a significant state tax burden
  • Hawaii's TDI payroll tax adds to the overall deduction from your paycheck
  • The extremely high cost of living in Hawaii requires careful budgeting
  • Consider that Hawaii has lower property taxes than most states despite high home prices

Key Hawaii Features

  • Second-highest top rate (11%)
  • TDI payroll tax
  • Extremely high cost of living
  • Lower property taxes relative to home values

See How Your Hawaii Mortgage Fits Your Financial Plan

This calculator shows your Hawaii mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Hawaii Mortgage Costs with Other States

Texas1.80% property taxFlorida0.89% property taxTennessee0.66% property tax

Frequently Asked Questions

What is the average property tax rate in Hawaii?
The average effective property tax rate in Hawaii is approximately 0.28%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Hawaii's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Hawaii?
Your mortgage payment in Hawaii depends on the home price, your down payment, interest rate, and loan term. With Hawaii's average property tax rate of 0.28%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Hawaii an affordable state to buy a home?
Hawaii has the highest cost of living of any state, approximately 86% above the national average, driven by housing, food, and energy costs. When evaluating affordability in Hawaii, consider not just the home price but also property taxes (0.28% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Hawaii property taxes compare to other states?
Hawaii's average property tax rate of 0.28% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Hawaii?
Most states, including Hawaii, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Hawaii's housing authority and the FHA, VA, and USDA loan programs for additional options.

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