A guide to Payday Loans in
Hawaii, USA.
Q:What are the Citation (s) to Payday Loan or Small Loan Laws in Hawaii?
A: The relevant citation regarding Payday Loans in the Hawaii State Jurisdiction is 26 Hawaii Rev. Stat. Ann. § 480F-1 et seq.
Q: Are Payday Loans legal in Hawaii?
A: Yes Payday Loans are legal in Hawaii (Applies to check cashers only)
Q: What is the Maximum Cash Advance Loan Amount in Hawaii?
A: The maximum Cash Advance or Payday Loan amount is $600.
Q: What is the Maximum Payday Loan Term in Hawaii?
A: The Maximum Payday Loan Term in Hawaii is 32 days.
Q: What is the Maximum Rate and Fee for Cash Advance Loans in Hawaii?
A: The Maximum fee for Cash Advance Loans in Hawaii is 15 percent of check.
Q: What is the Finance charge for 14-day $100 payday loan in Hawaii State?
A: The Finance charge for 14-day $100 payday loan in Hawaii is $17.65.
Q: What is the APR for 14-day $100 payday loan in Hawaii State?
A: The APR charged for 14-day $100 payday loan in Hawaii is 459 percent.
Q: Is there a limit on the number of payday loans I can take at one time?
A: You can only take one loan at a time.
Q: How many times can the lender rollover my payday loan in Hawaii?
A: The payday loan cannot be renewed (rollover).
Q: If I cannot repay my payday loan can the lender initiate a criminal action?
A: No, the payday loan lender cannot initiate a criminal action if the borrower is unable to pay the loan (Unless check returned due to closed account or stop-payment by maker)
Q: Can I be charged a collection fee for a payday loan?
A: Yes, $20 NSF fee; Check Casher that accepts check passed on insufficient funds not entitled to recover damages.
Contact the Department Of Financial Institutions
If you have questions about payday loans please contact the Hawaii Department of Financial Institutions at:
Hawaii Department of Commerce and Consumer Affairs
Address: Consumer Resource Center, 235 S. Beretania Street, Rm 801 Honolulu, HI 96813
Phone: (808) 587-3222
Fax: (808) 586-2640
Website: http://www.hawaii.gov/dcca
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