Hawaii Mortgage Rates Drift Higher — Then Walk Back — May 8, 2026
Published May 8, 2026 (updated end-of-day) · Verified against 7 Hawaii lenders
Today's 30-Year Fixed Rate Snapshot
| Lender | Rate | APR | Points | vs Apr 28 |
|---|---|---|---|---|
| HIFCU | 5.250% | 5.597% | 2.250 | — |
| BOH | 5.875% | 6.039% | 1.750 | +1.2bps |
| HSFCU | 6.000% | 6.189% | 2.000 | +2.4bps |
| ASB | 6.000% | 6.232% | 1.875 | +10.3bps |
| FHB | 6.000% | 6.310% | 2.250 | +12.0bps |
| CPB | 6.000% | 6.313% | 1.875 | +9.2bps |
| HSFCU | 6.250% | 6.345% | 1.000 | +18.0bps |
Sorted by APR (lowest first). 30-year fixed conforming purchase, 20% down, primary residence. Rates as of May 8, 2026. Changes vs April 28, 2026 (last verified baseline). HIFCU verification was Cloudflare-blocked today; values shown are last verified April 28.
A Rare Two-Stage Day: Up Then Partly Back
At Hawaii's open today, every major bank had moved its conforming 30-year up 12.5–25bps from the April 28 baseline. By the close, the picture had moderated. FHB's 30-year settled at 6.000% / 2.250 points / 6.31% APR, a +12bps APR move from April 28 and a -10bps PM walk-back from the morning print. The 15-year ended flat in rate at 5.250% with points trimmed to 2.250 (APR 5.75%). FHB ARMs (3/6, 5/6, 7/6, 10/6) all closed unchanged from April 28 levels.
The cleanest read on the day: lenders tested higher pricing, the bond market didn't cooperate, and several walked back in the afternoon. Borrowers who waited through the morning got a better number by close. With 2.250 discount points still required, the closing-cost burden remains meaningful — borrowers with limited cash should compare BOH's lower-points option (1.750) more closely.
CPB and ASB Walk Back the 15-Year Move
The two lenders most active in the PM session were CPB and ASB on their 15-year fixed. Both opened the day at 5.250% (+12.5bps from April 28) and closed back at 5.125% — unchanged on the week. CPB's 30-year ended at 6.000% / 1.875 points / 6.313% APR (up only 9bps from April 28's 6.221%). ASB's 30-year closed at 6.000% / 1.875 points / 6.232% APR (+10bps); 7/6 ARM walked back to 5.375% / 1.750 points / 6.081% APR (+4bps APR vs. April 28). HSFCU's 30-year added points to 2.000 lifting APR to 6.189% (+2bps); the 15-year ended at 5.250% / 1.750 points / 5.521% APR (+12.5bps).
BOH was the steadiest lender on the day. The 30-year held at 5.875% with points actually trimmed from 1.875 to 1.750, leaving APR essentially flat at 6.039% (April 28: 6.027%). BOH 30-year jumbo crept from 6.125% to 6.250% with points 0.875 → 0.625; jumbo-20 finished at 5.750%/5.921% APR; ARMs (5/6, 7/6, 10/6) all dropped 0.125 points by close. BOH retains the lowest 30-year APR among directly-verified lenders today at 6.039%, ahead of HSFCU at 6.189% and ASB at 6.232%.
FHB Cuts HELOC Promo Rates — The One Bright Spot
First Hawaiian Bank's May–June HELOC schedule (effective 5/1–6/30/2026) lowered both promotional intro rates. The 2-year intro APR dropped 35bps from 5.65% to 5.30%; the 5-year promo eased 10bps from 5.80% to 5.70%. The post-intro variable held at 8.36% APR. With BOH's 2-year intro at 5.40% and ASB's at 5.55%, FHB now offers the lowest bank intro on a 2-year HELOC promo in Hawaii.
Credit unions still beat all bank HELOCs on intro pricing: PHFCU's 4.50% intro for 36 months remains the lowest available, followed by HIFCU at 4.99% (24 months). HSFCU's 5.25% intro is also below every bank's introductory rate. For homeowners pulling equity in 2026, the credit union HELOCs continue to dominate on intro pricing — and on post-intro variable, where HSFCU's 6.50% beats every bank too.
ASB Trims a CD Special — Yields Drift Lower
ASB's deposits PDF (effective April 30, 2026) cut the 6-month CD Special 10bps from 2.85% to 2.75% APY (still requires $10,000 in new money from another institution). Hawaii's top CD specials are now: BOH 6-month Bankohana at 3.05% ($5K min), FHB 6-month online at 3.05% ($1K min), CPB Exceptional Preferred 6-month at 3.00% ($20K min, requires Exceptional Checking), and PHFCU's 8-month Special Certificate at 3.65% APY ($1K min) — the latter remains the highest-yield Hawaii CD on our board.
