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Best homeowners insurance in Hawaii for 2023

Bankrate found that the best homeowners insurance companies in Hawaii are State Farm, Allstate, Ocean Harbor and Corebridge Financial (formerly AIG)

Updated Oct 25, 2023
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
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Compare the best homeowners insurance companies in Hawaii

Based on our review of the top Hawaii home insurance providers, Allstate, Ocean Harbor Insurance Group and State Farm stand out as some of the best carriers. Based on our research, and data from Quadrant Information Services, these home insurance companies offer affordable rates, multiple coverage options, generous discounts and good scores in the J.D. Power 2022 U.S. Home Insurance Study.

Insurance company AM Best J.D. Power score Average monthly premium Average annual premium
A++
829
/1,000
$37
$444
Read review
A+
815
/1,000
$30
$358
Get a quote
Ocean Harbor
Not rated
Not rated
$43
$521
Get a quote
A
Not rated
$38
$456
Get a quote
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

The top four home insurance companies in Hawaii

State Farm

Best for digital tools

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 444 for $250k dwelling coverage
State Farm Review Get a personalized quote

Why State Farm made our list: In addition to standard home protection, State Farm offers a fire safety program through a partnership with Ting that you won't find with other companies. State Farm will send eligible policyholders a free device that monitors your home's electrical system and alerts you of any issues via a mobile app. For those who prefer to do business in person, State Farm has many local exclusive agents across Hawaii. For tech-savvy homeowners, State Farm took the second spot in the J.D. Power 2022 U.S. Insurance Digital Experience Study for overall customer satisfaction. It is important to note that while it scored above average in the J.D. Power 2022 U.S. Home Insurance Study, State Farm received a higher-than-baseline number of complaints per the National Association of Insurance Commissioners (NAIC). Homeowners with customer service at top-of-mind may want to read policyholder reviews.

Who State Farm may be good for: Those who prioritize digital convenience and want to be able to manage their policies and claims with digital tools.

Allstate

Best for discounts

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: 815/1,000 AM Best: A+

Average annual premium

$ 358 for $250k dwelling coverage
Allstate Review Get a personalized quote

Why Allstate made our list: On average, Allstate has some of the cheapest homeowners insurance rates in Hawaii, based on the carriers on our list. In addition, the company has excellent financial strength. Allstate stands out for its savings opportunities for Hawaii homeowners, with discounts for new customers, automatic payments, new homebuyers and having an active home security system. The company also has some endorsements that may help round out your policy, including yard and garden coverage, electronic data recovery coverage and business property coverage. However, Allstate does have a higher-than-average complaint index score from the NAIC, indicating that more policyholders complain about Allstate than average for a company of its size. Additionally, it scored just under the segment average for overall customer satisfaction per J.D. Power.

Who Allstate may be good for: Allstate offers standard policy options for homeowners, with some endorsements, but it really shines when it comes to discounts.

Ocean Harbor

Best for add-on coverage options

JD Power: Not rated AM Best: N/A

Average annual premium

$ 521 for $250k dwelling coverage
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Why Ocean Harbor made our list: Ocean Harbor Insurance Group is a regional home insurance carrier. The company offers a wide variety of add-on coverage choices for Hawaii homeowners, including debris removal, water and sewer backup and ID recovery. There are also potential home insurance discounts for insuring a new home, having an active security system and using hurricane-proof building materials. However, Ocean Harbor has some downsides, like a lower AM Best financial strength rating than other companies we studied in the state. Based on average rate data, it also tends to be more expensive than other companies.

Who Ocean Harbor may be good for: Ocean Harbor may be a good fit for those who want an insurer that specializes in their home's region over others.

Corebridge Financial (formerly AIG)

Best for high-value insurance

JD Power: Not rated AM Best: A

Average annual premium

$ 456 for $250k dwelling coverage
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Why AIG Property Casualty Co made our list: While AIG won't be for everyone, people with high-value homes may find the higher coverage limits and extra home protections included in AIG homeowners policies essential. However, these plans have some barriers: homes must have a dwelling coverage limit of at least $750,000 and the company does not sell standalone home insurance policies. Instead, AIG only offers home insurance coverage to AIG Private Client Group policyholders. When it comes to perks, though, AIG does include some valuable additions to its home insurance policies. Policies include guaranteed replacement cost coverage and disaster mitigation services. 

Who AIG may be good for: AIG Property and Casualty Co may be a good fit for homeowners looking for policies geared toward high-value homes.  

How Bankrate chose the best home insurance companies in Hawaii

To find the best Hawaii homeowners insurance, we reviewed some top Hawaii home insurance companies using our unique methodology. Based on the findings, we assigned each company a Bankrate Score out of five points. Bankrate Scores are calculated using factors like affordability, coverage options, customer service, financial strength and online and mobile tools.

When comparing home insurance companies in Hawaii, using Bankrate Scores to guide your search can be helpful. Companies that receive a high score are generally well-rounded, with good offerings across the board. On the other hand, low Bankrate Scores may indicate shortcomings in multiple areas, such as price or customer satisfaction.

Clock Wait
46
years of industry expertise
Search
122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

How much is home insurance in Hawaii?

The average cost of homeowners insurance in the Aloha State is $382 per year for $250,000 in dwelling coverage, which is significantly less than the national average of $1,428 per year for the same amount of coverage. 

Hawaii's low home insurance rates could be due to windstorm coverage being excluded from most home insurance policies. Hurricanes are one of the most prominent natural disasters in the area and homeowners must purchase standalone windstorm or hurricane coverage. Depending on the structure, age of the home and several other factors, the cost of hurricane coverage can be between a few hundred and a few thousand dollars per year. Hawaii is one of 19 states with a windstorm deductible that is separate from the homeowners insurance policy flat deductible. It usually ranges between one and five percent of the total policy premium. 

