Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Hawaii homebuyers.
Pre-filled with Hawaii medians. Adjust for your property.
Estimated closing costs based on Hawaii tax rates and fees.
The median home price in Hawaii is $830,000, with property taxes averaging 0.28% annually. Hawaii's low property tax rate is a major advantage for buyers, keeping monthly costs well below what you'd pay in high-tax states.
Closing costs in Hawaii average $12K (1.5%% of purchase price). The state charges a 0.2% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $1,200 per year. This is within the normal range nationally.
Hawaii offers the HHFDC Hula Mae Program for first-time buyers: Below-market rate mortgages. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Hawaii is a higher-cost market. At $830K median, buyers need significant savings or strong income. Down payment assistance and competitive rate-shopping become especially important.