The Best Fixed Annuity and CD Rates in Hawaii (September 2023)

Shawn Plummer

CEO, The Annuity Expert

Aloha! Welcome to our comprehensive guide designed to help you navigate the sun-kissed financial waters of Hawaii (HI). In this guide, we’ll take you through shopping and comparing the best online CD rates and the highest interest rates on savings accounts available in Aloha State. But we don’t stop there. We’ll also dive into the tropical pool of the best bank money market rates and shed light on the reliable, long-term returns of fixed annuities with guaranteed rates. Whether your allegiance lies with traditional banks, community-centric credit unions, or the convenience of online platforms, we will help you find the optimal interest rates to grow your money. Embrace the Hawaiian spirit of “pono” (making the right choice) as you journey towards a prosperous financial future. Welcome aboard!

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Earn The Highest Interest Rates On Savings Today

Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income.

TermInsurance CompanyAPY
N/AMoney Market Account – Optimum Bank5.26%
N/AMoney Market Account – FVC Bank5.26%
N/ASavings Account – CloudBank 24/7 5.26%
12 MonthsBread Savings CD5.50%
48 MonthsClear Spring Fixed Annuity5.15%
5 YearsAthene Fixed Annuity5.30%
10 YearsEquitrust Fixed Annuity6.00%
*Fixed annuities are only for saving money to use in retirement.

Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. We aim to help you find the highest interest rates for your retirement savings. We may receive a small referral fee if you purchase something using a link in this guide.

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Find the highest interest rates for your savings, ranging from 3 months to 10 years, all in one place.

The Best CD Rates In Hawaii

CDs are low-risk investments that offer a fixed rate of return for a specified period of time. When you invest in a CD, you deposit a certain amount of money into an account, and in return, you receive a guaranteed interest rate for a set period.

The best CD rates in Hawaii vary based on several factors, including the length of the term, the type of CD, and the financial institution offering the CD. Here are some of the most popular CD options in Hawaii:

  • Short-term CDs: These CDs typically have a term of less than one year and offer a lower interest rate. They are ideal for those who want to invest less money and are looking for a short-term investment option.
  • Long-term CDs: These CDs have a term of five years or more and offer a higher interest rate. They are ideal for those looking for a long-term investment option and willing to tie up their money for a more extended period.
  • Jumbo CDs: These CDs require a large minimum deposit and offer a higher interest rate. They are ideal for those with a lot of money to invest and looking for a higher return.

3-Month CD Rates

Banks and credit unions have the highest CD rates for three months.

Best 3-Month CD RatesRateTermMinimum
Ponce Bank5.30% APY3 Months$1.00
Oklahoma State Bank5.35% APY3 Months$1.00
Western Alliance Bank5.21% APY3 Months$1.00

6-Month CD Rates

The following banks and credit unions have the highest CD rates for six months.

Best 6-Month CD RatesRateTermMinimum
Western Alliance Bank5.41% APY6 Months$1.00
Oklahoma State Bank5.40% APY6 Months$1.00
Generations Bank5.41% APY6 Months$1.00

1-Year CD Rates

The following banks and credit unions have the highest CD rates for 12 months.

Best 12-Month CD RatesRateTermMinimum
Western Alliance Bank5.51% APY12 Months$1.00
Bread Savings5.50% APY12 Months$1,500.00
Connexus Credit Union5.50% APY12 Months$1.00

2-Year CD Rates

Banks and credit unions have the highest CD rates for 24 months.

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union4.95% APY24 Months$1.00
Idabel National Bank4.90% APY24 Months$1.00
Bread Savings5.00% APY24 Months$1,500.00

3-Year CD Rates

Banks and credit unions have the highest CD rates for 36 months.

Best 3-Year CD RatesRateTermMinimum
Valley Bank5.60% APY36 Months$500.00
Bread Savings4.75% APY36 Months$1,500.00
The State Exchange Bank4.70% APY36 Months$1.00

4-Year CD Rates

The following banks and credit unions have the highest CD rates for 48 months.

Best 4-Year CD RatesRateTermMinimum
Bread Savings4.50% APY48 Months$1,500.00
The State Exchange Bank4.50% APY48 Months$1.00
Barclays4.45% APY48 Months$0.00

5-Year CD Rates

Banks and credit unions have the highest CD rates for 60 months.

Best 5-Year CD RatesRateTermMinimum
Bread Savings4.50% APY60 Months$1,500.00
Barclays4.50% APY60 Months$0.00
The State Exchange Bank4.35% APY60 Months$1.00

Maximizing Your CD Returns in Hawaii

To maximize your CD returns in Hawaii, you’ll want to shop around and compare the interest rates different financial institutions offer. You can compare CD rates online or visit local banks and credit unions for more information about their options.

It’s also important to consider the length of the term when investing in a CD. The longer the term, the higher the interest rate will be. However, you’ll also need to consider the opportunity cost of tying up your money for longer.

Finally, you may want to consider laddering your CDs. This involves investing in CDs with different terms so that when one CD matures, you can reinvest the funds into another CD with a longer term and higher interest rate. This can help you earn a higher return on your investment over time.

The Best Fixed Annuity Rates In Hawaii

Fixed annuities are investment products that offer a guaranteed rate of return for a specified period of time. When you invest in a fixed annuity, you make a lump sum payment, and in return, you receive a guaranteed rate of return for a fixed period, typically ranging from five to 20 years.

The best fixed annuity rates in Hawaii vary based on several factors, including the length of the term, the type of annuity, and the financial institution offering the annuity. Here are some of the most popular fixed annuity options in Hawaii:

Disclaimer: Products are subject to state availability. Please inquire below for details.

Next Steps

In conclusion, investing in CDs and fixed annuities can offer Hawaii investors the retirement funds they need while offering low-risk returns. We hope this guide has been useful in helping you to make an informed decision when it comes to investing in CDs or fixed annuities. With access to some of the best CD and fixed annuity rates in Hawaii, you can know that your money is safe and secure while building your wealth over time. If you have any additional questions or want a personal quote, please don’t hesitate to contact us today. We’re here to help you build a bright financial future for yourself and your family. Investing wisely now will pay off tomorrow!

The Best Fixed Annuity And Cd Rates In Hawaii (Hi)

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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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