Best Mortgage Lenders in Hawaii in 2019

ValuePenguin is a consumer finance website dedicated to providing consumers with clear, objective advice for the financial decisions they make every day. We've spent dozens of hours comparing mortgage lenders across Hawaii, from Hilo to Honolulu, to find the best lenders for you.

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Recommended ForLenderMin. Credit ScoreHighlights
First-Time HomebuyersBank of Hawaii620
  • Largest branch network with locations on every Island
  • Most popular mortgage lender in Hawaii
RefinancingFirst Hawaiian Bank620
  • Second-fastest growth rate among top refinancers over the past 5 years
  • Hawaii's oldest and largest bank
Online LoansQuicken Loans620
  • Received J.D. Power's highest award in customer satisfaction for nine years in a row
  • Fast loan processing closes weeks earlier than competitors
VA LoansNavy Federal Credit Union620
  • Received J.D. Power's second-highest customer satisfaction rating among military lenders in 2018
  • Fastest-growing military lender in Hawaii
Poor CreditGuild Mortgage580
  • Among Hawaii's fastest-growing FHA lenders
  • Received J.D. Power's third-highest customer satisfaction rating in 2018
Recommended ForLenderMin. Credit Score
First-Time HomebuyersBank of Hawaii620
RefinancingFirst Hawaiian Bank620
Online LoansQuicken Loans620
VA LoansNavy Federal Credit Union620
Poor CreditGuild Mortgage580

To find the lender that's right for you, you'll need to find the optimal mix of low rates and reliable service. This is especially important due to the high cost of real estate in Hawaii, which can cost you tens of thousands of dollars more in additional interest when it comes to differences of a fraction of a percent.

Our team of mortgage experts combed through the most popular lenders in Hawaii and assembled a list of top picks to make your search easier. Check out one of our reviews to find out more about the best lenders in the Aloha State.

Best Mortgage Lender for First-Time Homebuyers: Bank of Hawaii

We picked Bank of Hawaii as our top lender for first-time homebuyers due to its low fixed-rates and convenient branch network. With over 32,000 loans originated over the past five years, no other mortgage lender is more active in Hawaii.

Bank of Hawaii
Bank of Hawaii

Consider this if You're looking for an experienced local lender with the most competitive rates.

Good For …Bad For …
  • Competitive rates on fixed-rate products
  • Native Hawaiian lessees eligible for expanded low-down payment financing
  • Limited selection of conventional fixed-rate products
  • Not as competitive on government loan products

Bank of Hawaii is an excellent place to begin shopping for your first starter home. If you’re nervous about shopping for your first mortgage, you can relax, as you'll encounter a seamless online and in-person borrowing experience at Bank of Hawaii guided by a dedicated loan officer. Once you're ready to proceed, you can apply online, call one of its loan officers over the phone, or visit one of its 64 branch locations across the Hawaiian Islands for a face-to-face consultation.

We found that Bank of Hawaii provided some of the lowest-rate quotes across the board for both its fixed-rate mortgage and adjustable-rate mortgage products. When compared to other major lenders in the state, its 30-year fixed rate came in almost 0.25% lower than some of its major competitors. On a $600,000 home, that can mean the difference of as much as $26,000 in extra interest charges over the life of your mortgage.

Not only is Bank of Hawaii the most popular mortgage lender in Hawaii, it's also the most active lender when it comes to both refinancing and home equity mortgage products, which gives it excellent long-term staying power as a lender. Customers who build lifelong relationships with the lender may qualify for its most lucrative offers and are more likely to get first dibs on its best products.

Best Mortgage Lender for Refinancing: First Hawaiian Bank

First Hawaiian Bank secured the top spot in our ranking for mortgage refinancing. While it comes in behind Bank of Hawaii in loan volume, First Hawaiian has seen the fastest growth-rate in refinance loans among Hawaii's top local lenders.

First Hawaiian Bank
First Hawaiian Bank

Consider this if You want the lowest possible rate on your mortgage refinance.

Good For …Bad For …
  • Dedicated loan officer and in-house servicing
  • Notable selection of adjustable rate products
  • Average fixed-rate offers when compared to other local lenders
  • Government loan programs like FHA, VA and USDA mortgages

If you're thinking about refinancing your mortgage, you probably recognize that it's one of the best ways to save money in the long run. However, like most Hawaiians, you probably don't relish the thought of having to put together a complicated application and deal with pushy bankers. Fortunately, First Hawaiian Bank (FHB) places a great deal of emphasis on personalized customer service. You won't have to worry about getting shuffled around when dealing with FHB's professional bankers; once you begin your application, you'll receive a dedicated mortgage banker who will assist you from start to finish.

