Mortgage on a $1M house in Hawaii
$6,102 a month with 20% down — $5,382 principal and interest plus $221 property tax and $500 insurance.
Hawaii's typical property tax is 0.26% of the home's value a year (U.S. average 0.9%), which adds $221 a month on a $1M home. The typical home in Hawaii is worth $832,932, so $1M is 20% above the typical price.
$1M home in Hawaii: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $200,000 | $800,000 | $5,382 | $0 | $721 | $6,102 | $261,500 |
| 10% down | $100,000 | $900,000 | $6,054 | $375 | $721 | $7,150 | $306,400 |
| 5% down | $50,000 | $950,000 | $6,391 | $396 | $721 | $7,507 | $321,700 |
| 3.5% down (FHA) | $35,000 | $981,888 | $6,605 | $442 | $721 | $7,768 | $332,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.26% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Hawaii does $1M buy a typical home?
In these counties the typical home value is within 15% of $1M:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Kauai County | $1,014,244 | 0.21% | $6,060 |
| Maui County | $982,145 | 0.16% | $6,017 |
| Honolulu County | $855,988 | 0.28% | $6,119 |
3 of 4 Hawaii counties tracked by Zillow have a typical home value at or below $1M. See all Hawaii home prices.
Other prices in Hawaii
Frequently asked questions
What is the mortgage on a $1M house in Hawaii?
About $6,102 a month with 20% down at 7.11%: $5,382 principal and interest, $221 property tax and $500 insurance.
How much do I need to make to buy a $1M house in Hawaii?
About $261,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $1M house in Hawaii?
At Hawaii's typical effective rate of 0.26%, about $2,648 a year. Rates vary by county and city — see the county pages.