Best Credit Builder Loans in Hawaii
Published: 8 July 2024
Author: Noah Gomez
Hawaii is unusual because it has 4 local lenders with credit builder loans whereas most states only have 1 or 2.
Finding the right credit builder loan takes time and effort, and
sometimes local institutions offer better terms than national offers. In Hawaii, we looked at almost every bank, credit union, and online provider to find the most cost-effective and quality options in the market.
Best Overall
Pearl Hawaii Federal Credit Union
Avg. Principal: 95% of Your Savings
Avg. APR: 2.25%
Avg. Length: 6 months
Pearl Hawaii's credit builder offers a fully-secured credit builder loan at 2.25% APR (national average is 7.78%). You must deposit the full amount of the principal up front, which is ideal for those with healthy cash but weak credit. Terms range from 1 month to 10.
Best from Bank (Physical)
American Savings Bank of Hawaii
Avg. Principal: [$1,000 + 90% of Your Savings] / 2
Avg. APR: 2.7%
Avg. Length: 60 months
Best from Credit Union
Pearl Hawaii Federal Credit Union
Avg. Principal: 95% of Your Savings
Avg. APR: 2.25%
Avg. Length: 6 months
Best from Digital Lender
Self
Avg. Principal: $1,798
Avg. APR: 15.85%
Avg. Length: 24 months
Best Hawaii-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Hawaii
Thick Credit is not a credit repair organization, a credit conseling agency, or a debtor education providor. It does not act on your behalf to communicate with credit reporting agencies or provide pre-bankruptcy credit counseling and pre-discharge debtor education for bankruptcy.
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