Best HELOC Rates and Best HELOC Lenders in Hawaii (2024)

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Updated: July 26, 2024

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The best home equity line of credit (HELOC) lender in Hawaii is U.S. Bank. Homeowners can secure a line of credit from this lender, which offers an APR range from 8.95% to 13.1% and loan amounts that stretch from $15,000 to $750,000. In addition, clients benefit from a 0.5% discount with autopay and a manageable annual fee of up to $75. You can find U.S. Bank both online and in physical branches across Hawaii. MoneyGeek analyzed various factors to determine the best lender, beyond just cost.

There are six HELOC lenders that MoneyGeek scrutinized for Hawaii. While there are other HELOC providers, they might not have been considered in the study. Among the local options, Hawaii State Federal Credit Union, Hawaii Federal Credit Unio and HawaiiUSA Federal Credit Union stand out for their unique offerings that cater specifically to the financial needs of residents.

Best HELOC Lenders in Hawaii

Best Overall: U.S. Bank

Best for Affordability: Regions Bank

Best for Bad Credit: U.S. Bank

Best for Large Loan Amounts: Bank of America

Best for Debt Consolidation: PNC Bank

We evaluated each lender in our research against a rubric including APR ranges, annual fees and affordability.

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Our analysis was completed in July 2024 and includes lenders that do business in Hawaii.

6Lenders Analyzed

    Overall Best HELOC Lender in Hawaii

  • U.S. Bank
    • 8.95% to 13.1%APR Range
    • $15,000 to $750,000Loan Amount Range
    • 660Minimum Credit Score
    • 10-year draw period; up to 20-year repayment periodRepayment Terms
    • Up to $75Annual Fees

    U.S. Bank is the top pick for the best HELOC lender for homeowners in Hawaii. Its offerings include a competitive APR range from 8.95% to 13.1%. Homeowners can borrow between $15,000 and $750,000, suiting various financial needs. It also provides a 0.5% discount for autopay enrollment, potential savings over the life of the loan.

    With a low minimum credit score requirement of 660, it's accessible to a wider audience. U.S. Bank is accredited by the BBB, though it currently does not have a rating.

    Pros

    • No closing costs
    • Offers fixed-rate option
    • Prequalify online

    Cons

    • Closing requires in-person visit
    • Early closure fee up to $500
    • Annual fee of $75 charged
    U.S. Bank

HELOC Rates in Hawaii By Credit Score

When getting a home equity line of credit (HELOC), homeowners in Hawaii should note that APR varies by credit scores and LTV ratios below 80%. Rates differ based on repayment terms. Review the provided table to see rate adjustments for various parameters.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% - 95%
HELOC (10 year)APR7.38%
HELOC (15 year)APR7.38%
HELOC (20 year)APR7.38%

Where does this data come from?

When exploring HELOC options in Hawaii, comparing APRs from various lenders can save money over time. A lower APR means reduced interest payments, affecting monthly costs and overall loan affordability. Take the time to review rates because it directly influences the long-term expense of your borrowing experience.

HELOC Calculator: Do You Qualify in Hawaii?

Your the loan amounts you can borrow against your house in Hawaii is increased by high home equity increases potential loan amounts. A report by TransUnion indicates that total tappable equity is also a factor.

HELOC eligibility hinges on factors like equity and credit score. Hawaii residents have an average score of 732, as reported by Experian — if your score is nearby, your odds are promising. Use the HELOC calculator to gauge your position better.

HELOC Calculator
Discover borrowing capacity, interest rates, and make informed financial choices with confidence!
You may be eligible for a HELOC. Because you have an LTV at or below 85%, you may be approved for a home equity line of credit.
10 Years Payoff Scenario
$732/mo
Eligible to Borrow
$62,500
Loan-to-Value Ratio
80%
Note: Lenders set varying limits on the acceptable Loan-to-Value (LTV) ratio, depending on the property type (owner-occupied or investment). Typically, owner-occupied homes have a higher acceptable LTV, often capped at 85%.

    Best HELOC Lender in Hawaii for Affordability

  • Regions Bank
    • 9% to 15.88%APR Range
    • $10,000 to $500,000Loan Amount Range
    • UndisclosedMinimum Credit Score
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • NoneAnnual Fees

    Regions Bank is the top choice for homeowners in Hawaii searching for cost-effective HELOC options. With APRs ranging from a low of 9% to a high of 15.88%, it ensures a balance between accessibility and cost. It stands out for charging no annual fees, meaning extra savings for you. And by setting up autopay, you could lower your rate by 0.25% to 0.50%.

    Pros

    • Minimum loan amount is only $10,000
    • Offers assistance during financial hardship
    • Offers 0.25% to 0.50% for autopay

    Cons

    • Does not disclose credit score
    • Imposes early closure penalty
    • Loan-in-a-Line costs $100
    Regions Bank

How does MoneyGeek recommend lenders for affordability?


