How much does it cost to heat and cool a 2,000 sq ft home in Hawaii?

In Hawaii (52.7¢/kWh via Hawaiian Electric (HECO)), a 2,000 sq ft home averages $976/year ($81/month) with a high-efficiency heat pump, $1,156/year with a natural gas furnace and central AC, and $1,812/year with electric baseboards.

Are heat pumps cheaper to run than gas furnaces in Hawaii?

At Hawaii's natural gas rate of $3.8/therm, the economic break-even electricity price for a COP 3.1 heat pump is 43.7¢/kWh. Comparing this against Hawaii's residential electricity rate of 52.7¢/kWh determines annual operating savings.

Hawaii Heating & Cooling Cost Calculator (2026)

2,000 Sq Ft Heat Pump Bill

$81/mo

HI Electricity / Gas Rate

52.7¢ / $3.8

15-Yr Savings vs Baseboard

+$8,940

Hawaii Annual Heating & Cooling Bills by Home Size

In Hawaii, a 2,000 sq ft home averages $976/year ($81/mo) using a cold-climate heat pump ($42/yr winter heating + $935/yr summer cooling), compared to $1,156/year with a natural gas furnace and $1,812/year with electric baseboards.

Home Size	Heat Pump (COP 3.1)	Gas Furnace + AC	Baseboard + Window AC	15-Yr Heat Pump Savings
1,000 Sq Ft	$488/yr ($41/mo)	$578/yr ($48/mo)	$906/yr ($76/mo)	+$2,670
1,500 Sq Ft	$732/yr ($61/mo)	$867/yr ($72/mo)	$1,359/yr ($113/mo)	+$5,805
2,000 Sq Ft	$976/yr ($81/mo)	$1,156/yr ($96/mo)	$1,812/yr ($151/mo)	+$8,940
2,500 Sq Ft	$1,220/yr ($102/mo)	$1,445/yr ($120/mo)	$2,265/yr ($189/mo)	+$12,075
3,000 Sq Ft	$1,465/yr ($122/mo)	$1,734/yr ($145/mo)	$2,718/yr ($227/mo)	+$15,195
3,500 Sq Ft	$1,709/yr ($142/mo)	$2,023/yr ($169/mo)	$3,171/yr ($264/mo)	+$18,330

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Verify 2026 Federal 25C Tax Credit & Hawaiian Electric (HECO) rebate eligibility and compare turnkey contractor pricing for a 3.0-Ton system (2,000 sq ft).

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