By   – Real Estate Editor, Pacific Business News

Homebuyers in Honolulu have the highest mortgage debt-to-income ratio in the nation, while homebuyers on Maui have a ratio that’s third-highest in the U.S., topped only by San Jose in California’s Silicon Valley, according to a report by the personal finance company SmartAsset.

Homebuyers in the Honolulu metropolitan area have mortgages worth 3.959 times their annual income, on average, according to an analysis of data from the Consumer Financial Protection Bureau.

The data showed that Honolulu homebuyers have an average income of $131,639 and that the average mortgage is for $521,201.

Maui homebuyers in the Kahului-Wailuku-Lahaina metro area have an average income of $131,681, and the average mortgage there is $468,597, putting their mortgage-to-income ratio at 3.559.

By contrast, homebuyers in San Jose have an average income of $207,062 and an average mortgage of $740,693, giving them a ratio of 3.577.

California had 17 of the top 25 cities with the largest mortgage-to-income ratios on the list, while Hawaii had two of the top three.

Nationally, the average mortgage-to-income ratio was 2.119.

“The goal of all our studies is to get people thinking about personal finance issues,” AJ Smith, SmartAsset’s vice president of financial education and author of the report, told Pacific Business News. “To look at what the mortages are compared to the income that they’re making.”