Hawaii Home Loan FAQ
Answers to the most common questions about buying a home and getting a mortgage in Hawaii. Expert answers from Jay Miller, a local mortgage professional with 25+ years of experience.
Loan Basics
- What is the conforming loan limit in Hawaii for 2026?
- The conforming loan limit for Honolulu County is $1,249,125 for a single-family home — significantly higher than the national baseline of $806,500. This means you can get a conventional loan up to this amount without jumbo pricing.
- What credit score do I need to buy a home in Hawaii?
- Minimum scores vary by loan type: VA loans have no VA-mandated minimum (most lenders require 580–620), FHA requires 580 for 3.5% down (500 for 10% down), and conventional typically requires 620+. Higher scores get better rates.
- How much are closing costs in Hawaii?
- Typically 1.5–2% of the purchase price. On an $800,000 home, expect $12,000–$16,000 in total closing costs including lender fees, title insurance, escrow fees, and prepaid items.
VA Loans
- Can I use a VA loan in Hawaii?
- Yes. VA loans work in all 50 states including Hawaii. With full entitlement, there is no loan limit — you can buy at any price with $0 down. The VA funding fee is 2.15% for first-time use (waived for disabled veterans).
- Can I use a VA loan for a condo in Hawaii?
- Yes, but the condo project must be VA-approved. Use our VA Condo Lookup tool to check — there are 1,745 approved projects on Oahu alone.
Hawaii-Specific
- What is leasehold vs. fee simple in Hawaii?
- Fee simple means you own both the structure and the land. Leasehold means you own the structure but lease the land — you pay monthly lease rent to the landowner. Lenders require at least 35 years remaining on the lease for a 30-year mortgage.
- What are typical HOA fees for Hawaii condos?
- HOA fees range from $400–$1,200+/month depending on the building's age, amenities, and reserve fund health. Older buildings with deferred maintenance tend to have higher fees and special assessments.