HSFCU Raises Mortgage Rates — Now at 6.000%, Matching Hawaii's Major Banks
Hawaii State Federal Credit Union raised its 30-year fixed mortgage rate by 12.5 basis points on March 21, 2026 — from 5.875% to 6.000% (6.165% APR). The credit union now matches all four major Hawaii banks on rate. Pearl Hawaii FCU and Aloha Pacific FCU continue to hold at 5.000%, widening the gap between the credit union leaders and the rest of the market.
HSFCU Rate Move — Impact on $800K Loan
Before (Mar 20)
$4732/mo
5.875% rate
Today (HSFCU)
$4732/mo
5.875% rate
Monthly increase
+$0
vs. Pearl Hawaii FCU (held at 5.000%): HSFCU now costs +$-126/mo more on an $800K 30-year loan
Today's Mortgage Rate Changes
| Lender | Product | Old Rate | New Rate | Change | New APR |
|---|---|---|---|---|---|
| Hawaii State FCU | 30-Year Fixed | 5.875% | 5.875% | ↑ 12.5 bps | 6.051% |
| Hawaii State FCU | 15-Year Fixed | 5.250% | 5.125% | ↑ 12.5 bps | 5.356% |
| Hawaii State FCU | 30-Year Fixed (Low Points) | 6.125% | 6.125% | ↑ 12.5 bps | 6.208% |
What Happened and Why It Matters
Yesterday (March 20), HSFCU raised rates 25 basis points as part of a broad market-wide move. Today they added another 12.5 basis points, bringing all three of their 30-year fixed products higher. At 6.000% (6.165% APR) with 1.750 points, HSFCU now sits at the same nominal rate as the four major Hawaii banks — First Hawaiian Bank, Bank of Hawaii, Central Pacific Bank, and American Savings Bank.
Despite the rate convergence with banks, HSFCU still has a meaningful APR advantage over three of the four banks. With 1.750 points, HSFCU's APR (6.165%) beats FHB (6.330%), ASB (6.293%), and CPB (6.350%) — which all require 2.250–2.500 points on the same 6.000% rate. Bank of Hawaii (6.153% APR, 1.625 points) remains the closest competitor.
Two credit unions have not moved in the recent wave: Pearl Hawaii FCU (5.000% / 5.213% APR) and Aloha Pacific FCU (5.000% / 5.279% APR). The spread between these two credit unions and the banks and HSFCU has now widened to nearly 100 basis points on APR. On an $800,000 30-year mortgage, choosing Pearl Hawaii FCU over HSFCU saves approximately $-126 per month — or over $-45K in total interest over the life of the loan.
30-Year Fixed APR: How HSFCU Compares (March 21)
Credit union membership required for HSFCU, PHFCU, APFCU, and HawaiiUSA FCU. Most Hawaii residents qualify for at least one credit union.
Current Best Mortgage Rates in Hawaii (March 21)
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↑ Today | 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 |
| Central Pacific | 5.875% | 6.197% | 2.000 | $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↑ Today | 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↑ Today | 5.375% | 5.510% | 0.875 | $6484 |
Rates as of March 21, 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
After two days of consecutive increases, Hawaii's mortgage market has largely consolidated. All four major banks and now HSFCU sit at 6.000% on the 30-year fixed. The point differentiation matters: if you must borrow from a bank, BOH (1.625 points, 6.153% APR) is the best value among the four banks.
The credit union opportunity has never been more obvious. Pearl Hawaii FCU and Aloha Pacific FCU have held at 5.000% through two waves of bank and HSFCU increases. Membership eligibility is often broader than people assume — most Hawaii residents qualify for at least one of the four credit unions on this list. Check eligibility before defaulting to a bank.
If you're already in escrow or approaching a rate lock decision, today's HSFCU move is additional evidence that the market is in an upward trend. Locking sooner rather than later may be prudent if the underlying 10-year Treasury continues to rise.
See the full rate comparison table
All 8 Hawaii lenders, sorted by APR, updated daily.
Read yesterday's rate alert
Six lenders raised rates March 20 — the broadest single-day move of 2026.