Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Hawaii and New York. Updated for 2026.
Metric
Hawaii
New York
Median Home Price
$830K
$430K
Property Tax Rate
0.28%
1.72%
Avg Closing Costs
$12K
$12K
Closing Cost %
1.5%
2.8%
Transfer Tax
0.2%
0.8%
Homeowners Insurance
$1,200/yr
$2,100/yr
First-Time Buyer Program
HHFDC Hula Mae Program
Below-market rate mortgages
SONYMA Achieving the Dream
Up to $15,000 DPAL
Verdict
Hawaii wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, New York 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.