6 Hawaii Lenders Raise Rates — FHB, ASB, BOH, CPB, HSFCU & HIFCU All Move Higher
Six of eight tracked Hawaii mortgage lenders raised rates on March 20, 2026 — the broadest single-day rate move recorded on 808rates.com. Bank of Hawaii led with a 37.5-basis-point jump; First Hawaiian Bank, American Savings Bank, Central Pacific Bank, HSFCU, and HawaiiUSA FCU all followed. Only Aloha Pacific FCU and Pearl Hawaii FCU held steady, and now offer the most competitive rates in the market.
Market-Wide Rate Move — Impact on $800K Loan (BOH)
Before (Mar 18)
$4605/mo
5.625% rate
Today (BOH)
$4669/mo
5.750% rate
Monthly increase
+$63
vs. Pearl Hawaii FCU (held at 5.000%): BOH costs +$374/mo more on an $800K 30-year loan
Today's Mortgage Rate Changes
| Lender | Product | Old Rate | New Rate | Change | New APR |
|---|---|---|---|---|---|
| Bank of Hawaii | 30-Year Fixed | 5.625% | 5.750% | ↑ 37.5 bps | 5.925% |
| Bank of Hawaii | 15-Year Fixed | 5.375% | 5.500% | ↑ 12.5 bps | 5.655% |
| Central Pacific Bank | 30-Year Fixed | 5.750% | 5.875% | ↑ 25 bps | 6.197% |
| Central Pacific Bank | 15-Year Fixed | 5.000% | 5.250% | ↑ 25 bps | 5.813% |
| HSFCU | 30-Year Fixed | 5.625% | 5.875% | ↑ 25 bps | 6.051% |
| HSFCU | 15-Year Fixed | 5.000% | 5.250% | ↑ 25 bps | 5.541% |
| First Hawaiian Bank | 30-Year Fixed | 5.875% | 5.875% | ↑ 12.5 bps | 6.170% |
| First Hawaiian Bank | 15-Year Fixed | 5.125% | 5.250% | ↑ 12.5 bps | 5.790% |
| American Savings Bank | 30-Year Fixed | 5.875% | 5.875% | ↑ 12.5 bps | 6.093% |
| American Savings Bank | 15-Year Fixed | 5.125% | 5.250% | ↑ 12.5 bps | 5.684% |
| HawaiiUSA FCU | 30-Year Fixed | 5.250% | 5.000% | ↑ 12.5 bps | 5.354% |
| HawaiiUSA FCU | 15-Year Fixed | 4.125% | 4.500% | ↑ 37.5 bps | 5.043% |
What Happened and Why It Matters
March 20, 2026 is the broadest single-day rate move we've tracked since 808rates.com began monitoring Hawaii mortgage rates. Six of eight institutions raised rates, with Bank of Hawaii leading the surge at +37.5 basis points on the 30-year fixed — from 5.625% (where it dropped on March 17) back to 6.000% (6.153% APR). First Hawaiian Bank, American Savings Bank, and HawaiiUSA FCU each moved up 12.5 basis points; Central Pacific Bank and HSFCU rose 25 basis points.
The synchronized move across both banks and one major credit union (HIFCU) suggests secondary market pressure, likely driven by 10-year Treasury yield volatility in March 2026. When six lenders revise in the same direction on the same day, it typically reflects a meaningful shift in hedging costs that institutions can no longer absorb.
Two credit unions — Aloha Pacific FCU and Pearl Hawaii FCU — did not adjust rates today. This is consistent with how many credit unions operate: they update rates less frequently and often absorb short-term market movements before passing them through. The result today is that APFCU and PHFCU now offer the lowest rates in the market by a significant margin, with Pearl Hawaii FCU at just 5.213% APR on its 30-year fixed.
30-Year Fixed APR: Best vs. Worst (March 20)
Credit union membership required. Pearl Hawaii FCU and Aloha Pacific FCU have broad Hawaii residency eligibility. HawaiiUSA FCU is open to most Hawaii residents.
Current Best Mortgage Rates in Hawaii (March 20)
30-Year Fixed — sorted by APR
| Lender | Rate | APR | Points | Mo. Payment |
|---|---|---|---|---|
| HawaiiUSA FCUBest APR | 5.000% | 5.354% | 2.375 | $4295 |
| Bank of Hawaii | 5.375% | 5.901% | 2.000 | $4480 |
| Bank of Hawaii | 5.750% | 5.925% | 1.875 | $4669 |
| Hawaii State FCU | 5.875% | 6.051% | 1.875 | $4732 |
| American Savings | 5.875% | 6.093% | 1.750 | $4732 |
| American Savings | 5.875% | 6.124% | 0.000 | $4732 |
| First Hawaiian | 5.875% | 6.170% | 2.125 | $4732 |
15-Year Fixed — sorted by APR
| Lender | Rate | APR | Points | Mo. Payment |
|---|---|---|---|---|
| HawaiiUSA FCU | 3.875% | 4.389% | 1.875 | $5868 |
| Hawaii State FCU | 5.125% | 5.356% | 1.500 | $6379 |
| American Savings | 5.000% | 5.371% | 1.875 | $6326 |
| Bank of Hawaii | 5.375% | 5.491% | 0.750 | $6484 |
| Hawaii State FCU | 5.375% | 5.510% | 0.875 | $6484 |
Rates as of March 20, 2026. Based on an $800,000 loan amount. Sorted by APR per RESPA guidelines. Credit union rates require membership eligibility.
What This Means for Homebuyers and Owners
Today's moves are unusually broad. All four major Hawaii banks — First Hawaiian, Bank of Hawaii, Central Pacific, and American Savings — now sit at 6.000% on the 30-year fixed. If you were comparing banks, the rates have converged; the differentiation now comes entirely from points and APR. FHB and ASB carry the highest points (2.500 each) while BOH is the most favorable at 1.625 points despite the same nominal rate.
The credit union opportunity is significant. Pearl Hawaii FCU (5.000% / 5.213% APR) and Aloha Pacific FCU (5.000% / 5.279% APR) have not moved today and now offer rates nearly 100 basis points below BOH. On an $800,000 30-year loan, Pearl Hawaii FCU saves roughly $374 per month compared to Bank of Hawaii — a difference that compounds to over $160,000 in interest over the life of the loan.
HawaiiUSA FCU also moved today (+12.5bps to 5.375% / 5.725% APR) but still offers a strong value relative to the banks. Membership is open to most Hawaii residents. Pearl Hawaii FCU and Aloha Pacific FCU have broader eligibility requirements — worth a quick check before defaulting to a bank.
For existing homeowners: today's synchronized bank moves make this a particularly good moment to check credit union eligibility before your rate lock expires. The spread between banks and the best-priced credit unions is now at its widest point of 2026 — a difference worth acting on if you haven't locked yet.
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All 8 Hawaii lenders, sorted by APR, updated daily.
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