    Best HELOC Lender in Hawaii for Bad Credit

  • U.S. Bank
    • 8.95% to 13.1%APR Range
    • $15,000 to $750,000Loan Amount Range
    • 660Minimum Credit Score
    • 10-year draw period; up to 20-year repayment periodRepayment Terms
    • Up to $75Annual Fees

    U.S. Bank is the best HELOC lender for homeowners in Hawaii with bad credit. Even with a credit score of 660, you can secure a line of credit with a cap of 13.1% APR.

    U.S. Bank also offers a 0.5% discount on rates with autopay, potentially reducing costs further. The minimum line amount is just $15,000. For residents of Hawaii, these features provide a flexible and potentially more affordable option to leverage home equity despite a lower credit score. U.S. Bank is accredited by the BBB, though it currently does not have a rating.

    Pros

    • Offers a fixed-rate option
    • No closing costs
    • Minimum line amount is only $15,000

    Cons

    • Must close in person at a center
    • Early closure fee up to $500
    • No financial hardship assistance
    U.S. Bank

How does MoneyGeek recommend lenders for people with bad credit?


    Best HELOC Lender in Hawaii for Large Loans

  • Bank of America
    • Starting at 9.82%APR Range
    • $25,000 to $1,000,000Loan Amount Range
    • UndisclosedMinimum Credit Score
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • NoneAnnual Fees

    Bank of America is the best HELOC lender for large loan amounts in Hawaii. A HELOC can fund home renovations or higher education costs. Homeowners can benefit from its large loan amount (up to $1 million) and a long repayment period (a 10-year draw period with a 20-year repayment term).

    Bank of America has no annual fees, offering financial flexibility without extra costs. Also, its financial hardship assistance supports homeowners when they face unexpected challenges.

    Pros

    • Introductory rate of 6.99% for six months
    • No application, annual, or closing fees
    • Financial hardship assistance offered

    Cons

    • Charges a $450 early closure fee
    • Closing must be done in person
    • Minimum loan $25,000 online
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender in Hawaii for Debt Consolidation

  • U.S. Bank
    • 8.95% to 13.1%APR Range
    • $15,000 to $750,000Loan Amount Range
    • 660Minimum Credit Score
    • 10-year draw period; up to 20-year repayment periodRepayment Terms
    • Up to $75Annual Fees

    U.S. Bank is the top pick for homeowners in Hawaii looking to consolidate higher-interest debts like credit card balances or personal loans. A HELOC can be effective for this purpose, offering lower interest rates, swift access to funds and significant lending limits.

    U.S. Bank's HELOC resonates well with these needs, with a minimum APR of 8.95% and a maximum of 13.1%, which can undercut many creditors. Customers can receive their funds in as little as three business days, and they can borrow between $15,000 and $750,000. These features, matched with the ability to prequalify online and an A+ BBB accreditation, facilitate debt management for borrowers.

    Pros

    • No closing costs
    • Prequalify online available
    • Interest-only payment option

    Cons

    • Closing must be done in person
    • Charges a $75 annual fee
    • No disclosed customer service hours
    U.S. Bank

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Hawaii

After MoneyGeek's top picks for HELOC lenders in Hawaii, you might seek other choices. These strategies will streamline your search for a lender that fits your unique financial situation.

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    Define Your HELOC Goals

    Understanding how you plan to use your Hawaii HELOC helps pinpoint the right lender. Whether for home renovations, debt consolidation or education costs, each lender may tailor its product to fit different needs.

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    Assess Lender's Credibility

    Always verify a lender's standing before committing. Check the Better Business Bureau for ratings and customer feedback. Additionally, review their record with the Hawaii Division of Financial Institutions to ensure proper regulation.

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    Compare Loan Features

    Look beyond rates; compare loan features, including closing costs, repayment terms and borrowing limits. Shopping around gives you a clear view of what's fair in Hawaii's market.

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    Check Community Standing

    A lender’s reputation in Hawaii may reflect their service quality. Awards and local recognition point to a lender's commitment. Talk to neighbors or local business groups for personal experiences and insights.

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    Evaluate Lender Flexibility

    Flexibility is key in a HELOC. Find a lender who offers interest-only payments or a fixed-rate HELOC conversion. Easy application processes, like online prequalification, are signs of a borrower-friendly lender.

FAQ: HELOC Lenders and Rates in Hawaii

Navigating HELOC options can be smoother with the right knowledge. We answers to common questions that will guide you in choosing a lender that aligns with your financial goals, ensuring you get the best terms available in Hawaii.

What’s a good HELOC rate in Hawaii? What are the best HELOC rates in Honolulu?
Which HELOC lender is best overall in Hawaii?
Can I still qualify for a HELOC in Hawaii if I have bad credit?
Which HELOC lender in Hawaii is best for large loans?
Can I use a HELOC to consolidate debt?
How can I ensure I find the right HELOC lender in Hawaii for me?

About Zachary Romeo

Zachary Romeo headshot

Zachary Romeo is the Head of Loans and Banking at MoneyGeek, with over 10 years of experience and forthcoming certification as a Commercial Banking and Credit Analyst (CBCA). Previously, he led production teams for some of the largest online informational resources in higher education.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt through people-first content.

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