Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Hawaii and New Jersey. Updated for 2026.
Metric
Hawaii
New Jersey
Median Home Price
$830K
$505K
Property Tax Rate
0.28%
2.47%
Avg Closing Costs
$12K
$10K
Closing Cost %
1.5%
2.0%
Transfer Tax
0.2%
1%
Homeowners Insurance
$1,200/yr
$1,500/yr
First-Time Buyer Program
HHFDC Hula Mae Program
Below-market rate mortgages
NJHMFA DPA Program
Up to $15,000 forgivable
Verdict
Hawaii wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, New Jersey 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.