Kama'ainaCompare
Market Update

Hawaii Mortgage Market Update: March 2026 Trends

Hawaii rates remain relatively stable entering March. Credit unions continue to price below the Big Four banks on 30-year fixed products, while CD rates have softened slightly from their late-2025 peaks.

March 2026 Rate Snapshot

Best 30-Yr Fixed APR
5.319%
HawaiiUSA FCU
Best 15-Yr Fixed APR
4.408%
HawaiiUSA FCU
Best CD Rate (12-mo)
3.50% APY
Hawaii State FCU
Hawaii Conforming Limit
$1,249,125
All Hawaii counties

Mortgage Rate Trends

The 30-year fixed rate landscape in Hawaii in March 2026 shows a consistent pattern: local credit unions are pricing 10–30 basis points below the major banks on conforming products. Hawaii State FCU and HawaiiUSA FCU lead the credit union pack, with Bank of Hawaii offering the most competitive rate among the Big Four.

ARM rates remain attractive relative to fixed rates. The spread between a 5/6 ARM and a 30-year fixed from the same lender is running about 50–75 bps — a modest reward for taking on rate risk after the fixed period. For buyers planning to stay under 7 years, ARMs merit consideration.

Jumbo rates are pricing above conforming by 25–40 bps at most local institutions. Buyers who can increase their down payment to stay below the $1,249,125 conforming limit may see meaningful savings.

Current 30-Year Fixed Rates

30-Year Fixed Conforming — Sorted by APRRESPA-compliant ranking
BESTHawaiiUSA Federal Credit Union5.000% rate5.319% APR
#2HawaiiUSA Federal Credit Union5.375% rate5.549% APR
#3Bank of Hawaii5.500% rate5.684% APR
#4American Savings Bank5.500% rate5.720% APR
#5Bank of Hawaii5.250% rate5.747% APR
#6First Hawaiian Bank5.625% rate5.930% APR
#7Central Pacific Bank5.750% rate6.068% APR
#8Hawaii State Federal Credit Union6.000% rate6.140% APR
#9Aloha Pacific Federal Credit Union6.125% rate6.250% APR
#10Pearl Hawaii Federal Credit Union6.250% rate6.375% APR
#11Hawaii State Federal Credit Union6.875% rate6.994% APR

CD & Savings: Rates Cooling Slightly

CD rates across Hawaii institutions have eased slightly from the 3.50–3.75% highs seen in mid-2025. The best 12-month CD in Hawaii currently sits at 3.50% APY at Hawaii State FCU, with most credit union 12-month certificates in the 3.25–3.50% range.

Promo CDs remain popular: Bank of Hawaii's Bankohana CD Special and ASB's 6-month special both price competitively for existing customers. Check minimum balance requirements — several of the best rates require $10,000–$20,000 minimum deposits.

For liquid savings, the big four banks remain disappointing: regular savings APYs at FHB and BOH are effectively zero (0.01–0.04%). Credit unions fare better at 0.05–0.10% for share savings. For meaningful yield on liquid funds, look at CPB's eAccess Savings or a high-yield online account.

What to Watch in March–April 2026

  • Fed rate decisions — The FOMC meets March 18–19. Market pricing suggests rates will hold steady, but any surprise would ripple quickly into Hawaii mortgage rates.
  • Hawaii housing inventory — Oahu inventory remains tight, keeping upward pressure on prices despite moderating demand. More listings coming to market in spring could shift dynamics.
  • VA loan volume — With Oahu's high PCS activity in summer months approaching, we expect increased VA purchase lending activity in March–June.
  • Credit union CD specials — Hawaii State FCU and Pearl Hawaii FCU have historically released promotional certificates in Q1. Watch their websites for new offers.

Get current rates in your inbox

Rate alerts and monthly market updates — free, no spam.

Get Rate Alerts

Rate data sourced directly from institution websites and reflects rates available as of early March 2026. Mortgage rates shown for conforming purchase loans with 20% down and 740+ credit score. Actual rates depend on your specific situation. RESPA Section 8 compliant — but any surprise would ripple quickly into Hawaii mortgage rates.