Mortgage payment estimates, closing cost breakdowns, and homebuying data for Honolulu, Hawaii.
Median Home Price
$825K
Population
351K
Avg Monthly Rent
$2,650
Property Tax Rate
0.28% *
* Property tax shown is the Hawaii state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Honolulu.
Honolulu vs Hawaii Median
The median home price in Honolulu is $825,000, which is roughly in line with the Hawaii state median of $830,000.
Mortgage Calculator — Honolulu, HI
Pre-filled with Honolulu median home price and Hawaii tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $825K home using Hawaii's 0.28% tax rate and $1,200/yr insurance.
5% Down
$5,704/mo
Down: $41,250
Loan: $784K
P&I: $4,954
Tax: $193
Insurance: $100
PMI: $457
10% Down
$5,419/mo
Down: $82,500
Loan: $743K
P&I: $4,693
Tax: $193
Insurance: $100
PMI: $433
20% Down (No PMI)
$4,464/mo
Down: $165,000
Loan: $660K
P&I: $4,172
Tax: $193
Insurance: $100
Income needed (28% rule): $191K/year with 20% down, $232K/year with 10% down.
Rent vs Buy in Honolulu
Rent
$2,650/mo
vs
Buy (10% down)
$5,419/mo
Price-to-rent ratio: 25.9 — At a ratio above 20, renting may be more economical in Honolulu for shorter stays. Buying costs $2,769 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Honolulu is $825,000, roughly in line with the Hawaii state median of $830,000. With a population of 350,964, Honolulu is a mid-size city where home prices tend to be more accessible than in many parts of Hawaii.
Property taxes in Hawaii average 0.28% annually. This low property tax rate is a significant advantage for Honolulu buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Hawaii runs approximately $1,200 per year. This is within the normal range nationally.
Average rent in Honolulu is $2,650/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Honolulu is a higher-cost market. At $825K median, buyers need significant savings or strong income. Down payment assistance through Hawaii's HHFDC Hula Mae Program program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Honolulu.