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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Hawaii Closing Costs Breakdown
Closing costs in Hawaii typically range from 2% to 3% of the purchase price. On a median home priced around $840,000, buyers should plan for $16,800 to $25,200 in total closing costs, with high title insurance premiums and conveyance taxes making Hawaii one of the pricier states at the closing table.
Transfer Taxes & Fees
Hawaii charges a conveyance tax on real property transfers, graduated by price tier. For homes up to $600,000, the rate is $0.10 per $100 (0.1%). Between $600,000 and $1 million it rises to $0.20 per $100 (0.2%), and above $1 million it reaches $0.30 per $100 (0.3%). The seller traditionally pays the conveyance tax, though this is negotiable.
Attorney Requirements
No, Hawaii is a title company state. Closings are typically handled by a title and escrow company rather than a real estate attorney. However, buyers are free to retain an attorney for complex transactions, particularly on leasehold properties or purchases involving multiple tax parcels.
Local Quirks & Need-to-Know
Hawaii has a significant number of leasehold properties, particularly in Honolulu, where a buyer purchases the structure but leases the land from a landowner. Leasehold closings carry unique risks and additional fees. Property taxes are low by national standards but are billed semi-annually. Non-resident buyers may be subject to HARPTA, a 7.25% withholding on the seller's proceeds for state tax purposes.