Conventional loans in Hawaii: conforming limit, real monthly costs, PMI timeline

On Hawaii’s rough $850,000 median, a conventional loan with 5% down means $42,500 at closing and about $5,814 a month with taxes and mortgage insurance; with 20% down, $170,000 and about $4,503. Everything below is worked on those numbers and on the state rules that change them.

Conforming or jumbo in Hawaii?

In Hawaii, a one-unit conventional loan above $1,249,125 is jumbo in 2026. The median price of about $850,000 means the median buyer is well inside the limit even with 3% down (loan $824,500), so conforming rules apply to most purchases. Two-, three- and four-unit homes have higher limits. Every Hawaii county is in the table below; see conforming loan limits and jumbo loans.

County-level loan limits in Hawaii for 2026

FHFA sets the limit county by county. In Hawaii, 0 of 5 counties use the $832,750 baseline and 5 — Hawaii County, Honolulu County, Kalawao County, Kauai County, Maui County — carry high-cost limits, the highest being $1,299,500 in Kalawao County, Maui County. High-cost rows are in bold.

Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.

Monthly cost on a $850,000 Hawaii home

Each row is the same $850,000 Hawaii home at 6.5% for 30 years — only the down payment changes. PMI is an illustrative market rate for that down payment; property tax is the state’s rough 0.29% effective rate divided by twelve.

Under 20% down, conventional loans require mortgage insurance until the loan-to-value falls; the next section gives the ${e.nom} timeline. Payment tables at other amounts and rates: mortgage payment tables.

How long you pay PMI here

Federal rules, identical in Hawaii: you may request cancellation at 80% of the original value and the servicer must cancel at 78%. On the scheduled amortization alone, the 5% down loan above reaches 80% after about 10 years and 4 months and 78% after about 11 years and 3 months; the 10% down loan, 80% after about 7 years and 11 months; the 3% down loan, 80% after about 11 years and 1 months. At roughly $505 a month on the 5% scenario, that is about $62,620 of PMI over the period — the strongest argument for extra principal payments or a value-based cancellation request once prices rise.

Closing costs and taxes in Hawaii

Hawaii closes through escrow companies licensed under Hawaii Revised Statutes chapter 449 — Title Guaranty, Old Republic and a few others dominate — with no attorney requirement, though attorneys are often used for leasehold and trust matters. Funding is dry: documents are recorded at the state Bureau of Conveyances (Regular System) or the Land Court (for Torrens-registered land) in Honolulu, and escrow disburses after recording. Because every recording in the state runs through one office, recording dates drive closing schedules.

Hawaii has no mortgage recording tax and no intangible tax on the note; recording a mortgage at the Bureau of Conveyances or Land Court costs a per-document fee. The state conveyance tax (HRS chapter 247) applies to the deed, at tiered rates from $0.10 per $100 up to $1.25 per $100 for the highest price brackets, with higher rates for buyers who will not occupy the home; it is paid by the seller. A refinance involves recording fees only. Hawaii’s conveyance tax is graduated by price and ownership type: starting at $0.10 per $100 (0.1%) for owner-occupants under $600,000 and rising through several brackets for higher prices and non-owner-occupied property. It is customarily paid by the seller.

Hawaii closings run through escrow companies; buyer closing costs of about 1% to 2% are low as a percentage but large in dollars given prices, and condo buyers should budget for association document fees and reserve contributions.

Prepayment, spouses and homestead in Hawaii

Prepayment. Hawaii has no statute that broadly prohibits prepayment penalties on residential mortgages; the Secure and Fair Enforcement for Mortgage Licensing Act (HRS chapter 454F) regulates originator conduct and disclosure, and federal qualified-mortgage rules supply the practical limits. The federal ability-to-repay rule caps penalties tightly and bans them on adjustable or higher-priced loans.

Spouses and title. Hawaii is a separate-property state that abolished dower and curtesy in 1977; a spouse not on title generally need not sign the mortgage.

Homestead. Hawaii’s statutory homestead exemption (HRS § 651-92) is modest — $30,000 for a head of family or a person 65 or older, $20,000 for others — and Hawaii also permits debtors to elect the federal bankruptcy exemptions instead.

The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in Hawaii.

Frequently asked questions

What is the conforming loan limit in Hawaii for 2026?

Hawaii is a statutory high-cost area, so the 2026 conforming limit for a one-unit home is the ceiling of $1,249,125 statewide (150% of the $832,750 baseline). Above that, the loan is jumbo and follows lender rules rather than Fannie Mae and Freddie Mac guidelines.

When can I cancel PMI on a conventional loan in Hawaii?

The request point is 80% of the original value, the automatic point 78% — federal rules, identical in Hawaii. With 5% down on the state’s $850,000 median at 6.5%, the amortization schedule alone gets you to 80% in roughly 10 years and 4 months; with 10% down, in about 7 years and 11 months. Paying extra principal shortens both.

Does Hawaii add anything to a conventional loan’s closing costs?

Hawaii has no mortgage recording tax and no intangible tax on the note; recording a mortgage at the Bureau of Conveyances or Land Court costs a per-document fee. Hawaii’s conveyance tax is graduated by price and ownership type: starting at $0.10 per $100 (0.1%) for owner-occupants under $600,000 and rising through several brackets for higher prices and non-owner-occupied property. Hawaii closings run through escrow companies; buyer closing costs of about 1% to 2% are low as a percentage but large in dollars given prices, and condo buyers should budget for association document fees and reserve contributions.

Related: PMI removal: the 80% request, the 78% automatic cancellation, and the appraisal route, Mortgage points and rate buydowns: when paying for a lower rate pays off, Cash-out refinance: limits, costs and when it is the wrong tool, Rate-and-term refinance: when it pays, how to compute the break-even. First home in Hawaii: programs and assistance. Hub: Conventional loan.