Kahului, Hawaii Mortgage Refinance Interest Rates
Discover the latest mortgage interest rates to make informed decisions about your home refinancing.
Average mortgage rates in Kahului, Hawaii
15-Year Fixed
5.25%from 5.23% last week
0.03%30-Year Fixed
6.03%from 6.08% last week
-0.04%30-Year Fixed Jumbo
6.01%from 6.08% last week
-0.07%Interest rate over time in Kahului, Hawaii
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Kahului, Hawaii
Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in HI, total loan amount of $228,000.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
Should You Refinance in Kahului?
4.6% annual appreciation
In Kahului's stable market, refinancing decisions should focus on interest rate comparisons. Even a 0.5% rate reduction can result in significant savings over the life of your loan.
Local Market Context
Kahului, Hawaii homes have a median value of $764,800, with 4.6% year-over-year appreciation. Consistent home values provide a solid foundation for refinancing decisions focused on lowering interest rates and monthly payments.
Property Tax Impact
Property taxes in Kahului, Hawaii average 0.31% of home value, which is lower compared to the national average. When refinancing, it's important to remember that your total monthly payment includes these taxes (approximately $198 per month for a median-valued home). A lower interest rate might reduce your principal and interest payment, but your property tax portion stays the same.
Calculate Your Exact Refinance Savings
Get a personalized analysis based on your specific mortgage details, compare multiple offers, and see your break-even point.
Use Refinance CalculatorWhat Interest Rate Drop Makes Refinancing Worth It in Kahului?
In Kahului's stable market with 4.6% annual appreciation, refinancing is generally worthwhile when you can reduce your rate by at least 0.75-1%. For a $764,800 home with an 80% LTV ($611,840 loan), dropping from 7% to 6% saves approximately $140/month. With typical closing costs around $15,296, you'd break even in about 109 months. If you plan to stay in your home at least 10 years, refinancing makes financial sense.
How Do I Calculate My Break-Even Point for Refinancing in Kahului?
Calculate your break-even point by dividing total closing costs by monthly savings. In Kahului, closing costs typically run 2-3% of your loan amount. If you're refinancing $611,840 (80% of Kahului's $764,800 median home value), expect around $15,296 in costs. Compare your current monthly payment to your new payment including the 0.31% property tax, insurance, and the new principal/interest. If refinancing saves $150/month, your break-even is 102 months. Don't forget to factor in how long you plan to keep the home.
Should I Refinance from a 30-Year to 15-Year Mortgage in Kahului?
Shortening your term from 30 to 15 years can save substantial interest and typically offers rates 0.5-0.75% lower. On Kahului's median home value of $764,800, you could save over $100,000 in interest over the loan's life. However, monthly payments increase significantly-a $611,840 loan at 6% jumps from approximately $4,153/month (30-year) to $5,330/month (15-year at 5.5%). Refinance to a 15-year if you can comfortably afford the higher payment and want to build equity faster in Kahului's stable market.
Can I Refinance If I Still Have PMI in Kahului?
Yes, and eliminating PMI is often a primary refinancing goal. PMI typically costs 0.5-1% of your loan amount annually. On a $611,840 mortgage in Kahului, that's $200-400/month. With 4.6% annual appreciation plus principal paydown, you may have crossed the 80% LTV threshold. If you purchased with 5-10% down 3-4 years ago, appreciation likely brought you to 20%+ equity. Refinancing removes PMI permanently (unlike conventional loans where it can take years to cancel), immediately lowering your payment even if you get the same interest rate.
Is a No-Closing-Cost Refinance a Good Deal in Kahului?
No-closing-cost refinances roll $18,355 in typical closing costs into your loan balance or offset them with a slightly higher interest rate (usually 0.25-0.5% higher). In Kahului's stable market, this makes sense if you plan to move within 3-5 years, avoiding the $102-month break-even period on traditional refinances. However, if you're staying long-term, paying closing costs upfront and getting a lower rate saves more money over time. Calculate both scenarios: upfront costs with lower rate versus no costs with higher rate over your expected timeline.