# Hawaii mortgages: loan limits, payments and state help

> Hawaii mortgage numbers: $1,249,125 conforming limit, 0.27% effective property tax, the payment on a median home and HHFDC’s Hale Kamaʻāina loans.

URL: https://mail.mortgage-math-us.com/location/hawaii/  
Last reviewed: 2026-10-29 · By the MortgageMath US Editorial team

## Quick answer

The median owner-occupied home in Hawaii is worth $875,900. With 10% down at the 7.24% national average rate it costs about **$6,321 a month**, and principal and interest are 85% of that because property tax runs only 0.27% of value. Conforming loans go up to $1,249,125 in Hawaii ($1,299,500 in Maui and Kalawao counties), and FHA limits can reach $1,873,625, against $832,750 and $1,249,125 for most of the mainland.

## Key facts

| Fact | Value | Source | As of |
|---|---|---|---|
| Median home value in Hawaii | $875,900 | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=040XX00US15) | 2024 ACS 1-year |
| Median household income | $100,745/yr | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=040XX00US15) | 2024 ACS 1-year |
| Effective property tax rate | 0.27% | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=040XX00US15) | 2024 ACS 1-year |
| 2026 conforming limit (most counties) | $1,249,125 | [FHFA: 2026 conforming loan limits by county](https://www.fhfa.gov/document/d/cll/fullcountyloanlimitlist2026_hera-based_final_flat.pdf) | 2026 limit |
| 2026 conforming limit, Maui and Kalawao | $1,299,500 | [FHFA: 2026 conforming loan limits by county](https://www.fhfa.gov/document/d/cll/fullcountyloanlimitlist2026_hera-based_final_flat.pdf) | 2026 limit |
| 2026 FHA limit ceiling in Hawaii | $1,873,625 | [HUD Mortgagee Letter 2025-23: 2026 Nationwide Forward Mortgage Loan Limits](https://www.hud.gov/sites/dfiles/hudclips/documents/2025-23hsgml.pdf) | 2026 limit |
| Hale Kamaʻāina price limit, Honolulu | $866,346 | [HHFDC: Hale Kamaʻāina eligibility, income and purchase price requirements](https://dbedt.hawaii.gov/hhfdc/hale-kama%ca%bbaina-mortgage-program-eligibility-income-and-purchase-price-requirements/) | Jun 13, 2026 |

## Hawaii prices against Hawaii incomes

Hawaii’s median home value is the highest of the 50 states and DC, and its median household income of $100,745 is above the national figure. Incomes do not close the gap: the median home costs 8.7 times the median income, against 4.4 for the US — the widest ratio in the country.

*Hawaii compared with the US (Census ACS 2024 1-year)*

| | Hawaii | United States |
|---|---:|---:|
| Median home value | $875,900 | $360,600 |
| Median household income | $100,745 | $81,604 |
| Home value ÷ income | 8.7× | 4.4× |
| Effective property tax rate | 0.27% | 0.89% |
| Median gross rent | $1,942/mo | $1,487/mo |
| Median owner costs with a mortgage | $2,937/mo | $2,035/mo |
| Homes lived in by their owners | 61.6% | 65.3% |

Fewer households own here than in most states — Hawaii’s owner share is the 6th-lowest in the country — and the median rent is the 2nd-highest.

## Property tax and the Hawaii payment

> **Worked example: $875,900 home (Hawaii’s median value), 10% down, 30-year fixed at 7.24%**
>
> | Part of the payment | Monthly | Share |
> |---|---:|---:|
> | Principal and interest on $788,310 | $5,372 | 85% |
> | Property tax at 0.27% a year | $197 | 3% |
> | Homeowners insurance at $4.90 per $1,000 (Freddie Mac national average) | $358 | 6% |
> | PMI (midpoint of Freddie Mac’s range) | $394 | 6% |
> | **Total** | **$6,321** | |

Hawaii’s effective property tax rate is the lowest in the country. At the national ratio of 0.89%, the same home would carry $650 a month in tax instead of $197. With principal and interest at 85% of the payment, the price and the rate do most of the work. Each $10,000 borrowed adds about $68 a month at today’s average rate. The insurance line uses Freddie Mac’s national figure; Hawaii quotes depend on the island, the building and hazards such as hurricanes and lava zones. Test your own price in the [payment calculator](https://mail.mortgage-math-us.com/tools/mortgage-payment-calculator/?price=876000&down=10&tax=0.27&state=HI).

