BOH & HSFCU Both Cut 30-Year Rates — Banks and Credit Unions Ease Together
Bank of Hawaii dropped its 30-year fixed −12.5bps to 5.750%/5.937% APR and all ARM products followed suit. Hawaii State FCU fell −12.5bps to 5.875%/6.063% APR (low-pts option dropped −25bps to 6.125%). CPB moved the other direction: 15-year fixed +12.5bps to 5.250%.
April 13 Market Snapshot
- ↓ BOH 30yr: 5.875% → 5.750% (−12.5bps); pts 1.500 → 2.000; APR 6.016% → 5.937%
- ↓ BOH 5/6 ARM: 5.250% → 5.125% (−12.5bps); pts 1.500 → 2.000; APR 6.069% → 6.060%
- ↓ BOH 7/6 ARM: 5.375% → 5.250% (−12.5bps); pts 1.500 → 2.000; APR 6.007% → 5.984%
- ↓ BOH 10/6 ARM: 5.500% → 5.375% (−12.5bps); pts 1.500 → 2.000; APR 5.943% → 5.909%
- ↓ HSFCU 30yr: 6.000% → 5.875% (−12.5bps); pts 1.875 → 2.000; APR 6.177% → 6.063%
- ↓ HSFCU 30yr (low pts): 6.375% → 6.125% (−25bps); pts 0.625 → 1.000; APR 6.435% → 6.220%
- ↓ HSFCU 15yr: 5.250% → 5.125% (−12.5bps); pts unchanged 1.750; APR 5.521% → 5.395%
- ↓ HSFCU 15yr (low pts): 5.500% unchanged; pts 1.000 → 0.750; APR 5.655% → 5.616%
- ↑ CPB 15yr: 5.125% → 5.250% (+12.5bps); pts 2.125 → 1.750; APR 5.665% → 5.733%
- ↑ CPB 30yr: rate unchanged 5.875%; pts 2.125 → 2.375; APR 6.209% → 6.233%
- ↑ HIFCU 30yr: rate unchanged 5.250%; pts 2.000 → 2.250; APR 5.574% → 5.797%
- ↑ HIFCU 15yr: rate unchanged 4.250%; pts 2.000 → 2.250; APR 4.789% → 4.828%
- ↓ FHB 30yr: rate unchanged 5.875%; pts 2.375 → 2.250; APR 6.19% → 6.18%
- ↓ ASB 30yr: rate unchanged 5.875%; pts 2.000 → 1.875; APR 6.117% → 6.105%
- ↓ ASB 15yr: rate unchanged 5.000%; pts 2.125 → 2.000; APR 5.410% → 5.390%
- ↑ ASB Jumbo 30yr: rate 6.000% → 6.125% (+12.5bps); pts 1.500 → 0.875; APR 6.191% → 6.258%
- ↓ ASB 7yr ARM: rate unchanged 5.250%; pts 2.000 → 1.875; APR 6.041% → 6.029%
- ↓ ASB 10yr ARM: rate unchanged 5.375%; pts 2.250 → 2.125; APR 5.982% → 5.971%
- — APFCU, PHFCU: mortgage rates unchanged (PHFCU HELOC intro updated 4.50% → 5.25%)
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Analysis: The April Whipsaw Continues
April has been unusually volatile for Hawaii mortgage rates. After a broad drop on April 8, BOH reversed course and hiked on April 10 (+12.5bps). HSFCU hiked even more aggressively on April 11 (+12.5bps), briefly climbing above all four major banks at 6.000%. Today both institutions reversed — dropping right back to where they were before the spike.
The culprit appears to be ongoing tariff policy uncertainty. When tariff-pause headlines broke on April 9–10, Treasury yields spiked, pulling mortgage rates up. As that shock faded, yields softened again — and both BOH and HSFCU repriced down accordingly. This is a pattern worth watching: Hawaii's local banks appear to be tracking 10-year Treasury movements closely, sometimes lagging by a day or two.
BOH is now Hawaii's lowest-rate bank at 5.750%. That's a meaningful number — it's the first time since early April that a major bank has dropped below 5.875%. Among all tracked lenders, only HawaiiUSA FCU (5.250%) and the unverified APFCU data (5.000% from March 16) show lower rates.
