Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Hawaii and Louisiana. Updated for 2026.
Hawaii and Louisiana are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Louisiana saves you approximately $3,763/month ($45,156/year) compared to Hawaii, based on median home prices with identical loan terms.
There's a dramatic price gap between these two states. Homes in Louisiana cost 77% less than in Hawaii — that's a difference of $635K on the median home. For buyers relocating from Hawaii to Louisiana, this can mean upgrading significantly or pocketing substantial savings. The equity you've built in a Hawaii home could fund a much larger down payment in Louisiana, potentially eliminating PMI and reducing your monthly payment dramatically.
Property tax rates are similar in both states (Hawaii: 0.28%, Louisiana: 0.55%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Homeowners insurance is significantly cheaper in Hawaii ($1,200/year) compared to Louisiana ($3,500/year). That's an extra $2,300 per year — or $192/month — eating into your budget in Louisiana. Louisiana's high insurance costs are often driven by severe weather risks (hurricanes, tornadoes, or wildfires), which also affect availability of coverage.
Closing costs are a one-time but significant expense. Hawaii averages $12K in closing costs (1.5% of purchase price) while Louisiana averages $3K (1.6%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Hawaii's HHFDC Hula Mae Program provides Below-market rate mortgages, while Louisiana's LHC Mortgage Revenue Bond offers Up to $10,000 soft second loan. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Louisiana homes cost $635K less than Hawaii on average. That translates to roughly $3,763 less per month in total housing costs if you choose Louisiana. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.