Best HELOC Lenders in Hawaii (November 2024)

HawaiiUSA Federal Credit Union is the best HELOC lender in Hawaii, with a MoneyGeek score of 96 out of 100. It offers an average APR of 9.00% for both $50K and $100K line limits. The draw period of 10 years and the repayment period of 20 years can benefit borrowers in Hawaii by providing extended time frames for accessing and repaying funds.

Borrowers can benefit from the ability to borrow up to $1 million and make interest-only payments during the draw period. However, membership is required to apply, and the lender doesn't disclose minimum credit score requirements — which could be considerations for potential applicants.

Pentagon Federal Credit Union is the runner-up for the best HELOC lender in Hawaii, with a MoneyGeek score of 94 out of 100. It offers an average HELOC APR of 8.00% for $50K and $100K line limits. The credit union provides a 10-year draw period and a 20-year repayment period, which can benefit borrowers in Hawaii by offering extended time to access funds and repay the loan.

Borrowers can benefit from the option to switch from a variable to a fixed rate and the ability to make interest-only payments during the draw period. However, it's important to be aware of the $99 annual fee and the minimum line amount of $25,000.

Central Pacific Bank is the best HELOC lender in Hawaii for affordability, with a MoneyGeek score of 94 out of 100. Its average HELOC APR of 9.50% can help borrowers in Hawaii manage costs effectively. The 10-year draw period provides flexibility, allowing borrowers to access funds as needed over a decade, while the 20-year repayment period offers manageable monthly payments.

Borrowers prioritizing affordability will benefit from the ability to borrow up to $1 million and the option for interest-only payments during the draw period. However, the bank charges an annual fee of $50, which could add to the overall cost.

First Hawaiian Bank is the best HELOC lender in Hawaii for service quality, with a MoneyGeek score of 100 out of 100. It offers an average HELOC APR of 9.89%, with a draw period of 10 years and a repayment period of 20 years.

First Hawaiian Bank provides multiple ways to contact its customer service support. It also boasts an A+ BBB rating, which can benefit borrowers prioritizing service quality. Note that it charges a $100 annual fee and requires property insurance.