CPB is the contrarian today. Their 15-year fixed rose +12.5bps to 5.250% — the opposite direction from HSFCU's 15-year cut. CPB now has both the highest 15-year rate and increased points (1.750) among tracked lenders, which pushes their 15-year APR to 5.733%. BOH's 15-year at 5.375%/5.510% APR remains more competitive.
Current Hawaii 30-Year Fixed Rates (April 13, 2026)
| Lender | Rate | APR | Points | Change |
|---|---|---|---|---|
| #1HawaiiUSA FCU | 5.000% | 5.354% | 2.375 | ↓ 25.0bps |
| Bank of Hawaii | 5.750% | 5.925% | 1.875 | ↓ 12.5bps |
| Hawaii State FCU | 5.875% | 6.051% | 1.875 | ↓ 12.5bps |
| American Savings | 5.875% | 6.093% | 1.750 | — |
| First Hawaiian | 5.875% | 6.170% | 2.125 | — |
| Central Pacific | 5.875% | 6.197% | 2.000 | — |
| Hawaii State FCU | 6.125% | 6.208% | 0.875 | ↑ 12.5bps |
Sorted by APR (lowest first). Verified April 13, 2026. Change vs. April 11, 2026.
What This Means for Hawaii Buyers
Today's drops are meaningful for buyers who were watching last week's spike and hesitating. BOH at 5.750%/5.937% APR is now the best bank rate in Hawaii — for buyers who don't qualify for credit union membership, this is the best verified conforming option.
On a $960,000 loan (20% down on a $1.2M home — close to Oahu median), BOH at 5.750% saves approximately $80/month vs. CPB or FHB at 5.875% — or about $29,000 over 30 years. Given how often rates flip in April, buyers who are ready should consider whether today's rate is worth locking.
HawaiiUSA FCU continues to offer the best overall value at 5.250%/5.797% APR — note that points rose today (2.000 → 2.250), which increased the APR even though the rate held flat. If you're comparing HIFCU to BOH, compare APRs carefully: HIFCU's 5.797% APR vs. BOH's 5.937% APR is a meaningful gap.
This is market data only — not financial advice. Consult a licensed mortgage professional for guidance specific to your situation.
Frequently Asked Questions
What happened to Hawaii mortgage rates on April 13, 2026?
Bank of Hawaii dropped its 30-year fixed −12.5bps to 5.750%/5.937% APR and cut all ARM products −12.5bps. Hawaii State FCU dropped −12.5bps to 5.875%/6.063% APR (the low-pts option fell −25bps to 6.125%/6.220% APR). CPB raised its 15-year fixed +12.5bps to 5.250%/5.733% APR. HIFCU rates held flat but points rose, pushing APRs higher. FHB dropped 30yr points (2.375→2.250, APR 6.19→6.18%). ASB dropped points across conforming loans and ARMs, but raised its jumbo 30yr rate +12.5bps to 6.125%.
Is now a good time to lock a Hawaii mortgage rate?
April has been unusually volatile — rates have swung 12.5–25bps in both directions multiple times in two weeks. Today's drops reverse last week's increases. If you are otherwise ready to lock (purchase contract, appraisal complete, financing contingency deadline approaching), today's rate environment is favorable vs. the April 10–11 spike. Rate decisions should be made with your loan officer based on your specific timeline, not day-to-day market moves alone.
What is the best Hawaii 15-year mortgage rate today?
HawaiiUSA FCU leads the 15-year market at 4.250%/4.828% APR (membership required). Among credit unions, HSFCU offers 5.125%/5.395% APR (1.750 points) — just dropped −12.5bps today. BOH offers 5.375%/5.510% APR (0.875 points) — the best bank 15-year with the lowest points. CPB raised its 15-year +12.5bps today to 5.250%/5.733% APR. FHB and ASB offer 5.125%/5.640% and 5.000%/5.390% APR respectively (ASB 15yr APR fell from 5.410% today).
Why is the Pearl Hawaii FCU HELOC intro rate now 5.25% instead of 4.50%?
Pearl Hawaii FCU updated their HELOC introductory rate from 4.50% to 5.25% for the 3-year fixed intro period (80% LTV, owner-occupied). The variable rate after the intro period remains at 7.25% APR. PHFCU's rate page uses dynamic rendering — verify current terms directly at pearlhawaii.com/resources/rates before applying.