Total monthly cost of ownership
Cost to Own a Home in Waimalu, Hawaii
A $598,000 home here costs
$4,305per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,074. The real number is $1,231 higher every month — 40% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Waimalu against Honolulu County and Hawaii
| Measure | Waimalu | Honolulu County |
|---|---|---|
| Median home value | $597,700 | $873,000 |
| Median property tax | $1,406 | $2,482 |
| Effective tax rate | 0.235% | 0.284% |
| Median gross rent | $1,892 | $2,054 |
| Population | 14,176 | 1,003,666 |
The weather behind that power bill
Waimalu sits in Honolulu County, which averages a high of 85.6°F in its hottest month and a low of 64.4°F in its coldest, with 21.78" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 3,609 cooling and 0 heating degree days, which is what sets the $467 electricity line above.
See the full climate breakdown for Honolulu County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Honolulu County
Full Honolulu County cost breakdown · Every county in Hawaii
Common questions
How much does it cost to own a home in Waimalu?
A $598,000 home in Waimalu, Hawaii costs approximately $4,305 per month with 20% down at 6.66%. That is $3,074 principal and interest, $117 property tax, $80 homeowners insurance, $535 utilities and $498 set aside for maintenance.
What is the property tax rate in Waimalu?
Waimalu has an effective property tax rate of 0.235%, based on a median home value of $597,700 and median real estate taxes of $1,406. That is lower than the Honolulu County average of 0.284%.
What is the average home price in Waimalu?
The median owner-occupied home value in Waimalu, Hawaii is $597,700, against $873,000 across Honolulu County.
Is it cheaper to rent or buy in Waimalu?
Median gross rent in Waimalu is $1,892 a month, against $4,305 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waimalu — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Hawaii.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.