Fiber reinforced polymer composites are quickly gaining market share in structural applications, but further growth is limited by their lack of toughness. Fiber hybridization is a promising strategy to toughen composite materials. By combining two or more fiber types, these hybrid composites offer a better balance in mechanical properties than non-hybrid composites. This study presents the effect of different interlaminar hybridization and cutout sizes on the vibration and buckling characteristics of hybrid fiber metal laminates (HFMLs) subjected to partial edge loads by developing finite element formulation. Since the stress distribution within the plate element is highly non-uniform in nature, the dynamic approach has been used to solve the buckling problems wherein two sets of boundary conditions are used, one for pre-buckling stresses and other one for buckling load calculations. A 9-noded heterosis plate element has been used to discretize the plate by taking into account the effect of shear deformation and rotary inertia. The present study consists of aluminum metal face sheets bound with four layered symmetric hybrid cross-ply laminate schemes. In this scheme, six different hybrid combinations have been considered. The performance of each hybrid combination is investigated under various loading combinations. Further, the effect of different parameters such as boundary condition, cutout ratio, width and position of localized edge loads, plate aspect ratio, and hybrid configurations are included in this work. It is revealed from the study that the hybrid configurations under different cutouts significantly affect the vibration and buckling characteristics under different localized edge loads.