## Hawaii’s higher conforming and FHA loan limits

Federal law sets special loan limits for Alaska, Hawaii, Guam and the US Virgin Islands. For 2026 they look like this for a one-unit home:

| Loan type | Most of the mainland | Hawaii |
|---|---:|---:|
| Conforming (Fannie Mae, Freddie Mac) | $832,750 | $1,249,125 in Hawaii, Honolulu and Kauai counties; $1,299,500 in Maui and Kalawao |
| FHA ceiling | $1,249,125 in high-cost areas | Up to $1,873,625, set county by county |

With 10% down, a conforming loan stretches to a price of about $1,387,917 on Oahu, Kauai and Hawaii Island and $1,443,889 in Maui County, against $925,278 at the mainland baseline. Even with the minimum 3% down, the median Hawaii home needs a loan of $849,623 — more than the mainland baseline, so it would be a jumbo loan in most of the country, but well inside Hawaii’s limit. Above these limits you are in [jumbo loan](https://mail.mortgage-math-us.com/loan-types/jumbo-loans/) territory, with stricter rules. Check your county’s FHA figure on HUD’s limits lookup before choosing an [FHA loan](https://mail.mortgage-math-us.com/loan-types/fha-loans/).

## What a Hawaii median income can buy

Freddie Mac suggests keeping housing costs under 30% of gross income. On Hawaii’s median household income that is $2,519 a month, which supports a home of about **$349,000** with 10% down at today’s average rate — $526,900 below the median value. Owning the median home on those terms takes an income of roughly $252,800.

Buyers bridge that gap with two incomes, family help, a smaller home or condo, or a leasehold property, where you buy the building but lease the land. The [affordability calculator](https://mail.mortgage-math-us.com/tools/affordability-calculator/?state=HI&income=100745) shows what your own income supports.

## HHFDC’s Hale Kamaʻāina Mortgage Program

The Hawaii Housing Finance and Development Corporation (HHFDC) funds 30-year fixed-rate loans through participating lenders, using tax-exempt bonds to price them below the market. The main rules:

- **First-time buyers.** You and your spouse must not have owned or held an interest in a principal residence in the past 3 years; exceptions may apply for veterans and targeted areas.
- **Income and price limits by county.** In Honolulu County the limits are $154,805 for a household of one or two and a price of $866,346 outside targeted areas. Price limits are lower on Hawaii Island and higher on Kauai and Maui. The statewide median value is above the Honolulu limit.
- **Counseling.** Every borrower completes homeownership counseling with a HUD-approved agency — see the [homebuyer education guide](https://mail.mortgage-math-us.com/first-time-buyers/homebuyer-education/).

HHFDC also lists a second mortgage for down payment help, but says its terms are waiting on rule changes under a 2026 state law, so don’t plan around it until HHFDC publishes them. Loans financed with tax-exempt bonds can carry a federal recapture tax if you sell within the first years at a gain while your income has risen; ask the lender for the recapture notice.

## Hawaii’s conveyance tax and closing costs

Hawaii’s conveyance tax is a single rate applied to the whole price, picked by price band, and the legal default is that the seller pays it. The rates are higher when the buyer can’t claim a homeowner exemption — typically investment and second-home purchases.

*Conveyance tax rate on the whole price, buyer eligible for a homeowner exemption*

| Price | Rate | Tax at the top of the band |
|---|---:|---:|
| Under $600,000 | 0.1% | $600 |
| $600,000 to under $1,000,000 | 0.2% | $2,000 |
| $1,000,000 to under $2,000,000 | 0.3% | $6,000 |
| $2,000,000 to under $4,000,000 | 0.5% | $20,000 |

On the median $875,900 home the tax is about $1,752. Total closing costs usually run 2%–5% of the price according to the CFPB, or $17,518–$43,795 here. Estimate yours with the [closing cost calculator](https://mail.mortgage-math-us.com/tools/closing-cost-calculator/?state=HI).

## Renting vs owning in Hawaii

The median Hawaii renter pays $1,942 a month, $4,379 less than the full monthly cost of owning the median home with 10% down. Owning catches up only through principal paydown and price growth over time, so the number of years you plan to stay matters. Run your own numbers in the [rent vs buy calculator](https://mail.mortgage-math-us.com/tools/rent-vs-buy-calculator/?state=HI&price=876000&rent=1942).

## Frequently asked questions

### What is the conforming loan limit in Hawaii?

For 2026 the one-unit conforming limit is $1,249,125 in Hawaii, Honolulu and Kauai counties and $1,299,500 in Maui and Kalawao counties. Most of the mainland’s baseline is $832,750.

### What is the FHA loan limit in Hawaii?

HUD sets FHA limits by county. Because Hawaii is a special exception area, county limits can go up to $1,873,625 for a one-unit home in 2026, compared with a mainland ceiling of $1,249,125. Check your county on HUD’s lookup.

### What is the property tax rate in Hawaii?

Census data put the median Hawaii homeowner’s bill at $2,385 a year, about 0.27% of median home value. Each county sets its own rates and home exemptions.