First Hawaiian Bank is a dependable lender that has been rapidly gaining popularity over the past five years. It increased its loan volume by a stunning 15% since 2013, the fastest growth-rate among Hawaii's top local lenders. FHB also services all of its mortgage loans in-house, which means you'll always be able to contact your dedicated loan officer even after the loan has closed, unlike large national lenders, who often outsource the servicing aspect to apathetic third-parties.

Best Online Mortgage Lender: Quicken Loans

Quicken Loans is our best online mortgage lender thanks to its exceptional track record for customer service and user-friendly application process. Quicken has seen the fastest growth-rate in refinancing mortgages over the past five years and stands among the top two lenders in FHA and refinance loans originated in Hawaii.

Quicken Loans
Quicken Loans

Consider this if You want a fast and convenient online mortgage process.

Good For …Bad For …
  • Flexible loans which allows users to customize their terms
  • Competitive rates for refinancing
  • Average rates for conventional loans
  • Doesn’t offer home equity loans or HELOCs

If you're nervous about using an online lender, you can take comfort in the fact that Quicken Loans received J.D. Power's top rating in customer satisfaction for nine years in a row. Not only will Quicken's expert loan officers guide you through every step of the process, they'll underwrite and disburse your loan in record time. In fact, studies have shown that online lenders like Quicken can close mortgage loans as much as a week earlier than traditional brick-and-mortar lenders.

While Quicken doesn't boast the lowest mortgage rates around, it makes up for it with its convenience and flexibility as a lender. Quicken’s unique YOURGage product allows borrowers to structure their home loan into almost any loan term inside of eight to 29 years. This is a perfect option if you have specific monthly payments you'd like to meet, or simply desire an option outside the typical Fannie Mae framework. However keep in mind that Quicken charges relatively high loan fees when compared to other lenders; if you're looking for the cheapest options around, consider taking a look at some of our other lender recommendations.

Best Mortgage Lender for VA Loans: Navy Federal Credit Union

Navy Federal Credit Union is our No. 1 recommendation for veterans, service members and their families. It's the fastest growing military lender in Hawaii and has seen its VA loan volume increase by more than 18% over the past five years.

Navy Federal
Navy Federal

Consider this if If you're looking for a top-notch VA lender with an enduring reputation for customer service

Good For …Bad For …
  • Highly accessible lender with branches located in military bases around the world
  • Borrowers who want to minimize the amount they pay out of pocket
  • Borrowers unaffiliated with the military
  • Can’t upload or track applications online

If you're stationed at one of Hawaii's 11 military installations, then you may have given some thought into buying a home in America's most scenic state. If so, it's worth taking a look at a VA loan from Navy Federal Credit Union. These mortgages feature excellent benefits like 0% down payments, without any PMI requirements. Navy Federal even allows eligible borrowers to finance the VA funding fee on these loans, which isn't always an option with other lenders.

Navy Federal Credit Union has originated over 1,300 VA loans across Hawaii since 2013, the third-highest volume of any military lender in the state. It also offers bank accounts, credit cards and other financial products, which are especially useful to borrowers who relocate frequently, and want to keep all of their finances with one widely accessible entity. Navy Federal maintains branches across the world, which makes it easy to access regardless of where you’re stationed.

Finally, Navy Federal trounces its bank counterparts when it comes to customer service. The lender was awarded J.D. Power's second-highest customer satisfaction rating of any military lender in 2018. While you will need to become a member to qualify, it's still worth checking in with Navy Federal for a free rate quote, as the lender provides one of the best selections of low down payment loans catering to veteran borrowers.

Best Mortgage Lender for Poor Credit: Guild Mortgage

Guild Mortgage is our top lender for borrowers who need an extra hand when it comes to down payments or credit, thanks to its diverse selection of government-backed mortgage products. Guild is one of the fastest-growing FHA lenders among mortgage companies in Hawaii.

Guild Mortgage
Guild Mortgage

Consider this if You're having trouble getting approved elsewhere for a conventional mortgage loan.

