Bank Of Hawaii Mortgage Rates, Fees & Info

Honolulu, HI

LEI: XJCRTTYJVBMA22IXL619

Tax ID: 99-0033900

1 stars - Updated: 6/9/24 - out of 5 stars, based on 43 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Bank Of Hawaii is a small bank specializing in Home Purchase loans. Bank Of Hawaii has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Urban Honolulu, Hilo, Kahului, and Kapaa among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Hawaii has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Hawaii is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.21% 6/9/24
30 Year Conventional Purchase 6.21% 6/9/24
30 Year Conventional Refi 6.18% 6/9/24
30 Year Cash-out Refi 6.18% 6/9/24
30 Year FHA Purchase 5.81% 6/9/24
30 Year FHA Refi 6.27% 6/9/24
30 Year VA Purchase 5.99% 6/9/24
30 Year VA Refi 5.92% 6/9/24
15 Year Conventional Purchase 5.86% 6/9/24
15 Year Conventional Refi 5.69% 6/9/24
15 Year Cash-out Refi 5.69% 6/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Bank Of Hawaii Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Bank Of Hawaii. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,808

Origination Dollar Volume (All Markets)

$1,021,080,000
Show all (6) awards

Relative Rate

Bank Of Hawaii's average 30 year fixed mortgage rate was 6.02%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.46%.

Relative Fees (Closing Costs)

Bank Of Hawaii's average total fees/closing costs for a 30 year fixed rate mortgage were $15,907.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
URBAN HONOLULU, HI (FHA|USDA|VA) 1,252 $671,540,000 $536,374 $15,993 5.95%
Outside of Metro Areas 3 $126,105,000 $42,035,000 $0 6.40%
Hilo, HI (FHA|USDA|VA) 263 $107,645,000 $409,297 $15,585 6.21%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 205 $80,785,000 $394,073 $16,046 6.20%
Kapaa, HI (FHA|USDA|VA) 85 $35,005,000 $411,824 $16,392 6.19%
Bank Of Hawaii's top markets include Urban Honolulu, Hilo, Kahului, and Kapaa among others.

Their top states include:
  • Hawaii (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank of Hawaii based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HAWAII STATE FEDERAL CREDIT UNION
    Similarity Rank: 112
    HAWAIIUSA FEDERAL CREDIT UNION
    Similarity Rank: 112
    Territorial Savings Bank
    Similarity Rank: 124
    Central Pacific Bank
    Similarity Rank: 148
    HAWAIIAN FINANCIAL
    Similarity Rank: 152
    American Savings Bank, FSB
    Similarity Rank: 184
    First Hawaiian Bank
    Similarity Rank: 395
    Bank of Hawaii
    Similarity Rank: 450

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,209 $296,525,000 $245,265 n/a 5.92%
    Conventional 574 $715,340,000 $1,246,237 $16,079 6.27%
    FHA 18 $5,380,000 $298,889 $13,179 5.88%
    VA 7 $3,835,000 $547,857 $16,859 6.25%

    For 2023, Bank Of Hawaii's most frequently originated type of loan was HELOC, with 1,209 originations. Their 2nd most popular type was Conventional, with 574 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 554 $689,540,000 $1,244,657 $16,132 6.26%
    Other 463 $93,175,000 $201,242 $7,942 5.80%
    Refi 407 $145,325,000 $357,064 $15,286 6.08%
    Home Improvement 335 $65,515,000 $195,567 $9,052 5.89%
    Cash Out Refi 49 $27,525,000 $561,735 $16,071 6.08%

    For 2023, Bank Of Hawaii's most frequently cited loan purpose was Home Purchase, with 554 originations. The 2nd most popular reason was Other, with 463 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,767 $639,755,000 $362,057 $15,907 6.02%
    10 Year 16 $51,320,000 $3,207,500 $0 5.96%
    Other 10 $320,000,000 $32,000,000 $0 6.46%
    15 Year 9 $5,505,000 $611,667 $21,837 6.07%
    20 Year 3 $685,000 $228,333 $7,965 6.96%
    5 Year 2 $3,110,000 $1,555,000 $0 6.72%
    1 Year 1 $705,000 $705,000 $0 8.50%

    For 2023, Bank Of Hawaii's most frequently cited loan duration was 30 Year, with 1,767 originations. The 2nd most popular length was 10 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 312 $222,490,000 $713,109
    $4k-5k 24 $7,840,000 $326,667
    $3k-4k 20 $6,410,000 $320,500
    $2k-3k 17 $6,605,000 $388,529
    $1k-2k 10 $5,440,000 $544,000
    $<1k 4 $4,890,000 $1,222,500

    Bank Of Hawaii's average total fees were $15,907, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 312 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 671 $264,875,000 $394,747
    6-7% 326 $436,070,000 $1,337,638
    7-8% 302 $140,280,000 $464,503
    4-5% 269 $92,445,000 $343,662
    Over 8% 133 $34,655,000 $260,564
    3-4% 107 $52,755,000 $493,037

