Oʻahu Housing Budget and Rent vs. Buy Calculator
See what a home could cost each month, how far your BAH or budget could go, and how renting and buying compare over 1 to 15 years. Every starting number shows its source and date, and you can change any of them.
Estimates, not advice and not a loan approval. Starting numbers last checked October 25, 2026.
What would a home cost each month?
Estimated monthly cost
$0 a month
Estimate, not advice and not a loan approval.
Rent or buy over 1 to 15 years
Compares the cash each choice takes and the net wealth each leaves you with. The renter is assumed to invest the down payment and closing costs instead, plus any month when renting costs less. The buyer invests any month when owning costs less.
Over 1 to 15 years
- Buy
- Rent
Year-by-year table
Assumptions in this estimate
Estimate, not advice and not a loan approval. Income taxes, the mortgage interest deduction, and taxes on investment or home sale gains are not included.
Want to run the numbers on a specific home? Let's talk story.
Where the starting numbers come from
Checked October 25, 2026. Boxes without a sourced number start blank and count as zero until you fill them in.
- Interest rate. Freddie Mac Primary Mortgage Market Survey: 30-year fixed 7.32% and 15-year fixed 6.68%, week of Oct 22, 2026. National averages. Source (opens in a new tab)
- Home prices. Honolulu Board of REALTORS®, Oʻahu Local Market Update, September 2026: median sales price $1,110,000 single-family, $523,000 condo. Source (opens in a new tab)
- Property tax. City and County of Honolulu, tax rates for July 1, 2026 to June 30, 2027 per $1,000 of net taxable value: Residential $3.50; Residential A (valued at $1 million or more with no home exemption) $4.00 on the first $1 million and $11.40 above it. Home exemption $120,000, or $160,000 at age 65 or older. Minimum tax $300. This estimate uses the price as the assessed value. Source (opens in a new tab)
- VA funding fee. VA.gov, rates in effect since April 7, 2023: first use 2.15% with under 5% down, 1.5% with 5% or more, 1.25% with 10% or more; after first use 3.3%, 1.5%, 1.25%. Charged on the loan amount. Some borrowers are exempt. Source (opens in a new tab)
- Rents. HUD Fair Market Rents, Fiscal Year 2027, Urban Honolulu: studio $1,836, 1-bedroom $1,951, 2-bedroom $2,542, 3-bedroom $3,520, 4-bedroom $4,249. Effective Oct 1, 2026. Gross rent including utilities. Source (opens in a new tab)
- Insurance. NAIC Homeowners Insurance Report (data year 2023, published 2026): Hawaiʻi average annual premium $1,549 homeowners (HO-3), $465 condo (HO-6), $178 renters (HO-4). Averages, not quotes. Source (opens in a new tab)
- Conveyance tax. Hawaiʻi Department of Taxation Form P-64A instructions (HRS 247-2): rates per $100 of the full sale price, from $0.10 under $600,000 to $1.00 at $10 million or more. Usually paid by the seller. The standard rates are used here. Source (opens in a new tab)
- Home price index. FHFA House Price Index, Urban Honolulu, second quarter 2026: up 11.06% in 1 year, 38.61% in 5 years, 269.34% since 1991. Shown for reference only. Source (opens in a new tab)
- PMI removal. Consumer Financial Protection Bureau: PMI generally ends automatically when the balance is scheduled to reach 78% of the original value. Source (opens in a new tab)
Want to run the numbers on a specific home?
Matt is glad to walk through a real listing with you, alongside your lender's numbers. No pressure.
