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The Fermi-Hubbard model (FHM) on a two dimensional square lattice has long been an important testbed and target for simulating fermionic Hamiltonians on quantum hardware. We present an alternative for quantum simulation of FHMs based on an adiabatic protocol that could be an attractive target for next generations of quantum annealers. Our results rely on a recently introduced low-weight encoding that allows the FHM to be expressed in terms of Pauli operators with locality of at most three. We theoretically and numerically determine promising quantum annealing setups for both interacting 2D spinless and spinful systems, that enable to reach near the ground state solution with high fidelity for systems as big as $6\times 6$ (spinless) and $4\times 3$ (spinful). Moreover, we demonstrate the scaling properties of the minimal gap and analyze robustness of the protocol against control noise. Additionally, we identify and discuss basic experimental requirements to construct near term annealing hardware tailored to simulate these problems. Finally, we perform a detailed resource estimation for the introduced adiabatic protocol, and discuss pros and cons of this approach relative to gate-based approaches for near-term platforms.