    During 2023, Bank Of Hawaii's average interest rate for loans was 6.02%, while their most frequently originated rate bucket for loans was 5-6%, with 671 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 499 $138,655,000 $277,866 $10,232 6.12%
    $100k-200k 380 $53,400,000 $140,526 $6,928 6.07%
    $400k-600k 318 $144,020,000 $452,893 $14,400 5.83%
    $100,000 or less 278 $17,130,000 $61,619 $4,323 6.08%
    $600k-1MM 221 $171,305,000 $775,136 $18,927 6.02%
    $1MM+ 112 $496,570,000 $4,433,661 $25,881 5.88%

    2023 saw Bank Of Hawaii place emphasis on $200k-400k loans with 499 originations, totaling $138,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 512 $182,890,000 $357,207 $16,562 6.04%
    $250k+ 473 $293,235,000 $619,947 $19,887 6.06%
    $100k-150k 430 $109,100,000 $253,721 $13,473 6.00%
    $75k-100k 170 $31,630,000 $186,059 $9,266 5.93%
    $50k-75k 111 $17,235,000 $155,270 $8,694 6.06%
    $50k or less 61 $6,625,000 $108,607 $8,033 5.93%

    Bank Of Hawaii lent most frequently to those with incomes in the $150k-250k range, with 512 originations. The second most popular income band? $250k+, with 473 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 269 $101,805,000 $378,457 $15,541 6.04%
    30-36% 235 $96,255,000 $409,596 $14,462 5.98%
    50-60% 215 $54,215,000 $252,163 $17,347 5.96%
    <20% 116 $29,080,000 $250,690 $12,020 6.07%
    44% 110 $51,720,000 $470,182 $17,170 6.33%
    49% 82 $31,850,000 $388,415 $17,549 5.97%
    43% 79 $31,715,000 $401,456 $15,106 6.08%
    40% 77 $29,685,000 $385,519 $16,336 5.92%
    42% 69 $27,855,000 $403,696 $15,126 6.08%
    39% 69 $25,105,000 $363,841 $16,437 6.01%
    41% 66 $26,780,000 $405,758 $17,457 6.02%
    48% 66 $28,060,000 $425,152 $17,763 6.17%
    47% 63 $19,445,000 $308,651 $16,080 6.07%
    38% 62 $25,760,000 $415,484 $17,955 5.97%
    45% 52 $14,020,000 $269,615 $13,908 5.89%
    37% 50 $19,860,000 $397,200 $19,182 5.82%
    36% 47 $17,045,000 $362,660 $16,947 5.90%
    46% 46 $12,260,000 $266,522 $13,348 6.03%
    >60% 6 $3,430,000 $571,667 $24,830 5.87%

    Bank Of Hawaii lent most frequently to those with DTI ratios of 20-30%, with 269 originations. The next most common DTI ratio? 30-36%, with 235 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 22 $367,910,000 $16,723,182 $0 6.09%
    Asian 684 $241,990,000 $353,787 $15,996 5.97%
    White 499 $172,525,000 $345,741 $15,402 6.15%
    Not provided 381 $170,265,000 $446,890 $17,754 5.92%
    Native Hawaiian or Islander 109 $35,465,000 $325,367 $14,231 6.07%
    Japanese 24 $8,020,000 $334,167 $16,029 5.99%
    Filipino 26 $7,390,000 $284,231 $12,560 6.51%
    American Indian 14 $4,730,000 $337,857 $10,250 6.16%
    Chinese 11 $3,785,000 $344,091 $12,964 6.45%
    Black 14 $3,440,000 $245,714 $10,533 6.08%
    Native Hawaiian 13 $2,795,000 $215,000 $10,092 5.94%
    Asian Indian 3 $915,000 $305,000 $11,534 6.82%
    Other Asian 3 $635,000 $211,667 $0 5.17%
    Other Pacific Islander 3 $555,000 $185,000 $0 5.36%
    Korean 1 $405,000 $405,000 $11,957 5.13%
    Guamanian 1 $255,000 $255,000 $0 8.05%

    Approval Rates

    Total approvals of all applications
    67.37%

    Bank Of Hawaii has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    77.93%

    Bank Of Hawaii has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,808 $1,021,080,000 $564,757

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,808 $1,021,080,000 $564,757

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 445 $136,525,000 $306,798 $10,290 5.98%
    40-60% 243 $176,935,000 $728,128 $15,408 5.93%
    60-80% 349 $282,445,000 $809,298 $18,034 6.17%
    80-100% 139 $75,795,000 $545,288 $15,613 5.92%
    Over 100% 7 $266,115,000 $38,016,429 $29,652 6.28%
    Under 20% 625 $83,265,000 $133,224 $7,815 6.04%