Income needed to buy a house in Hawaii
A median-priced home in Hawaii costs $875,900. With 20% down you'd need about $212,642 a year, $111,897 more than the state's median household income of $100,745. Hawaii ranks #51 of 51 for the lowest income needed.
Income needed: $212,642 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 6.95% (Freddie Mac, week of 2026-09-17).
You'd need a household income of about $212,642 a year to buy an $875,900 home in Hawaii with $175,180 down.
Based on lenders' 28/36 rule: housing costs under 28% of gross income, all debt under 36%.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $4,638 |
| Property tax | $199 |
| Homeowners insurance | $125 |
| Total | $4,962 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $43,795 | $6,178 | $264,774 |
| 10% | $87,590 | $5,870 | $251,568 |
| 20% | $175,180 | $4,962 | $212,642 |
Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Hawaii: what's different
- Transfer tax
- From 0.1% (seller)
- On the median home
- $1,750
- Homestead break
- County exemption ($120,000 on Oahu)
- First-time buyer help
- Hawaii Housing Finance and Development Corporation
- Transfer and recording taxes. The seller pays a conveyance tax set by price band and applied to the whole price. When the buyer will claim a county homeowner exemption, it's 10 cents per $100 under $600,000, 20 cents up to $1 million and 30 cents up to $2 million, rising to $1 per $100 at $10 million; other buyers' purchases are taxed at higher rates. On the median Hawaii home ($875,900), that's about $1,750 in conveyance tax for an owner-occupant buyer.
- Property tax breaks for your home. Each county sets its own home exemption. In the City and County of Honolulu it's $120,000 of assessed value ($160,000 at 65 and older), rising to $140,000 and $180,000 on July 1, 2027, and the claim deadline is September 30.
- First-time buyer help. The Hawaii Housing Finance and Development Corporation offers the Hale Kamaʻāina Mortgage Program through participating lenders (below-market mortgages for first-time buyers; formerly Hula Mae). Check its site for income and price limits.
- Insurance. Standard homeowners policies in Hawaii generally don't cover hurricane damage, so you buy it as a separate policy or an endorsement. On the Big Island, homes in lava zones 1 and 2 that private insurers won't cover can get basic property insurance from the Hawaii Property Insurance Association, a state-created pool.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in Hawaii's largest metro area
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Honolulu, HI | $223,916 | $920,600 | $105,205 |
The median home in the Honolulu area is worth $920,600, 5% more than the statewide median, and takes about $223,916 a year to buy with 20% down.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 6.95%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Hawaii more expensive than most states
- Home prices: the median value of $875,900 is 143% above the U.S. median of $360,600.
- Property tax: about 0.27% of value a year ($199 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,494 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $479 a month on this loan.
48 states need at least 20% less income to buy their median home. States with a similar income requirement:
- California $196,807
- Washington, DC $187,026
- Massachusetts $165,477
- Washington $158,207
- New Jersey $150,876
- Colorado $148,554
Frequently asked questions
How much do you need to make to buy a house in Hawaii?
About $212,642 a year for the median home of $875,900 with 20% down at 6.95%. With 10% down it's about $251,568.
What is the property tax rate in Hawaii?
The median Hawaii homeowner pays $2,385 a year, about 0.27% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Hawaii?
Median rent is $1,942 a month, while owning the median home costs about $4,962 a month with 20% down, before maintenance. Renting affordably takes about $77,680 a year under the 30% rule.