Calculate using real Honolulu data. Median home price: $720,000. Property tax rate: 0.35%.
With the median household income of $82,108 in Honolulu, HI, following the 28% rule, you could afford a monthly payment of about $1,916.
The cost of living index in Honolulu, HI is 175 (national average = 100). A home at the median price of $720,000 would require roughly 8.8x the median income.
A conventional 20% down payment on the median Honolulu, HI home ($720,000) would be $144,000. FHA loans may require as little as 3.5% ($25,200).