Rate Alert: Hawaii Lenders Broadly Cut Points — CPB 15yr Falls to 5.125%
While headline rates held mostly steady, Hawaii lenders broadly reduced mortgage points on April 2 — lowering effective APRs and upfront costs across the board. CPB made the biggest rate move, dropping its 15-year fixed 12.5bps to 5.125%. HawaiiUSA FCU holds Hawaii's best verified 30-year rate at 5.250%/5.597% APR.
Today's Rate Changes (April 2, 2026)
| Lender | 30yr Rate | APR | Change |
|---|---|---|---|
| HawaiiUSA FCU | 5.250% | 5.597% | ↓ pts 2.500→2.250 |
| Bank of Hawaii | 5.875% | 6.039% | ↓ pts 1.875→1.750 |
| American Savings Bank | 5.875% | 6.129% | ↓ pts 2.250→2.125 |
| Hawaii State FCU | 6.000% | 6.165% | ↓ pts 1.875→1.750 |
| First Hawaiian Bank | 6.000% | 6.280% | ↓ pts 2.125→2.000 |
| Central Pacific Bank | 6.000% | 6.313% | — Unchanged |
| Aloha Pacific FCU | 5.000% | 5.279% | ⚠ Unverified (18d) |
| Pearl Hawaii FCU | 6.120% | 6.348% | Table unavailable |
APR changes reflect point reductions even where rate is unchanged.
What a Broad Points Reduction Means for Buyers
Today's moves were mostly about upfront cost, not rate. BOH trimmed points on its 30-year fixed (1.875→1.750), its 15-year (1.000→0.875), and all ARM products — signaling that the bank is willing to take slightly less upfront to attract loan applications. FHB, HSFCU, and HawaiiUSA FCU made similar moves.
On an $800,000 loan, a 0.125-point reduction saves $1,000 at closing. For buyers already stretching to cover Hawaii's high purchase prices, that's meaningful. The APR improvements range from about 1–2 basis points — small in isolation, but meaningful over 30 years.
CPB 15-Year Fixed Drops to 5.125% — Now Competitive
Central Pacific Bank cut its 15-year fixed rate 12.5 basis points to 5.125%/5.665% APR (2.125 points). That puts CPB in a competitive position for 15-year loans — matching HSFCU (5.125%/5.415% APR) and ASB (5.125%/5.478% APR) on rate, though CPB's APR is slightly higher due to more points.
For 15-year shoppers: HawaiiUSA FCU remains the clear leader at 4.250%/4.808% APR (membership required). Among banks, BOH now leads the 15-year market at 5.375%/5.510% APR with only 0.875 points — the lowest-points 15yr from any local lender.
ASB Jumbo 30yr Rises 12.5bps to 6.125%
American Savings Bank raised its 30-year jumbo fixed rate 12.5bps to 6.125%/6.294% APR (1.250 points). This is the only rate increase today and brings ASB's jumbo in line with BOH (6.125%/6.208% APR) on rate — though BOH carries lower points. For jumbo borrowers (loans above $1,249,125), BOH now offers the better APR.
Current Hawaii 30-Year Fixed Rates (April 2, 2026)
| Lender | Rate | APR | Points |
|---|---|---|---|
| #1HawaiiUSA FCU | 5.000% | 5.354% | 2.375 |
| Bank of Hawaii | 5.750% | 5.925% | 1.875 |
| Hawaii State FCU | 5.875% | 6.051% | 1.875 |
| 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 |
Sorted by APR (lowest first). Data as of April 2, 2026.
Frequently Asked Questions
Why did so many Hawaii lenders reduce points on the same day?
When multiple lenders cut points simultaneously without changing rates, it typically signals softening purchase demand. Lenders reduce points to make their products more attractive and generate more applications without committing to a lower rate. This pattern sometimes precedes rate reductions in coming days if demand remains soft.
What is the best Hawaii 30-year mortgage rate on April 2, 2026?
As of April 2, 2026, HawaiiUSA FCU holds the best verified conforming 30-year fixed rate at 5.250%/5.597% APR (2.25 points, membership required). Bank of Hawaii follows at 5.875%/6.039% APR. American Savings Bank matches on rate at 5.875%/6.129% APR with slightly higher points.
How much does a Hawaii mortgage cost in April 2026?
At HawaiiUSA FCU's best rate of 5.250%/5.597% APR on an $800,000 loan, the monthly principal and interest payment is approximately $4,418. At Bank of Hawaii's 5.875%/6.039% APR, the same loan runs about $4,732/mo. Points of 2.25 on $800K equals $18,000 upfront at HIFCU's current pricing.