What This Means for Hawaii Buyers
The day's up-then-back move is a useful reminder that Hawaii lenders set rate sheets on a daily cycle and aren't always synchronized with the Treasury market. Borrowers who got an estimate at 9am may see a meaningfully different number by 4pm — and that's before next week's lender-by-lender resets. Net of today's round trip, conforming pricing is up only modestly from April 28: ~+10bps APR on average, not the +25bps the morning print suggested.
Practical implication: if you're in active shopping, don't lock on the morning quote alone. Get a same-day refresh after 2pm Hawaii time — and compare APRs (which include points) rather than headline rates. For homeowners eyeing equity, the FHB HELOC promo cut to 5.30% is a real opening, but the credit union HELOCs still beat it on both intro and variable pricing.
FAQ
What happened to Hawaii mortgage rates this week (May 1–8, 2026)?
Hawaii lenders saw an unusual two-stage move on May 8. In the morning, every major bank pushed conforming rates up 12.5–25bps. By close, several lenders walked the move partly back, trimming points or a half-step in rate. End-of-day vs. April 28 baseline: FHB 30-year +12bps APR (6.19% → 6.31%) at 6.000% rate / 2.250 points. BOH 30-year nearly flat at 5.875% rate, APR 6.027% → 6.039%. CPB 30-year +9bps APR to 6.313% (rate 5.875% → 6.000%). ASB 30-year +10bps APR to 6.232% (rate 5.875% → 6.000%); 7/6 ARM +4bps APR to 6.081%. HSFCU 30-year nearly flat at 6.189% APR (15-year +12.5bps to 5.250%/5.521%). HawaiiUSA FCU's mortgage page was Cloudflare-blocked today; prior 5.250%/5.597% APR is within our 14-day verification window but may have drifted.
What is the best Hawaii 30-year mortgage rate on May 8, 2026?
Among lenders we verified directly today, Bank of Hawaii holds the best 30-year APR at 5.875% rate / 6.039% APR (1.750 points). HawaiiUSA FCU's last verified 30-year was 5.250%/5.597% APR (April 28), still the lowest among Hawaii lenders if it held — but verification today was blocked by Cloudflare, so confirm directly with HIFCU. Hawaii State FCU's 30-year is 6.000%/6.189% APR. The cheapest path for Hawaii buyers in May 2026 remains a credit union when membership eligibility allows.
Why did First Hawaiian Bank cut its HELOC promotional rates?
FHB's HELOC pricing is set on a separate disclosure schedule from its mortgage rate sheet, currently effective May 1 through June 30, 2026. The 2-year introductory promo dropped 35bps from 5.65% to 5.30% APR; the 5-year promo eased 10bps from 5.80% to 5.70%. The post-introductory variable rate is unchanged at 8.36% APR. HELOC pricing tracks short-end rates (Prime Rate plus a margin) more closely than the 10-year Treasury that drives mortgages — and FHB's competitive set on home equity (Bank of Hawaii at 5.40%, ASB at 5.55%) likely pushed the marketing-rate adjustment.
Are CDs and savings rates moving with mortgages?
Mostly no. American Savings Bank trimmed its 6-month CD Special 10bps from 2.85% to 2.75% APY (effective April 30, 2026). All other Hawaii bank and credit union savings/CD rates we track held steady this week. Hawaii's CD specials remain notably below the national high-yield bank market — Hawaii's best CD on our list is FHB's 6-month online at 3.05% APY, while online banks elsewhere offer 4%+ on similar terms. The Bankohana Savings Special at BOH (3.15% APY for 90 days, $25K minimum, new money only) remains the highest-yield Hawaii savings product.
Did anything get cheaper for Hawaii borrowers this week?
Two things. First, FHB's HELOC promo rates dropped (2-year intro 5.65% → 5.30% APR, 5-year 5.80% → 5.70%). Second, BOH's 7/6 and 10/6 ARMs kept their rates unchanged even though points crept up — and BOH still offers the cheapest 30-year ARM family in the bank set. Personal loan rates were unchanged at every lender. Mortgages got more expensive at every bank we verified.
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Rate data sourced directly from lender websites on May 8, 2026. Rates reflect 30-year fixed conforming purchase with 20% down payment, 720+ FICO, primary residence, 45-day rate lock. APR includes points and fees. Changes shown vs April 28, 2026 (last verified baseline). HawaiiUSA FCU verification was blocked by Cloudflare today; HIFCU values shown are last verified April 28, 2026 (within 14-day verification window). Aloha Pacific FCU savings/CD entries removed today: alohapacific.com is fully bot-blocked, and prior data exceeds our 14-day staleness floor. Rates subject to change without notice. Not a lender. Compare all Hawaii mortgage rates →