How Much Does It Cost to Buy a House in Hawaii?

Kristy Snyder

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Kristy Snyder

October 6th, 2022
Updated October 6th, 2022

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Costs to buy a house in Hawaii | Hawaii closing costs | Hawaii house buying calculator | Homeownership costs | How to save when buying a home in Hawaii

The average home buyer in Hawaii spends between $65,451 and $241,586 when purchasing a $910,349 home — the state median value.

Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership.

Luckily, Clever Real Estate can help make buying a home more affordable. Working with a Clever agent means you'll not only get great service from start to finish, but you could also be eligible for up to 0.5% cash back after closing. That's about $4,552 back on an average-priced home in Hawaii!

💰Buying a home is expensive💰

Put money back in your pocket with Clever Cash Back. Clever will connect you with a top, local agent and send you a check after closing.

✅ Eligible buyers receive 0.5% cash back

✅ Work with a full-service realtor from a top broker

✅ Clever is 100% free, with zero obligation

Average cost to buy a house in Hawaii

Expense
Amount
$9,103 to $27,310
$31,862 to $182,070
$8,161 to $12,241
$14,575
$250
$250
$1,250 to $4,890
Total
$65,451 to $241,586

Buyer closing costs in Hawaii

While the other costs to buy a house in Hawaii are pretty transparent, Hawaii closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Hawaii closing costs you'll likely pay when buying a home.

Closing cost
Amount
Closing fee
$910
Recording fee
$41
Title service fees
$939
Origination fee
$4,552
Underwriting fee
$600
Discount points
$7,283 per point
Lender's title insurance
$250
Owner's title insurance
Typically paid by seller
Prorated property tax
Varies
Conveyance tax
Typically paid by seller
Total
$14,575

Keep in mind, closing costs are often negotiable. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Hawaii calculator

Ongoing costs of homeownership in Hawaii

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Expense
Average monthly cost
Mortgage (principle and interest)
$4,080
Homeowners insurance
$91
Taxes
Varies but averages $213 statewide
Maintenance
$758
Utilities
$612
Total
$5,754
Note: All numbers are estimates based on state averages and a median home value of $910,349 and a down payment of 20%.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Hawaii homeowner, this is between $396 to $1,340 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Hawaii

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

Get Pre-approved Today!

Get matched with a lender who can tell you how much house you can afford. To get started, where do you plan on buying?

2. Participate in home buyer programs Hawaii

The HUD website lists several localized programs for eligible home buyers in Hawaii. You may also apply for assistance through statewide programs, such as the US Department of Agriculture's (USDA) Section 502 Direct Loan Program. This loan is for low-income buyers that helps them purchase safe and sanitary housing in eligible rural areas.

Another option is through the non-profit Habitat for Humanity, which allows low-income buyers to use “sweat equity” through volunteerism to make buying a home more affordable.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!

Get rewarded for buying a home with Clever Cash Back

Working with Clever connects you with top agents in your area, but you also may qualify for 0.5% back on your purchase. For a $350,000 home, you could get up to $1,750.

You could use this money for home repairs, new furniture, or even a vacation!

Fill out the form below and get started now.

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