Hawaii Mortgage Rates Spike Higher — Banks Up +12-25bps — April 23, 2026
Published April 23, 2026 · Verified against 8 Hawaii lenders
Today's 30-Year Fixed Rate Snapshot
| Lender | Rate | APR | Points | vs Apr 19 |
|---|---|---|---|---|
| HIFCU | 5.000% | 5.354% | 2.375 | — |
| BOH | 5.750% | 5.925% | 1.875 | +13.8bps |
| HSFCU | 5.875% | 6.051% | 1.875 | -1.2bps |
| ASB | 5.875% | 6.093% | 1.750 | +9.2bps |
| FHB | 5.875% | 6.170% | 2.125 | +12.0bps |
| CPB | 5.875% | 6.197% | 2.000 | +11.7bps |
| HSFCU | 6.125% | 6.208% | 0.875 | +14.5bps |
Sorted by APR (lowest first). 30-year fixed conforming purchase, 20% down, primary residence. Rates as of April 23, 2026. Changes vs April 19, 2026 (last verified baseline).
The Big Picture: April 17 Cuts Fully Reversed
The broad −12.5bps cut that swept through FHB, BOH, ASB, and HIFCU on April 17 has now been reversed — and then some. Bank of Hawaii's 30-year fixed jumped +25bps today to 5.875%/6.027% APR, recovering all of the April 17 cut plus an additional +12.5bps. BOH's VA rate also rose +25bps to 5.500%, and all ARM products moved +25bps.
FHB, CPB, and ASB each added +12.5bps to their 30-year fixed rates, returning them to roughly mid-April levels. CPB also raised its 15-year points (1.875→2.250), making the 15-year product notably more expensive despite an unchanged rate.
Notably, HIFCU and HSFCU held steady. Credit unions have shown less volatility in this rate environment, and HIFCU's 5.000%/5.354% APR now stands 67 basis points below the best bank rate (ASB at 6.025% APR).
FHB's Rare Fixed/ARM Split
First Hawaiian Bank showed an unusual divergence today: fixed rates up, ARM rates down. The 30-year fixed rose from 5.750% to 5.875% (+12.5bps), while the 7/6 ARM fell from 5.250% to 5.125% (−12.5bps), the 5/6 ARM from 5.125% to 5.000%, and the 10/6 ARM from 5.375% to 5.250%.
This reflects a steepening yield curve — longer-term Treasury yields (which drive fixed mortgage pricing) rising while shorter-term SOFR rates (which underpin ARM adjustments) fall. For buyers who can tolerate rate adjustments after 5-7 years, today's FHB ARMs at 5.000%-5.250% are materially cheaper than the 30-year fixed at 5.875%.
ASB Now Best Bank by APR — CPB Jumbo Falls
A notable reshuffling: American Savings Bank now edges Bank of Hawaii as the best bank by APR. ASB's 30-year held at 5.750% rate but with higher points (2.125→2.375), pushing APR from 6.001% to 6.025% — still slightly below BOH's 6.027% APR. BOH had been the top bank since mid-April.
CPB offered a rare bright spot for jumbo buyers: the 30-year jumbo fell −12.5bps to 6.000%/6.197% APR while the conforming rate rose. Buyers with loans above the $1,249,125 Hawaii conforming limit may find CPB's jumbo pricing competitive today.
The Credit Union Advantage Widened Sharply
The gap between HIFCU (best credit union) and the best bank expanded from 43bps on April 19 to 67bps today. On a $750,000 Hawaii mortgage — near Honolulu's median — that's roughly $250/month in payment difference (or ~$89,000 over 30 years).
HIFCU membership is open to most Hawaii residents. The 2.375 points (vs. ASB's 2.375 points at a higher rate) mean the break-even on points is similar — HIFCU wins clearly on monthly payment and total interest. HSFCU (5.875%/6.063% APR) is a solid credit union alternative for buyers who prefer a longer rate lock.
FAQ
What happened to Hawaii mortgage rates on April 23, 2026?
All four major Hawaii banks raised their 30-year fixed mortgage rates on April 23, 2026, reversing the broad −12.5bps cut seen on April 17. Bank of Hawaii jumped +25bps to 5.875% (APR 6.027%), the largest single-day increase in recent weeks. First Hawaiian Bank rose +12.5bps on fixed rates while simultaneously cutting ARM rates by −12.5bps. CPB's 30yr rose +12.5bps while its jumbo fell −12.5bps. ASB kept its 30yr rate at 5.750% but increased points (2.125 to 2.375), pushing APR higher. HIFCU and HSFCU held their rates unchanged.
What is the best Hawaii 30-year mortgage rate on April 23, 2026?
HawaiiUSA FCU (HIFCU) remains Hawaii's best 30-year fixed at 5.000%/5.354% APR (2.375 points, membership required). Among banks, American Savings Bank is now the best at 5.750%/6.025% APR (2.375 points), narrowly edging Bank of Hawaii at 5.875%/6.027% APR — the first time ASB has led banks by APR since mid-April. The credit union vs. bank APR gap has widened to 67 basis points (up from 43bps on April 19).
Why did FHB fixed rates rise while ARM rates fell on the same day?
This reflects a yield curve steepening: longer-term rates (which drive 30-year fixed mortgages) rose while shorter-term rates (which drive SOFR-indexed ARMs) fell. FHB's 30-year fixed rose +12.5bps to 5.875% while its 7/6 ARM fell −12.5bps to 5.125%, its 5/6 ARM fell to 5.000%, and its 10/6 ARM fell to 5.250%. Buyers who can accept rate adjustments after 5-7 years may find today's ARMs more attractive than fixed products.
Has the credit union mortgage advantage grown?
Yes, significantly. On April 19, the gap between HIFCU (best CU) and BOH (best bank) was 43bps on APR (5.354% vs 5.787%). After today's bank repricing, that gap has widened to 67bps — HIFCU at 5.354% vs ASB (best bank) at 6.025%. On a $750,000 Hawaii mortgage, 67bps APR difference is approximately $250/month or $89,000 over 30 years. HIFCU membership is open to most Hawaii residents.
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Rate data sourced directly from lender websites on April 23, 2026. Rates reflect 30-year fixed conforming purchase with 20% down payment, 720+ FICO, primary residence, 45-day rate lock (30-day for HIFCU). APR includes points and fees. Changes shown vs April 19, 2026 (last verified baseline — no rate data collected April 20-22). Rates subject to change without notice. Not a lender. Compare all Hawaii mortgage rates →