Best Personal Loans in Hawaii for 2024

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Reviewed byAlvin Yam, CFP
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Reviewed byAlvin Yam, CFP
Edited byRae Osborn
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Updated: April 25, 2024

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MoneyGeek's research highlights First Tech and PenFed as the best lenders for personal loans in Hawaii, scoring 98 and 96 respectively. They stand out for their great customer service, competitive rates and flexible terms.

MoneyGeek ranked the top lenders based on their range of APRs, reputation, transparency, credit score needed for a loan and flexibility of loan terms. Lenders will examine your credit score, income, and debt level compared to your income. With an average credit score of 732 (good credit) in Hawaii, according to Experian data from 2023, means that most people could qualify for a personal loan with favorable terms.


    Overall Best Personal Loan Lender in Hawaii

  • First Tech

    • 98MoneyGeek Score
    • 8.94% to 18.00%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 6 to 84 monthsRepayment Terms

    First Tech earned the top spot among Hawaii personal loan providers with a MoneyGeek score of 98 out of 100. The lender's APR range of 8.94% to 18.00% is competitive, particularly when centered against the analyzed APR averages. Customers benefit from both the highest ratings in rates and fees, showcasing affordability, and an exceptional customer service and education component. Furthermore, First Tech's repayment terms span 6 to 84 months, offering borrowers flexibility comparable to the best in the field.


    • Insured by the National Credit Union Administration (NCUA)
    • Doesn't charge an application or loan origination fee
    • Provides granular APR data for a variety of loan terms


    • Need to be a member to apply
    • Provides limited detail about the loan application process
    • Sparse published information about credit score requirements
    First Tech

    Runner-Up for Best Personal Loan Lender in Hawaii

  • PenFed

    • 96MoneyGeek Score
    • 7.99% to 17.99%APR Range
    • UndisclosedMinimum Credit Score
    • Up to $50,000Loan Amount Range
    • Up to 60 monthsRepayment Terms

    PenFed is MoneyGeek's runner-up selection for the best personal loan lender in Hawaii, boasting a score of 96 out of 100. Offering an APR range of 7.99% to 17.99%, PenFed's rates are competitive, falling below some higher APRs observed in the analysis. Their repayment terms extend up to 60 months, reflecting a degree of flexibility greater than many competitors. In particular, PenFed excels in providing clear and thorough information to consumers, as well as offering favorable loan terms and options that contribute to its high recommendation. PenFed Credit Union provides a balanced blend of transparency and adaptable loan products, making it an attractive option among Hawaiian lenders.


    • Offers some of the lowest APRs available
    • No early repayment penalty
    • No origination fee


    • $50 minimum monthly loan payment
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The amount of monthly debt payments you have relative to your monthly gross income is called your debt-to-income ratio, or DTI.

Most lenders prefer to see a debt-to-income ratio of 35% to 40% or below for secured loans and 40% to 45% or below for unsecured personal loans. Debt includes items like mortgages, car loans, credit cards, and existing personal loans. A debt-to-income ratio above 50% is considered high, so approval may be more difficult, or your loan may come with higher interest rates. — Alvin Yam, CFP®


Calculate Your Monthly Loan Payment

According to our analysis, lenders in Hawaii offer personal loan products averaging about 55 months. Explore your loan options using our personal loan calculator, a simple tool that calculates monthly payments and total loan costs based on the amount, interest rate and term length. This tool helps you make informed decisions before committing.


    Best Personal Loan Lender in Hawaii for Bad Credit

  • Happy Money

    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan provider in Hawaii for borrowers with low credit, scoring 94 out of 100. Although not a lender itself, Happy Money partners with federally insured financial institutions to offer competitive rates, with APRs ranging from 11.72% to 17.99%; this is below average compared to others for those with a minimum credit score of 640. They particularly stand out for customer-centric practices and transparent policies, making the borrowing experience more manageable and straightforward for users.


    • Works with 10 federally insured lenders to originate all loans
    • Transparent eligibility requirements, including credit score minimum
    • No application fee


    • The lenders they work with charge an origination fee
    • Longer time to wait for loan approval compared to other lenders analyzed
    Happy Money

    Best Personal Loan Lender in Hawaii for Debt Consolidation

  • Alliant Credit Union

    • 96MoneyGeek Score
    • 10.99% to 13.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    Alliant Credit Union is the top pick by MoneyGeek for Hawaii borrowers seeking to consolidate debt, offering competitive rates from 10.99% to 13.99%, which are attractive compared to the broader market. This provider stands out for having particularly competitive interest rates and an upstanding reputation for clear communication and openness about loan terms. The MoneyGeek score for Alliant Credit Union is 96 out of 100. Alliant is an online-only banking institution, requiring membership for at least 90 days to be eligible for a personal loan.


    • Among the highest loan limits available in our analysis
    • Insured by the National Credit Union Administration (NCUA)
    • Wide variety of loan types available


    • An online-only credit union, not having physical branches
    • Must maintain membership for 90 days prior to applying
    Alliant Credit Union
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Interest on personal loans is generally not tax deductible as personal loans are considered consumer debt. But there are some exceptions where the interest may qualify:

  • When consolidating high-interest qualifying debts like credit cards or student loans, if used to pay off those debts.
  • If used for home improvements that increase the home's value.
  • If the loan proceeds can be demonstrated as used exclusively for business expenses or starting a business.
  • In some cases, if the loan is used for investment purposes related to income-generating assets.

Alvin Yam, CFP®

Impact of Credit Score on Loan Repayment in Hawaii

When shopping for a personal loan in Hawaii, you should understand that lenders look at your credit score, credit history, income and debt-to-income ratio to determine if you qualify and on what terms. MoneyGeek's evaluation of the top personal loan providers in the state includes factors like APR ranges, lender reputation, transparency, minimum credit requirements and loan term flexibility.

A higher credit score can help you secure lower APRs, so consider enhancing your credit score before applying. Use the table below to see how your credit score could influence your monthly loan repayments.

Data filtered by:Results filtered by:
Credit Band:
Credit Band:690 to 719
Loan Amount:
Loan Amount:$2,000

This table offers an approximation of monthly payments, calculated using median personal loan interest rates typical for various credit score ranges. Please remember that these numbers are median estimates, provided for general guidance. They should not be taken as precise rates for everyone in each credit score category. Actual interest rates can differ due to lender-specific policies, prevailing market conditions, and unique borrower profiles.

Pros and Cons of Personal Loans in Hawaii

Personal loans are a multifaceted financial tool. They offer lower interest rates than many credit cards and the convenience of consolidating debts into a single, manageable payment. They also have benefits like fast funding and positively impact your credit history when repayments are made on time.

However, personal loans have their drawbacks, such as potential origination fees and prepayment penalties. For an in-depth look, understanding the pros and cons of personal loans is essential before proceeding.


FAQ About Personal Loans in Hawaii

If you have questions about personal loans, MoneyGeek has answers to help you make an informed decision before applying for a loan.

Who is the best lender in Hawaii for personal loans?
Where is the best place to get a personal loan in Hawaii?
Who has the best personal loan interest rates in Hawaii?
What can I use a personal loan for in Hawaii?
What are some personal loan red flags to look out for?
Do lenders consider income level when applying for a personal loan?
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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.