Moving to Hawaii is a dream for many, and it’s easy to see why—beautiful beaches, a rich culture, and a laid-back lifestyle make the islands an appealing place to call home. But before you pack your bags, it’s important to understand what goes into buying property in the Aloha State—especially when it comes to getting a mortgage.
Here are key tips to help you navigate the mortgage process and make your move to Hawaii as smooth as possible.
Hawaii's real estate market varies significantly by island and neighborhood. Whether you're considering a beachfront condo or a home in the hills, research local trends and average prices. This helps set realistic expectations for what you can afford.
Beyond the home price, consider property taxes, insurance, and potential HOA fees. Knowing your full financial picture will help you determine what you can comfortably afford without overextending yourself.
Pre-approval gives you a clear idea of your borrowing power and shows sellers you’re a serious buyer. It also helps you stay focused on homes within your price range.
Some properties in Hawaii are leasehold rather than fee simple, meaning you don’t own the land. This can affect financing options and resale value, so it’s important to understand the difference.
From conventional loans to FHA, VA, and USDA options, there are several types of mortgages available in Hawaii. Speak with a local mortgage professional to explore what works best for your situation.
Your credit score plays a major role in your loan approval and interest rate. Check your report in advance and work on improving your score if needed.
Island life comes with higher prices for goods, services, and utilities. Make sure your post-move budget reflects these added expenses to avoid surprises.
A mortgage loan officer who understands the Hawaii market can guide you through specific requirements and available programs, including any local first-time buyer assistance.
Lenders require an appraisal to confirm the property’s value, and inspections can uncover repair needs. These steps protect your investment and prevent unexpected costs later.
Closing costs in Hawaii typically range from 2% to 5% of the loan amount. Discuss these in advance so you can plan accordingly and avoid last-minute financial stress.
Relocating across the ocean is a major undertaking. Research reliable moving companies and start setting up utilities and local services in advance to ease the transition.
Clear, consistent communication with your mortgage loan officer is key. They’ll help guide you through each step, from application to closing day.
Ready to Get Started?
Buying a home in Hawaii is a big step—but with the right preparation and support, it’s one you can take with confidence. Our team of experienced mortgage professionals is here to help you every step of the way.
