Hawaiian Financial Mortgage Rates, Fees & Info

Honolulu, HI

LEI: 5493004NKDOFN55L5X23

Tax ID: 99-0145540

2.4 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hawaiian Financial is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Hawaiian Financial has a high proportion of conventional loans. Their top markets include Urban Honolulu, Kahului, Hilo, and Kapaa among others. Hawaiian Financial has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Hawaiian Financial is typically a high fee lendor.


Originations

522

Origination Dollar Volume (All Markets)

$247,680,000

Awards

HAWAIIAN FINANCIAL 30 Year Conventional Loans gold HAWAIIAN FINANCIAL 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Hawaiian Financial's average 30 year fixed rate mortgage of loans were 2.61%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.54%.

Relative Fees

Hawaiian Financial's average total fees for a 30 year fixed rate mortgage are $8,942.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
URBAN HONOLULU, HI (FHA|USDA|VA) 486 $234,270,000 $482,037 $8,822 2.80%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 23 $9,135,000 $397,174 $5,877 3.01%
Hilo, HI (FHA|USDA|VA) 9 $2,495,000 $277,222 $7,041 3.10%
Kapaa, HI (FHA|USDA|VA) 4 $1,780,000 $445,000 $4,432 2.81%

Hawaiian Financial's top markets include Urban Honolulu, Kahului, Hilo, and Kapaa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 522 $247,680,000 $474,483 $8,655 2.82%

For the 2021 period, Hawaiian Financial's most frequently originated loan type of loans were Conventional, with 522 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 218 $111,950,000 $513,532 $10,015 3.07%
Refi 156 $65,020,000 $416,795 $5,707 2.54%
Cash Out Refi 142 $67,500,000 $475,352 $10,479 2.75%
Home Improvement 6 $3,210,000 $535,000 $9,168 2.67%

For the 2021, Hawaiian Financial's most frequently cited loan purpose of loans were Home Purchase, with 218 originations. The 2nd most popular reason of loans were Refi, with 156 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 351 $186,575,000 $531,553 $8,942 2.61%
15 Year 162 $57,190,000 $353,025 $7,622 3.28%
20 Year 7 $2,745,000 $392,143 $5,153 2.46%
Other 2 $1,170,000 $585,000 $4,666 2.69%

For the 2021, Hawaiian Financial's most frequently cited loan length of loans were 30 Year, with 351 originations. The 2nd most popular length of loans were 15 Year, with 162 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 178 $84,740,000 $476,067
$5k+ 130 $85,430,000 $657,154
$3k-4k 61 $23,845,000 $390,902
$2k-3k 33 $10,915,000 $330,758
$1k-2k 24 $8,340,000 $347,500

$8,942 of loans were Hawaiian Financial's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 178 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 199 $101,935,000 $512,236
2.5-3% 191 $89,265,000 $467,356
3-4% 108 $49,580,000 $459,074
4-5% 24 $6,900,000 $287,500

During 2021, Hawaiian Financial's average interest rate of loans were 2.61%, while their most frequently originated rate bucket of loans were <2.5%, with 199 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 170 $51,790,000 $304,647 $5,385 2.77%
$400k-600k 150 $75,500,000 $503,333 $10,215 2.82%
$600k-1MM 125 $89,815,000 $718,520 $9,939 2.77%
$100k-200k 60 $9,560,000 $159,333 $4,389 3.03%
$1MM+ 10 $20,490,000 $2,049,000 $39,684 2.50%
$100,000 or less 7 $525,000 $75,000 $4,154 3.38%

2021 saw Hawaiian Financial place emphasis on $200k-400k loans with 170 originations, totaling $51,790,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 173 $88,795,000 $513,266 $7,986 2.76%
$150k-250k 98 $48,570,000 $495,612 $12,654 2.89%
$75k-100k 98 $38,380,000 $391,633 $6,099 2.74%
$250k+ 78 $50,960,000 $653,333 $14,750 3.11%
$50k-75k 61 $18,465,000 $302,705 $5,275 2.63%
$50k or less 14 $2,510,000 $179,286 $4,226 2.81%

Hawaiian Financial lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $150k-250k, with 98 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 122 $65,120,000 $533,770 $9,038 2.82%
20-30% 109 $46,475,000 $426,376 $10,500 2.74%
<20% 42 $16,170,000 $385,000 $6,279 2.72%
42% 29 $14,185,000 $489,138 $9,121 2.86%
41% 27 $12,705,000 $470,556 $7,682 2.92%
44% 27 $13,815,000 $511,667 $9,477 2.87%
37% 23 $12,545,000 $545,435 $8,714 2.86%
40% 22 $10,350,000 $470,455 $6,050 2.82%
39% 19 $7,665,000 $403,421 $6,982 2.81%
36% 18 $9,670,000 $537,222 $8,871 2.68%
43% 17 $8,625,000 $507,353 $9,488 3.32%
38% 16 $6,480,000 $405,000 $5,695 2.68%
45% 14 $5,680,000 $405,714 $5,866 3.28%
46% 11 $4,455,000 $405,000 $9,204 2.74%
47% 10 $4,570,000 $457,000 $8,683 2.51%
48% 8 $4,790,000 $598,750 $8,945 2.86%
49% 7 $3,975,000 $567,857 $6,186 2.59%

Hawaiian Financial lent most frequently to those with DTI ratios of 30-36%, with 122 originations. The next most common DTI ratio? 20-30%, with 109 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 367 $172,235,000 $469,305 $8,527 2.79%
White 105 $50,705,000 $482,905 $9,946 2.97%
Native Hawaiian 30 $13,320,000 $444,000 $5,902 2.69%
Not provided 16 $7,490,000 $468,125 $6,432 2.73%
Black 2 $3,030,000 $1,515,000 $39,544 2.38%
American Indian 1 $495,000 $495,000 $4,349 2.75%
Chinese 1 $405,000 $405,000 $2,691 2.38%

Approval Rates

Total approvals of all applications
98.09%

Hawaiian Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
99.57%

Hawaiian Financial has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 522 $247,680,000 $474,483

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
522 $247,680,000 $474,483

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 72 $25,150,000 $349,306 $5,172 2.60%
40-60% 129 $53,675,000 $416,085 $6,953 2.69%
60-80% 266 $140,950,000 $529,887 $11,561 2.95%
80-100% 46 $26,200,000 $569,565 $6,601 2.76%
Under 20% 9 $1,705,000 $189,444 $4,415 2.81%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Home Point Financial Corporation VA mortgage Trouble during payment process 13 9.5%
Home Point Financial Corporation FHA mortgage Trouble during payment process 12 8.8%
Home Point Financial Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.7%
Home Point Financial Corporation VA mortgage Struggling to pay mortgage 10 7.3%
Home Point Financial Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 12 8.8%
Home Point Financial Corporation Conventional home mortgage Closing on a mortgage 2 1.5%
Home Point Financial Corporation Conventional home mortgage Incorrect information on your report 2 1.5%
Home Point Financial Corporation Conventional home mortgage Struggling to pay mortgage 8 5.8%
Home Point Financial Corporation Conventional home mortgage Trouble during payment process 56 40.9%
Home Point Financial Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 10 7.3%
Home Point Financial Corporation FHA mortgage Closing on a mortgage 1 0.7%
Home Point Financial Corporation FHA mortgage Improper use of your report 1 0.7%
Home Point Financial Corporation FHA mortgage Incorrect information on your report 1 0.7%
Home Point Financial Corporation FHA mortgage Problem with a credit reporting company's investigation into an existing problem 3 2.2%
Home Point Financial Corporation FHA mortgage Struggling to pay mortgage 5 3.6%