### Does Hawaii have a first-time home buyer program?

Yes. HHFDC’s Hale Kamaʻāina Mortgage Program offers below-market 30-year fixed loans to buyers who haven’t owned a principal residence in 3 years, within county income and price limits — $866,346 in Honolulu outside targeted areas.

### Who pays the conveyance tax in Hawaii?

The legal default is the seller. The rate depends on the price and on whether the buyer can claim a homeowner exemption; on the median $875,900 home it is about $1,752.

### How much income do you need to buy a house in Hawaii?

Owning the median $875,900 home with 10% down costs about $6,321 a month at today’s average rate. Keeping that under 30% of gross income takes roughly $252,800 a year.

## Sources

- [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) — 30-year fixed rate, national weekly average (Week of Oct 29, 2026)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=040XX00US15) — Median value of owner-occupied homes (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=040XX00US15) — Median household income (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=040XX00US15) — Effective property tax rate (median taxes ÷ median home value); Median real estate taxes paid by homeowners (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25064?g=040XX00US15) — Median gross rent (2024 ACS 1-year)
- [Freddie Mac Research](https://www.freddiemac.com/research/insight/homeowners-insurance-costs) — Average homeowners insurance premium per $1,000 of home value (2023 data)
- [Freddie Mac My Home](https://myhome.freddiemac.com/buying/breaking-down-pmi) — Typical PMI cost, low end; Typical PMI cost, high end (Oct 28, 2026)
- [Freddie Mac My Home](https://myhome.freddiemac.com/blog/homebuying/how-much-can-you-afford) — Freddie Mac guidance: housing costs below this share of gross income (Jan 22, 2026)
- [FHFA: 2026 conforming loan limits by county](https://www.fhfa.gov/document/d/cll/fullcountyloanlimitlist2026_hera-based_final_flat.pdf) — 2026 conforming loan limit in Hawaii, Honolulu and Kauai counties (one-unit); 2026 conforming loan limit in Maui and Kalawao counties (one-unit) (2026 limit)
- [FHFA](https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026) — 2026 baseline conforming loan limit (one-unit) (2026 limit)
- [HUD Mortgagee Letter 2025-23: 2026 Nationwide Forward Mortgage Loan Limits](https://www.hud.gov/sites/dfiles/hudclips/documents/2025-23hsgml.pdf) — 2026 FHA one-unit limit ceiling in Hawaii (special exception area) (2026 limit)
- [CFPB](https://www.consumerfinance.gov/owning-a-home/prepare/figure-out-how-much-you-want-to-spend/) — Minimum down payment on some conventional loans; Typical closing costs, low end (share of purchase price); Typical closing costs, high end (share of purchase price) (Oct 28, 2026)
- [HHFDC: Hale Kamaʻāina eligibility, income and purchase price requirements](https://dbedt.hawaii.gov/hhfdc/hale-kama%ca%bbaina-mortgage-program-eligibility-income-and-purchase-price-requirements/) — HHFDC Hale Kamaʻāina Mortgage Program purchase price limit, Honolulu County (non-targeted); Hale Kamaʻāina first-time buyer: no interest in a principal residence in the past; Hale Kamaʻāina income limit, Honolulu County, 1–2 person household (non-targeted) (Jun 13, 2026)
- [HUD](https://www.hud.gov/news/hud-no-25-145) — 2026 FHA loan limit ceiling (one-unit, high-cost areas) (2026 limit)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=010XX00US) — Median value of owner-occupied homes (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=010XX00US) — Median household income (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=010XX00US) — Effective property tax rate (median taxes ÷ median home value) (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25064?g=010XX00US) — Median gross rent (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25088?g=040XX00US15) — Median monthly owner costs, homes with a mortgage (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25088?g=010XX00US) — Median monthly owner costs, homes with a mortgage (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=040XX00US15) — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=010XX00US) — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- [FHFA: 2026 conforming loan limits by county](https://www.fhfa.gov/document/d/cll/fullcountyloanlimitlist2026_hera-based_final_flat.pdf)
- [HUD Mortgagee Letter 2025-23: 2026 forward mortgage limits](https://www.hud.gov/sites/dfiles/hudclips/documents/2025-23hsgml.pdf)
- [HHFDC: Hale Kamaʻāina eligibility, income and price limits](https://dbedt.hawaii.gov/hhfdc/hale-kama%ca%bbaina-mortgage-program-eligibility-income-and-purchase-price-requirements/)
- [HHFDC: Hale Kamaʻāina Mortgage Program FAQ](https://dbedt.hawaii.gov/hhfdc/2026/06/16/hale-kama%ca%bbaina-mortgage-program-for-homebuyers-frequently-asked-questions/)

_General information, not financial advice._