What is the current mortgage refinance rate in Hawaii?

The average 30-year mortgage rate in Hawaii is currently around 7.00%. Refinance rates typically run 0.1%–0.2% higher than purchase rates. Actual rates depend on your credit score, LTV, and lender. On the Hawaii median loan of $684,000, that is a monthly payment of $4,551.

How much can I save refinancing in Hawaii?

Dropping 1% on a $684,000 loan in Hawaii saves $450/month. Closing costs of about $17,100 (2.5% of loan) means you break even in 39 months. Over 30 years, you save $144,808 in total interest.

When does refinancing make sense in Hawaii?

Refinancing makes sense in Hawaii when you can lower your rate by at least 0.75%–1%, you plan to stay in the home past the break-even date (typically 39 months for a 1% rate drop), and your remaining loan balance justifies the closing costs. Property taxes in Hawaii average 0.28% of assessed value — factor that into the total housing cost calculation.

Not Financial Advice. CalcMoney provides calculators for educational and planning purposes only. Results are estimates and do not constitute financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Terms apply.

CALCMONEY // MORTGAGE REFINANCE // HI

Hawaii Mortgage Refinance 2026

Hawaii average rate: 7.00%. On the median loan of $684,000, a 1% rate drop saves $450/month and breaks even in 39 months.

Calculate Your Refinance

Avg 30yr Rate

7.00%

Median Home Price

$855,000

Monthly Payment (80% LTV)

$4,551

Estimated Closing Costs

$17,100

Refinance Scenarios for Hawaii Homeowners

BASED ON HI MEDIAN LOAN: $684,000 — CLOSING COSTS: $17,100

New Rate	New Monthly	Monthly Savings	Break-Even	30yr Savings
6.50% (save 0.5%)	$4,323	$227/mo	6yr 4mo	$64,737
6.00% (save 1.0%)	$4,101	$450/mo	3yr 3mo	$144,808
5.50% (save 1.5%)	$3,884	$667/mo	2yr 2mo	$223,017

Refinancing in Hawaii: Key Factors

HI MARKET CONTEXT

The median home price in Hawaii is $855,000. At 80% LTV, the typical loan is $684,000 at the current 7.00% average rate, producing a monthly P+I payment of $4,551. Total interest over 30 years at this rate: $954,241.

Property taxes in Hawaii average 0.28% of assessed value, or $2,394 per year on the median home. This adds $200/month to your all-in housing cost. When evaluating a refinance, factor in property tax and insurance for a complete picture.

Hawaii residents can deduct mortgage interest on state income tax returns for primary residences, subject to state-specific limits. The federal mortgage interest deduction applies on loans up to $750,000.

Related Calculators

Mortgage Refinance Mortgage Calculator Home Affordability Rent vs Buy