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Conventional loans in Hawaii

Quick answer

Conventional loans in Hawaii allow as little as 3% down (about $24,246 on a $808,200 home) with a 620+ credit score, up to the $1,249,125 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Hawaii

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical HI home value$808,200
3.5% down on typical home$28,287
20% down on typical home$161,640
Avg. effective property tax0.27%/yr (~$182/mo)
Income for typical home (31% rule)$237,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Hawaii programs pair with Conventional loans?

  • Hula Mae Single Family: Below-market-rate loans for eligible first-time buyers within income and price limits.
  • Mortgage Credit Certificate: When available, a federal tax credit for a portion of mortgage interest paid.

Details and current limits: Hawaii Housing Finance and Development Corporation (HHFDC).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Hawaii cities

Conventional in HonoluluConventional in East HonoluluConventional in HiloConventional in Pearl CityConventional in WaipahuConventional in KailuaConventional in KaneoheConventional in Mililani TownConventional in KahuluiConventional in Ewa GentryConventional in KapoleiConventional in KiheiConventional in Mililani MaukaConventional in KailuaConventional in MakakiloConventional in WahiawaConventional in Ocean PointeConventional in WailukuConventional in Ewa BeachConventional in WaimaluConventional in HalawaConventional in Royal KuniaConventional in Hawaiian Paradise ParkConventional in WaianaeConventional in NanakuliConventional in MailiConventional in KaiminaniConventional in LahainaConventional in Waihee-WaiehuConventional in WaipioConventional in Kaneohe BaseConventional in KapaaConventional in Waimea

Frequently asked questions

Yes. Conventional loans are available statewide in Hawaii through approved lenders, subject to county loan limits where they apply.

Often yes. Hawaii Housing Finance and Development Corporation (HHFDC) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.