Hawaiian Financial Mortgage Rates, Fees & Info
Honolulu, HILEI: 5493004NKDOFN55L5X23
Tax ID: 99-0145540
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
522Origination Dollar Volume (All Markets)
$247,680,000Awards
HAWAIIAN FINANCIAL - 2021
HAWAIIAN FINANCIAL is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications98.09%
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 origination99.57%
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% |