According to Hawaii Wildfire Management Organization (HWMO), 0.5 percent of land burns every year in Hawaii, which is on par with the average amount of wildfire damage that occurs in the western states. Historically, wildfire damage is a covered peril under most home insurance policies.

Insurance company $150K $250K $350K $450K $750K
$322
$444
$634
$829
$1,407
$241
$358
$474
$591
$955
Ocean Harbor
$380
$521
$692
$839
$1,289
$307
$456
$606
$804
$1,443
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Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

The cities with the cheapest average rates for homeowners insurance in Hawaii are Honolulu, Tripler Army Medical Center, Aiea, camp H M Smith and Ewa Beach. Average rates for $250K in coverage are almost tied between all five cities. Below, you can see the average cost for home insurance in these five cities and how those prices compare to the state average.

  • Honolulu: $379 per year – 0.79% below the state average
  • Tripler Army Medical Center: $379 per year – 0.79% below the state average
  • Aiea: $380 per year – 0.52% below the state average
  • Camp H M Smith: $380 per year – 0.52% below the state average
  • Ewa Beach: $380 per year – 0.52% below the state average

The cities with the most expensive average rates for homeowners insurance in Hawaii are Anahola, Captain Cook, Eleele, Haiku and Hakalau. All five of these cities are tied for the most expensive average rates in Hawaii. Below, you can see the average cost for home insurance in these five cities and how those prices compare to the state average.

  • Anahola: $385 per year – 0.79% above the state average
  • Captain Cook: $385 per year – 0.79% above the state average
  • Eleele: $385 per year – 0.79% above the state average
  • Haiku: $385 per year – 0.79% above the state average
  • Hakalau: $385 per year – 0.79% above the state average

How to find the best cheap home insurance in Hawaii

Home insurance can provide financial security and peace of mind even if you're not on a mortgage. Without a homeowners policy, you'll have to pay for damages, repairs or replacements out of pocket. In Hawaii, buying such a policy will set you back far less than in most states. Follow the steps below to help you find the best cheap home insurance in Hawaii.

  1. Assess coverage needs: Before looking for a policy, you'll want to know the types and amounts of coverage that will meet your needs. This is often based on the cost of replacing a home.
  2. Shop around: To find the best rates, it often helps to pull quotes from multiple insurers so that you can see what each will offer you. When doing this, it's important to specify the same types and amounts of coverage on each quote.
  3. Select a company: Once you've received your quotes, it's time to review them and select your preference. This may be the cheapest one, or it might be one that offers unique perks or coverage options.
  4. Apply for a policy: Once you've selected the company, it's time to apply for a policy. You can usually apply online, over the phone, or in person. Of those three, online applications may be the most available.

Common home insurance discounts in Hawaii

Even with average rates as low as they are in Hawaii, finding lower rates won't hurt. Company discounts can be an excellent way to lower your rates further. Keep in mind that discounts vary by company and eligibility requirements vary between discounts. Below are some of the home insurance discounts that may be found across the Aloha State, as recommended by the state government's Consumer Guide to Home Insurance.

Home insurance coverage options in Hawaii

In addition to standard home insurance coverage types like dwelling coverage, personal property coverage and liability coverage, you may want to consider tailoring your policy to Hawaii's unique risks. For example, hurricane damage is not included in standard Hawaii home coverage and requires a separate policy. Here are some additional coverage options you might want to consider:

  • Flood insurance: Damage caused by flooding is not covered under a standard home insurance policy. This is typically a separate policy, but some home insurers offer it as an endorsement. The policy may even be required if you have a mortgage or live in a high-risk flood zone. Flood insurance can be purchased through the federally backed National Flood Insurance Program or private flood insurers.
  • Earthquake insurance: Just like flood damage, earthquake damage is not usually covered by a standard home insurance policy. You can often purchase earthquake insurance as an endorsement, but if you are in a particularly high-risk area, you may need a separate policy.
  • Landscaping: Many Hawaii homeowners invest time into their yards and gardens. To offer additional protection for these external areas of your property, you may want to consider purchasing increased landscaping or garden coverage from your home insurer.

Working with a local insurance agent may be helpful when determining what coverage to purchase.

News

News that affects Hawaii homeowners

In the early morning hours on August 8, 2023, a wildfire started in Maui and rapidly became the most destructive wildfire Hawaii experienced in over 100 years. While this fire is still ongoing, Bankrate's insurance editorial team will make every effort to update readers regarding emergency news and impactful insurance coverage and regulation changes.

  • The affected areas are Maui, in the Lahaina, Kihei and Upcountry Maui regions. 
  • No one yet knows how the Lahaina fire started, but the winds of a nearby hurricane caused the fire to spread rapidly — so fast that Hawaii's integrated outdoor warning system, composed of 400 alarms, didn't activate to alert islanders of the danger. 
  • At the time of publication, 99 people are confirmed dead after only 25 percent of Maui has been searched.
  • Currently, about 2,200 buildings have been destroyed or severely damaged, with 86 percent being private dwellings.
  • Property damage is estimated $5.6 billion, which means it is the second largest loss event in Hawaii history behind Hurricane Iniki in 1992, according to the Insurance Information Institute (Triple-I)
  • Hawaii Cares 988 has partnered with Aloha United Way 211 and Hawaii Red Cross to help people impacted and displaced by the Lahaina fires. Maui County residents can also contact FEMA Disaster Assistance for aid.
  • July 27, 2023: Universal Property and Casualty (UPC) announced its withdrawal from the Hawaii market, affecting policy renewals September 1, 2023. This impacts all of its homeowners, condo and renters policies.

Frequently asked questions

Written by
Joshua Cox-Steib
Contributor, Personal Finance

Joshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute