FHA Loan Calculator for Hawaii

FHA Loans in Hawaii

FHA loans require a minimum 3.5% down payment (10% if credit score is 580-619). On Hawaii's median home of $830,000, that's a minimum down payment of $29,100.

FHA Loan Limits in Hawaii

FHA loan limits vary by county and are tied to conforming limits. In most Hawaii counties, the FHA floor limit is $498,257 (2024). High-cost areas like Hawaii (limit: $1,089,300) may qualify for higher limits up to $1,149,825. Hawaii qualifies for the maximum high-cost conforming limit of $1,089,300 statewide — the same as Alaska.

FHA vs Conventional in Hawaii

FHA MIP (Mortgage Insurance Premium) is required regardless of down payment. Conventional loans eliminate PMI at 20% equity. With Hawaii's median home at $830,000, buyers who can put down $166,000 (20%) are better served by conventional financing. FHA makes sense for buyers with limited savings or credit scores below 740.

Closing Costs

Hawaii closing costs average $7,400. Hawaii charges a conveyance tax ranging from 0.1% to 1.25% of sale price based on value thresholds. Properties over $10M face the highest rates. Title insurance and escrow fees are also elevated. Sellers can contribute up to 6% of the purchase price toward FHA buyer closing costs.

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