Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Credit Unions vs Payday Loans in Honolulu, HI
17 credit unions are headquartered in Honolulu, with 552,942 members in total. Credit unions are member-owned and often offer small personal loans and payday alternative loans (PALs) at far lower rates than payday lenders.
- Credit unions
- 17
- Members
- 552,942
- Federal
- 17
- State-chartered
- 0
Credit unions vs payday loan stores in Honolulu
Honolulu has 17 credit unions headquartered here and 3 payday, installment and title loan stores. Local credit unions count 552,942 members — roughly 133 memberships per 100 residents.
Credit unions
17
4.1 per 100k residents
552,942 members
Payday & loan stores
3
0.7 per 100k residents
2 store chains
Biggest loan store chains in Honolulu: loanDepot (2), OneMain Financial (1).
Borrowing $500 for 6 months in Honolulu
| Option | Payment | Total cost of borrowing |
|---|---|---|
| Installment loan at the Hawaii rate cap (36% APR) | $92.30/mo | $53.79 |
| Credit union PAL (28% APR) | $90.27/mo | $41.62 |
| Payday loan renewed every 2 weeks (typical $15 per $100, not available in Hawaii) | $75.00 every 2 weeks | $975.00 |
- Monthly payment at the Hawaii rate cap vs median monthly household income
- 1.1%
Example calculation with fixed monthly payments; the payday row shows typical out-of-state pricing for comparison. Actual rates and terms vary by lender.
What it means for a household in Honolulu
- Median household income
- $98,737
- A $400 emergency equals
- 1.5 days of income
- Households earning under $25,000
- 12.4%
- Residents below the poverty line
- 10.6%
Income and poverty: U.S. Census Bureau, American Community Survey, by ZIP code; figures for Honolulu are population-weighted and approximate. Hours of work are based on the median individual income.
Payday loans vs credit union PALs: the rules in Hawaii
| Payday loan in HI | Credit union PAL | |
|---|---|---|
| Legal status | Not allowed — storefront payday loans are banned | Offered by many federal credit unions |
| Rate cap | Capped at 36% APR (2021 Law) | Up to 28% |
| Term | Usually 2–4 weeks, due in one payment | 1 to 12 months, in installments |
| Credit check | Usually none; a bank account and income are required | Membership required; payments can be reported to credit bureaus |
Payday rules: Hawaii law as summarized on our Hawaii payday page. PAL rules: National Credit Union Administration (NCUA) rules for federal credit unions (PAL I and PAL II); state-chartered credit unions may offer similar small loans.
Credit unions headquartered in Honolulu
| Credit union | Address | Members | Website |
|---|---|---|---|
| Hawaii State Federal Credit UnionFederal | 333 Queen St Honolulu, HI 96813 | 138,998 | hawaiistatefcu.com |
| Hawaiiusa Federal Credit UnionFederal | 1226 College Walk Honolulu, HI 96817 | 130,552 | hawaiiusafcu.com |
| Aloha Pacific Federal Credit UnionFederal | 3465 Waialae Ave. Ste 400 Honolulu, HI 96816 | 70,841 | alohapacific.com |
| Hawaiian Financial Federal Credit UnionFederal | 1138 N King St Honolulu, HI 96817 | 51,839 | hificu.com |
| Lokahi Federal Credit UnionFederal | P.O. Box 30025 Honolulu, HI 96820 | 45,557 | lokahifcu.com |
| University of Hawaii Federal Credit UnionFederal | PO Box 22070 Honolulu, HI 96823 | 35,354 | uhfcu.com |
| Honolulu Federal Credit UnionFederal | P.O. Box 235862 Honolulu, HI 96823 | 19,786 | myhocu.com |
| Hawaii Central Federal Credit UnionFederal | 681 S King St Honolulu, HI 96813 | 16,294 | hawaiicentral.org |
| Hawaii Law Enforcement Federal Credit UnionFederal | 1936 S King St Honolulu, HI 96826 | 14,139 | hlefcu.com |
| Hawaii Federal Credit UnionFederal | P.O. Box 30207 Honolulu, HI 96820 | 11,567 | hawaiiusafcu.com |
| Honolulu Fire Department Federal Credit UnionFederal | 1200 N School S Honolulu, HI 96817 | 6,207 | hfdfcu.org |
| Hotel and Travel Industry Federal Credit UnionFederal | 1914 S King St Ste 100 Honolulu, HI 96826 | 4,514 | htifcu.com |
| Hawaii Schools Federal Credit UnionFederal | 233 Vineyard St Honolulu, HI 96813 | 3,352 | hawaiischoolsfcu.org |
| Hawaiian Electric Employees Federal Credit UnionFederal | 770 Kapiolani Blvd, Ste 514 Honolulu, HI 96813 | 1,838 | hecoefcu.org |
| Local Union 1186 Ibew Federal Credit UnionFederal | 1935 Hau St Ste 300 Honolulu, HI 96819 | 1,041 | ibew1186.org |
| Plumbers & Fitters Local 675 Federal Credit UnionFederal | 1109 Bethel St Lowr Level Honolulu, HI 96813 | 876 | plumbershawaii.com |
| Glover Federal Credit UnionFederal | PO Box 579 Honolulu, HI 96809 | 187 | — |
Payday and installment loan stores in Honolulu
For comparison: storefront payday, installment and title lenders in Honolulu with addresses, phone numbers and hours. Check a credit union first — a PAL or small personal loan usually costs far less.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 500 Ala Moana Blvd Suite 3-400 Honolulu, HI 96813 | (808) 913-5800 | — | 4.5 |
| 677 Ala Moana Blvd Ste 600 Honolulu, HI 96813 | (808) 800-2208 | — | 4.8 |
| 2320 S King St Honolulu, HI 96826 | (808) 949-2911 | — | 4.4 |
More about Honolulu
Only credit union headquarters are listed, with the address on file with the NCUA; phone numbers and branch locations are on each credit union’s website. Many credit unions also have branches in Honolulu and nearby — check membership requirements, as some are open to anyone who lives or works in the area. Loan stores: storefront locations of major payday, installment and title lenders; call ahead to confirm hours.