Calculate your monthly mortgage payment in Hawaii including principal, interest, and Hawaii's average property tax rate of 0.29%.
Hawaii Property Tax Note: Hawaii has one of the lowest property tax rates in the nation at just 0.29%, but this is offset by extremely high home prices averaging over $820,000. Hawaii's limited land area, geographic isolation, and high demand from both residents and investors make housing among the least affordable in the US. Additional costs include flood/hurricane insurance and a high GET on services.
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Hawaii average: 0.29%
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Hawaii Monthly Payment
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Median Hawaii home ($820,000) — 20% down — 7% rate — 30yr
Component
Monthly
Annual
Principal & Interest
$4,364.38
$52,373
Property Tax (0.29%)
$198.17
$2,378
Homeowners Insurance
$150.00
$1,800
Total PITI
$4,712.55
$56,551
Total interest over 30yr: $915,178. PMI not included.
Monthly property tax on a $400,000 home by state
State
Avg Rate
Monthly/$400k
Alabama
0.41%
$136.67
Alaska
1.04%
$346.67
Arizona
0.62%
$206.67
Arkansas
0.62%
$206.67
California
0.76%
$253.33
Colorado
0.51%
$170.00
Connecticut
1.79%
$596.67
Delaware
0.57%
$190.00
Florida
0.89%
$296.67
Georgia
0.92%
$306.67
Hawaii ★
0.29%
$96.67
Idaho
0.69%
$230.00
Illinois
2.23%
$743.33
Indiana
0.85%
$283.33
Iowa
1.57%
$523.33
Kansas
1.41%
$470.00
Kentucky
0.86%
$286.67
Louisiana
0.55%
$183.33
Maine
1.09%
$363.33
Maryland
1.09%
$363.33
Massachusetts
1.14%
$380.00
Michigan
1.54%
$513.33
Minnesota
1.12%
$373.33
Mississippi
0.81%
$270.00
Missouri
1.01%
$336.67
Montana
0.84%
$280.00
Nebraska
1.73%
$576.67
Nevada
0.55%
$183.33
New Hampshire
1.93%
$643.33
New Jersey
2.23%
$743.33
New Mexico
0.80%
$266.67
New York
1.72%
$573.33
North Carolina
0.80%
$266.67
North Dakota
0.98%
$326.67
Ohio
1.53%
$510.00
Oklahoma
0.88%
$293.33
Oregon
0.87%
$290.00
Pennsylvania
1.49%
$496.67
Rhode Island
1.53%
$510.00
South Carolina
0.57%
$190.00
South Dakota
1.22%
$406.67
Tennessee
0.67%
$223.33
Texas
1.60%
$533.33
Utah
0.52%
$173.33
Vermont
1.83%
$610.00
Virginia
0.87%
$290.00
Washington
0.98%
$326.67
Washington DC
0.55%
$183.33
West Virginia
0.59%
$196.67
Wisconsin
1.76%
$586.67
Wyoming
0.61%
$203.33
Hawaii has one of the lowest property tax rates in the nation at just 0.29%, but this is offset by extremely high home prices averaging over $820,000. Hawaii's limited land area, geographic isolation, and high demand from both residents and investors make housing among the least affordable in the US. Additional costs include flood/hurricane insurance and a high GET on services.
Median home price: $820,000. Average property tax: 0.29%. Cost of living index: 193 (US avg = 100).
The average effective property tax rate in Hawaii is 0.29%. This means on a $820,000 home, you would pay approximately $2,378/year ($198.17/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.
At the Hawaii median home price of $820,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $4,712.55. Using the 28% housing-to-income rule, you would need a gross monthly income of about $16,830.54, or $201,966/year. With less down payment or higher home price, the required income increases.
Hawaii is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.
A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $656,000 loan at 7%, monthly P&I is $4,364.38 (30yr) vs. $5,896.31 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.
Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $2,378/year at Hawaii average rates on a $820,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.
Hawaii Mortgage Math: Property Tax, Insurance, and PITI
Your Hawaii mortgage payment has four components — the PITI breakdown: Principal, Interest, Taxes, and Insurance. Principal and interest are determined by your loan amount, rate, and term. Property tax and homeowners insurance are usually escrowed monthly. In Hawaii, the average effective property tax rate is 0.29% — below the US average of 1.10%.
On the median Hawaii home ($820,000), the property tax line alone runs roughly $2,378 annually — about $198 per month before factoring in any local supplemental levies. Homeowners insurance typically adds $1,200–$2,400/year depending on coverage and risk profile, with hurricane/wildfire-prone areas paying more.
Hawaii Home Prices in National Context
The median home price in Hawaii is $820,000, 95.6% above the US median of $419,200. Relative to Hawaii's median household income of $83,102, the median home costs about 9.9× annual income — a useful affordability benchmark. Home-price-to-income ratios above 5× typically signal a stretched market; below 3× indicates affordability headroom.
Hawaii has one of the lowest property tax rates in the nation at just 0.29%, but this is offset by extremely high home prices averaging over $820,000. Hawaii's limited land area, geographic isolation, and high demand from both residents and investors make housing among the least affordable in the US. Additional costs include flood/hurricane insurance and a high GET on services. Local variation within Hawaii can be substantial — coastal/metro counties typically run well above the state median, while inland and rural counties can sit far below. Use the calculator above with your specific target price, and verify the property tax line by looking up the assessed value and millage rate for your target county.
Affordability Math: How Much Home Can You Actually Carry?
Conventional underwriting caps total housing costs at 28% of gross monthly income (the "front-end" ratio) and total debt at 36%–43% (the "back-end" ratio). On the Hawaii median household income of $83,102, that's a maximum housing budget of about $1,939 per month. With Hawaii's lower-than-average property taxes, that budget supports a mortgage in the range of $207,755–$290,857 at current 30-year fixed rates.
The 20% down payment is a useful benchmark — it eliminates private mortgage insurance (PMI) and signals creditworthiness — but isn't required. FHA loans accept 3.5% down with a credit score of 580+; VA loans (eligible veterans) and USDA loans (rural areas) can offer 0% down. Each path has tradeoffs in upfront fees, ongoing insurance, and rate competitiveness; run the math both ways before committing.
Closing Costs and Ongoing Ownership Costs in Hawaii
Beyond the down payment, budget 2%–5% of the loan amount for closing costs: lender origination fees, title insurance, appraisal, recording fees, prepaid taxes and insurance, and (in some states) transfer taxes. On a $656,000 loan, that's roughly $19,680–$32,800 due at closing. Some sellers will credit closing costs in soft markets — always ask.
Plan for ongoing maintenance reserves of 1%–2% of home value annually — about $12,300/year on the Hawaii median home. HOA dues (if applicable), utilities, and major capital expenses (roof, HVAC, hot water heater) accumulate. The all-in cost of homeownership in Hawaii typically runs 1.3×–1.5× the mortgage payment alone once tax, insurance, maintenance, and major repairs are included over a typical holding period.