Compare Honolulu, HI mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Honolulu.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Honolulu. Plus, shopping lenders is free and there is no obligation.
September 28, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Honolulu. Understand how much you need to earn to afford a home in Honolulu, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Honolulu fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Honolulu is right for you.
The median home value for Honolulu, HI is $916,035
Based on current mortgage rates and a 10% down payment, you need to make $191,100 per year to buy the median priced home in Honolulu
With this income, you could qualify for a $824,432 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Honolulu is $4,426
The median household income for Honolulu, HI is $92,028
Based on this income, you can afford a home valued at approximately $441,137
The home price you can afford to buy based on household income in Honolulu is 48% of the median home value which means housing prices are very expensive. Honolulu ranks 2 out of 5 counties in Hawaii and 3,127 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Honolulu, HI is very expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Honolulu below.
Conforming loan limits for Honolulu, HI
FHA loan limits for Honolulu, HI
VA loan limits for Honolulu, HI