Kihei, Hawaii Mortgage Refinance Interest Rates
Discover the latest mortgage interest rates to make informed decisions about your home refinancing.
Average mortgage rates in Kihei, 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 Kihei, Hawaii
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Kihei, 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 Kihei?
4.6% annual appreciation
In Kihei'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
Kihei, Hawaii homes have a median value of $845,900, 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 Kihei, 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 $219 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 CalculatorHow Much Can I Save Refinancing a High-Value Home in Kihei?
With Kihei's median home value at $845,900, even small rate reductions yield significant savings. Refinancing an $676,720 loan (80% LTV) from 7% to 6.5% saves approximately $240/month, or $2,876 annually. Over 30 years, that's over $86k in total savings. With appreciation of 4.6% annually, you may have built substantial refinanceable equity.
Are Jumbo Refinance Rates Different in Kihei?
While Kihei's median home value is $845,900, many homes exceed the $806,500 jumbo threshold. Jumbo refi rates sometimes run 0.25-0.5% higher than conforming rates, but portfolio lenders and credit unions often offer competitive jumbo rates for well-qualified borrowers. Shop at least 3-5 jumbo-specialized lenders, as rate spreads can vary by 0.5-1%. With Kihei's 0.31% property tax rate, your total monthly payment includes substantial property taxes-factor this into your savings calculation when comparing rates.
How Much Equity Can I Access with Cash-Out Refinancing in Kihei?
With 4.6% annual appreciation in Kihei, your home equity may have grown substantially. Most lenders allow cash-out refinancing up to 80% LTV. If your $845,900 home has appreciated and you currently owe $507,540, you could potentially access $169,180 in cash (80% LTV minus current loan). Popular uses include home renovations, investment properties, or debt consolidation. Cash-out rates typically run 0.25-0.625% higher than rate-and-term refinances, and closing costs on larger loans can reach $20,302.
What Are Refinancing Closing Costs on Kihei's Higher-Priced Homes?
Refinancing closing costs in Kihei typically run 2-3% of the loan amount but include higher dollar amounts given home values. On a $676,720 refinance (80% of median $845,900 value), expect $16,918-$20,302 in costs, including appraisal ($600-900 for higher-value homes), title insurance (varies by loan size), lender fees (0.5-1% origination), and escrow setup. However, on large loans, even a 0.5% rate drop breaks even in 71 months or less, making refinancing worthwhile.
How Does the Mortgage Interest Deduction Affect Kihei Refinancing?
The mortgage interest deduction (limited to interest on $750,000 of principal for loans after 2017) provides significant tax benefits on Kihei's higher-value homes. On a $676,720 loan at 6.5%, you'll pay approximately $43,987 in interest the first year-but can only deduct interest on the first $750k. At a 35% marginal tax rate, you save around $15k annually in taxes. When refinancing, consider whether you're resetting the amortization clock (paying more interest early on, which is deductible). Consult a CPA about SALT cap implications given Kihei's 0.31% property tax rate.