Hawaii Rent vs Buy Calculator
Compare the true cost of renting versus buying in Hawaii. Factor in Hawaii property taxes (0.28%), insurance ($1K/yr), and local appreciation rates.
$35,000
Total Cost of Renting
$168K
$1,800/mo → $2,213/mo
Total Cost of Owning
$290K
mortgage + costs + selling
Equity Built
$146K
home worth $430K
Net Cost: Buying
$144K
total cost − equity
Side-by-Side
Total Rent Paid$168,035
Investment Gains (down payment)$24,984
Net Cost: Renting$143,051
Total Ownership Cost$289,567
Less: Equity at Sale−$145,645
Net Cost: Buying$143,922
Renting Saves$871
Hawaii Housing at a Glance
Median Home Price
$830K
Hawaii statewide
Property Tax Rate
0.28%
$194/mo on median
Avg Closing Costs
$12K
1.5% of purchase price
Homeowners Insurance
$1,200/yr
$100/mo
Hawaii First-Time Buyer Program
HHFDC Hula Mae Program
Down payment assistance: Below-market rate mortgages