Hawaii Mortgage Guide 2026
This Hawaii mortgage guide covers everything you need to know about getting a mortgage in Hawaii — loan limits by island county, available programs, property taxes, closing costs, and the 2026 Hawaii housing market outlook.
Hawaii Mortgage Guide: Loan Limits by County (2026)
Hawaii is one of four “special exception areas” (along with Alaska, Guam, and the U.S. Virgin Islands) that can receive elevated conforming and FHA loan limits above the standard high-cost ceiling, reflecting the state’s higher construction costs. Conforming limits are largely uniform statewide, while FHA limits are calculated per county based on local median home prices and vary considerably by island.
| County | Conforming Limit | FHA Limit | Notes |
|---|---|---|---|
| Honolulu County (Oʻahu) | $1,249,125 | $828,000 | National high-cost ceiling (conforming) |
| Hawaii County (Big Island) | $1,249,125 | $586,500 | Lowest FHA limit in the state — lower island median prices |
| Kauaʻi County | $1,249,125 | $1,110,900 | National high-cost ceiling (conforming) |
| Maui County | $1,299,500 | $1,299,500 | Special exception county — above the standard ceiling |
| Kalawao County | $1,299,500 | $1,299,500 | Administered jointly with Maui for lending purposes |
Verify before you lock. Hawaii’s special exception area status means FHA limits can shift more than in most states. The figures above were pulled directly from HUD’s official CY2026 FHA Forward mortgage limits list. Limits are updated periodically — always confirm your exact county at HUD’s official FHA limit lookup tool before making an offer. The conforming column comes from a different agency — those values are published on FHFA’s conforming loan limit page.
Loan Programs Available in Hawaii
All major federal mortgage programs are available statewide in Hawaii. Here’s how each compares for Hawaii buyers:
| Program | Min Down Payment | Min Credit Score | Best For |
|---|---|---|---|
| FHA | 3.5% | 580 | First-time buyers, lower credit scores |
| VA | 0% | 580–620 (lender overlay) | Veterans, active duty, surviving spouses |
| USDA | 0% | 640 | Rural/suburban buyers who meet income limits |
| Conventional | 3–20% | 620 | Strong credit, wants to avoid lifetime MIP |
| Jumbo | 10–20% | 700+ | Purchases above conforming limits — common on Oʻahu and Maui |
| Hale Kamaʻāina Mortgage | As low as 0%* | 620 | First-time buyers using HHFDC down payment assistance |
*With HHFDC down payment assistance layered onto the first mortgage.
Hawaiʻi Housing Finance & Development Corporation (HHFDC) Programs
HHFDC is Hawaii’s state housing finance agency and offers below-market mortgage financing and down payment assistance for eligible Hawaii buyers through its Hale Kamaʻāina Mortgage Program. All HHFDC loans must be originated through a participating lender.
Hale Kamaʻāina Loan Types
| Program | Who Qualifies | Key Feature |
|---|---|---|
| Hale Kamaʻāina Mortgage | First-time buyers only | Competitive fixed 30-year rate; optional down payment assistance |
| Government loan pairing | FHA/VA/USDA borrowers | 5.62% government rate as of this build |
| Conventional pairing | Conventional borrowers | 5.87% conventional rate as of this build |
HHFDC Down Payment Assistance
HHFDC offers a second mortgage of up to 4% of the purchase price (or appraised value, if lower) to help cover the down payment and closing costs. It carries 1% simple interest and is repayable — not forgiven — due in full upon sale, refinance, or transfer of the home, or at first mortgage maturity. Using the down payment assistance option adds a 0.25% rate premium to the first mortgage.
Income and price limits vary by area. Honolulu County income limits for Hale Kamaʻāina run up to $152,000 (1–2 person) or $174,800 (3+ person) in non-targeted areas, with higher limits in targeted areas. Purchase price limits are $809,458 (non-targeted) and $989,337 (targeted) in Honolulu County. Limits differ by island — verify current figures at dbedt.hawaii.gov/hhfdc.
Hawaii Property Taxes
Hawaii has the lowest effective property tax rates in the nation, but rates and homeowner exemptions vary significantly by county — more so than almost any other state. This directly affects your monthly PITI payment and your qualifying DTI.
Key rule: Each Hawaii county sets its own residential tax rate and homeowner exemption independently. Hawaii County (Big Island) has the highest rate of the four counties despite having the lowest median home prices in the state, while Maui has the lowest rate and largest homeowner exemption.
| County | Owner-Occupied Rate | Homeowner Exemption |
|---|---|---|
| Honolulu County (Oʻahu) | $3.50 per $1,000 | $120,000 ($160,000 age 65+) |
| Maui County | $1.65 per $1,000 (up to $1.5M) | $300,000 |
| Hawaiʻi County (Big Island) | $5.75 per $1,000 | $50,000 base (rising to $85,000–$125,000 by age; see County Code §19-71) |
| Kauaʻi County | $2.59 per $1,000 | $160,000 (up to $240,000 age 70+) |
Rates reflect the 2026–2027 fiscal year. Hawaii property tax rates are set annually by each county council and are subject to change. Verify parcel-specific rates and current exemption eligibility with your county’s real property tax office before finalizing your budget.
Closing Costs in Hawaii
Hawaii closing costs typically run 1%–2% of the purchase price for cash buyers and 2%–4% for financed purchases. Hawaii uses an escrow-only closing model with no attorney requirement, which keeps transaction costs more predictable than in attorney-required states. Examples below assume a $700,000 purchase with 10% down (a $630,000 loan).
| Fee | Rate / Amount | On a $700,000 Purchase |
|---|---|---|
| Conveyance tax (owner-occupant, seller-paid) | 0.10%–1.00% graduated by price | ~$700–$3,500 |
| Escrow / settlement fee | Split buyer/seller, negotiable | ~$500–$1,200 (buyer share) |
| Lender’s title insurance | Based on loan amount | ~$600–$1,200 |
| Owner’s title insurance | Customarily seller-paid | Seller cost |
| Recording fees | Set by Bureau of Conveyances | $100–$250 |
| Appraisal | Higher than mainland average | $700–$1,100 |
Conveyance tax is graduated and seller-paid. Hawaii’s state conveyance tax is customarily paid by the seller and ranges from 0.10% to 1.00% of the sale price for owner-occupants (0.15%–1.25% for non-owner-occupants), increasing at higher price tiers. Confirm the current tier structure at the Hawaii Department of Taxation before closing.
Hawaii Housing Market Overview (2026)
Hawaii’s housing market is defined by island-by-island scarcity, high construction costs, and a mix of local buyers, mainland relocators, and second-home/investment demand. Statewide, single-family home prices have held up better than condos through 2026, though all four counties saw modest year-over-year price declines. Inventory has improved somewhat from the tight conditions of prior years, but Hawaii remains one of the least affordable states in the country relative to local incomes.
| Area | Median Price (Single-Family) | Trend | Key Notes |
|---|---|---|---|
| Oʻahu (Honolulu County) | $1,162,000 | Down ~1% YoY | Largest, most liquid market; strong military and local demand |
| Maui County | $1,300,000 | Down ~7% YoY | Steepest decline of the four counties; resort and second-home market |
| Hawaiʻi County (Big Island) | $590,000 | Down ~1% YoY | Most affordable island; lowest FHA limit reflects lower prices |
| Kauaʻi County | $1,100,000 | Down ~2% YoY | Limited inventory; strong vacation-rental demand |
