BOH & ASB Cut 12.5bps — Hawaii Mortgage Rates Reverse Part of May 8 Move — May 10, 2026
Published May 10, 2026 · Verified against 7 Hawaii lenders
Today's 30-Year Fixed Rate Snapshot
| Lender | Rate | APR | Points | vs May 8 |
|---|---|---|---|---|
| HIFCU | 5.250% | 5.597% | 2.250 | — |
| BOH | 5.750% | 5.937% | 2.000 | -10.2bps |
| ASB | 5.875% | 6.129% | 2.125 | -10.3bps |
| HSFCU | 6.000% | 6.189% | 2.000 | — |
| FHB | 6.000% | 6.280% | 2.000 | -3.0bps |
| CPB | 6.000% | 6.313% | 1.875 | — |
| HSFCU | 6.375% | 6.435% | 0.625 | +24.6bps |
Sorted by APR (lowest first). 30-year fixed conforming purchase, 20% down, primary residence. Rates as of May 10, 2026. Changes vs May 8, 2026 (PM close, last verified baseline). HIFCU verification was Cloudflare-blocked today; values shown are last verified April 28, 2026 — within our 14-day verification window but approaching the floor.
BOH Leads the Cut: Broad −12.5bps Across Products
Bank of Hawaii's May 8–11 rate schedule cut the 30-year fixed from 5.875% to 5.750%, with points rising 1.750 → 2.000 — net APR 6.039% → 5.937%, a 10bps APR improvement. The jumbo 30-year went 6.250% → 6.125% (APR 6.208%), jumbo 20-year 5.750% → 5.625%, and the VA 30-year dropped 5.625% → 5.500%. All three ARM products (5/6, 7/6, 10/6) cut 12.5bps in rate with points rising 0.250.
The pattern — rate down, points up — is consistent with a lender absorbing a modest improvement in the 10-year Treasury while protecting yield-spread on origination. For a Hawaii buyer with cash to bring to closing, the lower rate is the right trade; for buyers with limited cash, BOH's 15-year at 5.375% / 0.750 points / 5.491% APR is now the cheapest low-points conforming option in the bank set.
ASB Matches the BOH Cut — Broadly
American Savings Bank cut its 30-year fixed from 6.000% to 5.875% (APR 6.232% → 6.129%) with points rising 1.875 → 2.125. The 15-year dropped 5.125% → 5.000% (APR 5.518% → 5.430%) — the lowest 15-year APR among the four banks today. ASB's 30-year jumbo, 7/6 ARM (5.375% → 5.250%), and 10/6 ARM (5.625% → 5.500%) all cut 12.5bps in rate. The VA 30-year held at 5.875%/6.124% APR.
ASB's reprice puts pressure on FHB and CPB, both of which held the 30-year at 6.000% today. FHB's effective response was to trim points (2.250 → 2.000) — a smaller adjustment but still a 3bp APR improvement. CPB held all products flat at May 8 PM levels. We'd expect FHB or CPB to revisit pricing within the next 1–2 business days if BOH and ASB hold these new levels.
HSFCU Quiet on Standard 30-yr; Low-Points Variants Up
Hawaii State FCU's schedule (effective April 30 – May 10, 2026) held the standard 30-year fixed at 6.000%/6.189% APR. The 15-year fixed nudged points 1.750 → 1.875 (APR 5.521% → 5.541%). The two "low-points" variants moved against the bank trend: 30-year low-points went 6.250% → 6.375% (APR 6.345% → 6.435%), and 15-year low-points 5.500% → 5.625% (APR 5.655% → 5.742%). These are options for buyers who want minimal cash-at-close and accept a higher rate; the spread to HSFCU's standard 30-year is now 25bps.
We weren't able to verify HawaiiUSA FCU today — Cloudflare's JavaScript challenge blocks our automated reads. HIFCU's last verified 30-year was 5.250%/5.597% APR on April 28, which would remain the lowest Hawaii 30-year if it held. We're at day 12 of our 14-day verification window; if we can't verify by May 12, those entries will be removed from the site rather than carried forward stale.
Savings, CDs, and HELOCs Unchanged
Every savings, CD, and HELOC rate on our Hawaii board held unchanged between May 8 and May 10. The leaders remain: PHFCU 8-month Certificate at 3.65% APY ($1,000 min, eff 2/28/2026), Bank of Hawaii Bankohana Savings Special at 3.15% APY (90-day promo, $25,000 minimum, new money), BOH 6-month Bankohana CD at 3.05% APY ($5,000 min), and FHB 6-month online CD at 3.05% APY ($1,000 min). On HELOCs: PHFCU's 4.50% intro for 36 months remains the lowest in Hawaii, followed by HIFCU at 4.99% (24 months, last verified April 28) and HSFCU at 5.25%. FHB's 2-year intro at 5.30% leads the bank set.
