CALCMONEY // HOME AFFORDABILITY // HI // HONOLULU
How much house can you afford in Honolulu? Based on local median home prices, current HI mortgage rates, and Honolulu property tax data.
$870,000
$5,126/mo
$219,690/yr
$328,337
Monthly housing costs of $5,126 represent 62.8% of Honolulu's median gross monthly income ($8,167/mo). At 62.8%, median-income buyers in Honolulu are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $870,000 |
| Down Payment (20%) | $174,000 |
| Loan Amount | $696,000 |
| Monthly PI Payment | $4,561 |
| Monthly Property Tax | $203 |
| Monthly Insurance Est. | $363 |
| Total Monthly PITI | $5,126 |
| Housing Cost % of Income | 62.8% |
| Required Income (28% rule) | $219,690/yr |
| Max Affordable Home | $328,337 |
$30,450
$6,661/mo
Honolulu Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $870,000 | Honolulu city median |
| Down Payment (20%) | $174,000 | Conventional loan |
| Monthly PITI | $5,126 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $219,690 | Annual gross |
| Max Affordable Home | $328,337 | Based on median income |
| FHA Down (3.5%) | $30,450 | Minimum FHA |
| Housing Cost % of Income | 62.8% | Median income: $98,000/yr |
| Property Tax Rate | 0.28% | $2,436/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Honolulu is $870,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $696,000, generating a monthly P&I payment of $4,561. Adding property taxes ($203/mo) and homeowners insurance ($363/mo) brings total monthly PITI to $5,126.
Honolulu's property tax rate of 0.28% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Honolulu median home, that is $203/month, or $2,436 per year.
Hawaii levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Honolulu should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Honolulu's median income of $98,000/year can afford up to $2,287/month in total housing costs. Based on Honolulu's mortgage rate of 6.85% and property tax rate of 0.28%, that translates to a maximum affordable home price of approximately $328,337 with 20% down on a 30-year loan.
To afford the median Honolulu home priced at $870,000, you need an annual gross income of approximately $219,690. Total monthly housing costs (principal and interest of $4,561, property taxes of $203, and insurance of $363) come to $5,126/month, which equals 28% of the required income.
At the median home price of $870,000 and median household income of $98,000, the total monthly housing cost of $5,126 represents 62.8% of gross monthly income. This is well above the standard 28% threshold, making Honolulu a challenging market for buyers at median income.
A conventional 20% down payment on the median Honolulu home of $870,000 is $174,000. An FHA loan requires just 3.5% down — $30,450 — but adds mortgage insurance of roughly $595/month, bringing total FHA payments to $6,661/month.