Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Hawaii. Updated for 2026.
Metric
Florida
Hawaii
Median Home Price
$395K
$830K
Property Tax Rate
0.86%
0.28%
Avg Closing Costs
$7K
$12K
Closing Cost %
1.8%
1.5%
Transfer Tax
0.7%
0.2%
Homeowners Insurance
$4,200/yr
$1,200/yr
First-Time Buyer Program
Florida Hometown Heroes
Up to 5% as 0% deferred loan
HHFDC Hula Mae Program
Below-market rate mortgages
Verdict
Hawaii wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Florida has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.