What This Means for Hawaii Buyers
Net of the May 8 reprice and today's partial reversal, the conforming 30-year picture is now: BOH 5.937% APR (lowest verified bank), ASB 6.129% APR, HSFCU 6.189% APR, FHB 6.28% APR, CPB 6.313% APR. That's a 38bp spread between the cheapest and most expensive Hawaii bank today — meaningful enough to shop. If you got a quote on May 8 at BOH or ASB, today's numbers are 10bps APR better at the same lender; request a re-quote before locking.
For Hawaii credit union members, HIFCU's 5.250%/5.597% APR (if it still holds) would beat every bank by 34bps APR. Confirm directly with HIFCU before counting on that — and remember that credit union membership has eligibility requirements (typically Hawaii residency or employer-affiliation; see our CU vs bank breakdown for details).
FAQ
Which Hawaii banks cut mortgage rates on May 10, 2026?
Two of the four major Hawaii banks cut 30-year fixed conforming rates 12.5bps on May 10. Bank of Hawaii went from 5.875% to 5.750% (APR 6.039% → 5.937%); American Savings Bank went from 6.000% to 5.875% (APR 6.232% → 6.129%). The cuts were broad — BOH also cut jumbo, VA, and all ARMs −12.5bps; ASB cut jumbo and ARMs −12.5bps (VA unchanged). First Hawaiian Bank held headline rates flat but trimmed discount points, bringing 30-year APR from 6.31% to 6.28% and 15-year APR from 5.75% to 5.73%. Central Pacific Bank was unchanged from its May 8 levels at 6.000%/6.313% APR.
What is the best Hawaii 30-year mortgage rate on May 10, 2026?
Among lenders verified directly today, Bank of Hawaii has the lowest 30-year APR at 5.750% rate / 5.937% APR (2.000 points). American Savings Bank is next at 5.875%/6.129% APR (2.125 points). Hawaii State FCU offers 6.000%/6.189% APR. HawaiiUSA FCU's last verified 30-year was 5.250%/5.597% APR on April 28, which would still be the lowest in Hawaii — but Cloudflare blocked our verification today, so confirm directly with HIFCU before relying on that figure. For Hawaii buyers with credit union eligibility, HIFCU and HSFCU continue to lead the bank set on pure rate.
Why did BOH and ASB cut but FHB and CPB didn't?
Hawaii lenders each set rate sheets on their own schedule and react to the bond market with different lag times. BOH and ASB both publish a fresh schedule essentially every business day, so they're more responsive to short-term rate moves. FHB's mortgage schedule was effective May 8 (still rolling); they appear to be holding the headline 30-year at 6.000% while quietly easing points. CPB's published effective date is May 8; their May 10 page shows the same numbers — they may reprice next week. Net-net, the two-day move from May 8 close to May 10 is a partial reversal of last week's broad +12.5–25bps repricing, not a return to April 28 levels.
Did savings, CD, or HELOC rates move this week?
No. Every savings, CD, and HELOC rate we track held unchanged between May 8 and May 10. The highest-yield Hawaii deposit products remain: PHFCU 8-month Certificate at 3.65% APY ($1K min), Bank of Hawaii Bankohana Savings Special at 3.15% APY for 90 days ($25K minimum, new money), and BOH 6-month Bankohana / FHB 6-month online CD both at 3.05% APY. HELOC pricing: PHFCU's 4.50% intro for 36 months remains the lowest, followed by HIFCU at 4.99% (24 months) and HSFCU at 5.25%. FHB's 2-year HELOC intro at 5.30% is the best in the bank set.
What does the May 10 cut mean for Hawaii buyers in active shopping?
If you got a quote on May 8 PM at BOH or ASB, your number today is 10bps better at the same lender — request a re-quote before locking. The 30-year APR spread between Hawaii's top bank (BOH at 5.937%) and credit union (HSFCU at 6.189% verified, HIFCU at 5.597% last verified April 28) is now 25bps within banks and up to 34bps if you can access HIFCU. With 2.000–2.125 points still required at every bank, factor in your cash-to-close — BOH's 2.000 points on a $700K loan is $14,000 paid upfront to get to 5.750%. The math favors holding more cash and accepting a 5.875% rate at ASB only if you plan to refinance within ~5 years.
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Rate data sourced directly from lender websites on May 10, 2026. Rates reflect 30-year fixed conforming purchase with 20% down payment, 720+ FICO, primary residence, 45-day rate lock. APR includes points and fees. Changes shown vs May 8, 2026 PM close. HawaiiUSA FCU verification was blocked by Cloudflare today (day 12 of 14-day staleness window); HIFCU values shown are last verified April 28, 2026. Aloha Pacific FCU savings/CD entries remain removed (last verified April 23, exceeds 14-day floor; alohapacific.com fully bot-blocked). Rates subject to change without notice. Not a lender. Compare all Hawaii mortgage rates →