Good For …Bad For …
  • Borrowers who need down payment assistance
  • Borrowers who have fair to average credit
  • Home equity loans and second mortgages
  • Online rate quotes

If you're having trouble meeting the minimum thresholds for a conventional mortgage, it's worth looking into government-backed mortgage programs like FHA or USDA home loans with Guild Mortgage. These loans are backed by the federal government and allow for credit scores as low as 580, with down payments as low as 3.5%. Guild Mortgage is currently one of the most active FHA lenders in Hawaii based on total loan volume.

Guild's usefulness as a mortgage lender isn't limited to those with poor credit. First-time homebuyers may also struggle with mortgage qualification due to a lack of credit history. Guild Mortgage is an excellent choice for buyers unfamiliar with the mortgage process, as it features experienced loan officers who can walk you through the homebuying process with the click of a button. Guild Mortgage also performs admirably when it comes to customer service, and the lender consistently ranks among J.D. Power's top-performing lenders for customer satisfaction.

Most Popular Home Loan Companies in Hawaii

We've included the five most popular mortgage lenders in Hawaii below based on the number of home loans originated over the past five years. This is a good place to start if you don't already have a specific lender in mind.

Top 5 Biggest Hawaii Residential Mortgage Lenders, 2013–2019

RankCompanyMortgage originationsAverage mortgage amount
1Bank of Hawaii32,037$291,776
2American Savings Bank22,080$250,294
3First Hawaiian Bank18,143$351,125
4Central Pacific Bank13,520$380,114
5Wells Fargo9,750$475,045

When loan shopping, make sure you obtain rate quotes from multiple lenders to ensure you're getting the best terms around. This is especially important in Hawaii, due to the high cost of local housing and prevalence of high-balance and jumbo mortgage loans. Rate differences of a fraction of a percentage may cost you tens of thousands of dollars in additional interest over the life of your loan.

How We Chose the Best Mortgage Lenders in Hawaii

We evaluated each lender's unique terms and reputation. While comparing rates among multiple lenders, we factored in lender fees in addition to interest rates to make the total cost of each mortgage comparable. When looking at lenders with similar terms, we also reviewed qualitative factors like customer service and accessibility. In summary, we looked at the following traits:

  • Total cost: interest rates and fees
  • Product: terms, loan types and specialty
  • Servicing: transparency, complaint rates and branch network

We emphasized loan terms that weren't widely offered for each lender. For example, lenders who offered government-backed programs like FHA were rated higher when it came to down payment assistance. Depending on the category we looked at, we assigned greater weight toward certain traits than others.

We compared the number of complaints logged through the Consumer Financial Protection Bureau against the total number of mortgage originations for each lender. This helped us forecast how likely it was for issues to arise during the mortgage process. Higher complaint rates were penalized relative to lenders with fewer infractions. Each lenders branch network and web interface were also reviewed to gauge their accessibility and ease of use.

Mortgage Brokers Near Me in Hawaii

Mortgage brokers shop home loans on your behalf and are useful for any borrowers who have trouble qualifying for a mortgage on their own, or want someone to find them the best terms possible. We've included a list of Hawaii's top-rated mortgage brokers in the table below.

NameAddressPhone Number
First Hawaiian Mortgage Association1188 Bishop St #1002, Honolulu, HI 96813(808) 521-9999
Aloha Lending Services94-1024 Waipio Uka St # 207, Waipahu, HI 96797(808) 671-0977
Island Home Loans688 Kinoole St, Hilo, HI 96720(808) 961-0605
Hawaii Mortgage Experts LLC6700 Kalanianaʻole Hwy, Honolulu, HI 96825(808) 394-1133
Transpacific Mortgage Group, LLCA, 99-1115 Aiea Heights Dr a, Aiea, HI 9670(808) 540-5908
B&B Mortgage Solutions45-1144 Kamehameha Hwy # 404, Kaneohe, HI 96744(808) 236-4289
Finance Integrity Home Loans LLC17 Furneaux Ln #201, Hilo, HI 96720(808) 961-6099
Motto Mortgage Aloha480 Kamokila Boulevard Suite 104, Kapolei, HI 96707808.687.8987
Aloha Mortgage Loans1325 S Kihei Rd # 220, Kihei, HI 96753(808) 874-7008
Mahalo Mortgage Corp.1620 Glen Avenue, Wahiawa, HI 96786(808) 621-2622
Madison Miller

Madison is a former Research Analyst at ValuePenguin who focused on student loans and personal loans. She graduated from the University of Rochester with a B.A. in Financial Economics with a double minor in Business and Psychology.

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Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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