Today we’ll check out the top mortgage lenders in Hawaii based on total loan volume.
These companies closed the most home loans in The Aloha State last year, beating out nearly 300 others that do business there.
In general, there are fewer mortgage companies operating in the state of Hawaii, so you tend to see only the bigger household names along with local banks and credit unions.
Still, one company managed to originate a lot more than the competition, making them the go-to spot for a mortgage in Hawaii.
Read on to see which bank or mortgage company ranked #1 in Hawaii.
Top Mortgage Lenders in Hawaii (Overall)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Bank of Hawaii | $3.0 billion |
| 2. | loanDepot | $2.0 billion |
| 3. | First Hawaiian Bank | $1.9 billion |
| 4. | Freedom Mortgage | $1.8 billion |
| 5. | American Savings Bank (HI) | $1.6 billion |
| 6. | Rocket Mortgage | $1.4 billion |
| 7. | UWM | $1.4 billion |
| 8. | Central Pacific Bank (HI) | $1.3 billion |
| 9. | Guaranteed Rate | $1.2 billion |
| 10. | Homepoint | $1.0 billion |
Coming in first was Honolulu’s own Bank of Hawaii, which funded $3 billion in mortgages during 2021, per Richey May.
That was a full billion more than second place SoCal-based loanDepot, which originated a respectable $2 billion there.
In third was another Hawaiian institution, First Hawaiian Bank, also Honolulu based, with a close $1.9 billion.
Taking the fourth spot was Boca Raton, Florida-based Freedom Mortgage with $1.8 billion, followed by Honolulu-based American Savings Bank (HI) with $1.6 billion.
Others landing in the top 10 included Rocket Mortgage, United Wholesale Mortgage, Central Pacific Bank (HI), Guaranteed Rate, and Homepoint.
In total, four of the top 10 mortgage lenders in Hawaii are based out of Honolulu. Not surprising as local names tend to do the most business there.
Top Hawaii Mortgage Lenders (for Home Buyers)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Bank of Hawaii | $881 million |
| 2. | Guaranteed Rate | $698 million |
| 3. | First Hawaiian Bank | $672 million |
| 4. | American Pacific Mortgage | $616 million |
| 5. | loanDepot | $577 million |
| 6. | UWM | $547 million |
| 7. | American Savings Bank | $530 million |
| 8. | Central Pacific Bank | $488 million |
| 9. | Freedom Mortgage | $435 million |
| 10. | Wells Fargo | $375 million |
When looking solely at home purchase lending, Bank of Hawaii remains the leader with $881 billion funded.
In second was Chicago-based Guaranteed Rate with a close $698 million, followed by First Hawaiian Bank with $672 million.
Taking fourth was Roseville, CA-based American Pacific Mortgage with $616 million, trailed by loanDepot with $577 million.
The rest of the best included UWM, American Savings Bank (HI), Central Pacific Bank, Freedom Mortgage, and finally Wells Fargo.
That means half of the top 10 home purchase lenders in the state of Hawaii are based in Hawaii.
Top Refinance Lenders in Hawaii (for Existing Homeowners)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Bank of Hawaii | $2.0 billion |
| 2. | loanDepot | $1.4 billion |
| 3. | Freedom Mortgage | $1.4 billion |
| 4. | Rocket Mortgage | $1.2 billion |
| 5. | First Hawaiian Bank | $1.0 billion |
| 6. | American Savings Bank | $967 million |
| 7. | UWM | $814 million |
| 8. | Homepoint | $770 million |
| 9. | Central Pacific Bank | $751 million |
| 10. | Pennymac | $602 million |
If we’re talking mortgage refinances only, which are reserved for existing homeowners, Bank of Hawaii tops the list with $2 billion funded.
They were followed by loanDepot with $1.4 billion in refis funded, and Freedom Mortgage with a similar amount.
Rocket Mortgage took fourth with $1.2 billion, and First Hawaiian Bank fifth with $1.0 billion in loan origination volume.
American Savings Bank (HI), UWM, Homepoint, Central Pacific Bank, and Pennymac made up the rest of the top 10.
For refis, four of the top 10 were Hawaii-based, similar to the overall total.
The Best Hawaii Mortgage Lenders
We’ve discussed the largest mortgage lenders in Hawaii. Now let’s talk top rated based on customer reviews.
I typically turn to Zillow for customer reviews as they are entirely mortgage-centric, even for banks and credit unions that offer other non-mortgage products.
As far as mortgage companies are concerned, Element Mortgage Hawaii (dba of American Pacific Mortgage) had the most reviews and a 4.94/5 rating.
Then there’s Ohana First Mortgage with 184 reviews and 4.99/5 rating, Hawaii Mortgage Company, Inc.’s 4.93/5 rating from 176 reviews, and Smart Money Inc.’s perfect score (5/5) from 161 reviews.
Some of these companies operate as mortgage brokers, which allows them to partner with wholesale lenders and shop on your behalf.
The big companies also have reviews on Zillow, including loanDepot (4.9/5), Freedom Mortgage (4.85/5), Rocket Mortgage (4.48/5), Guaranteed Rate (4.96/5), and Homepoint (4.89/5).
To sum things up, there are a lot of good lender options in the state of Hawaii, including big household names, local Hawaiian companies, and local individual mortgage brokers. Be sure to explore them all.
(photo: Pedro Szekely)
