Annuities in Hawaii
Learn the basics of fixed and fixed indexed annuities in Hawaii: who oversees annuity sales, how the free-look period works, what the state guaranty association is and which questions to ask before you buy. This page is general education. Laws, limits and taxes change often, so a licensed professional can go over what applies in Hawaii today.
Good to know: this page is general education, not tax, legal or financial advice. Laws and taxes change often, and this page was last reviewed October 28, 2026. For the current rules in Hawaii, book a call and a licensed professional can go over what applies today.
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*AnnuityTown is paid per qualified lead by the licensed partner company it connects you with.
Licensed professionals can only help people in states where they are licensed. The licensed partner confirms whether it can help you in Hawaii when you reach out.
Here is general background on six topics that come up with fixed and fixed indexed annuities in Hawaii, gathered from public sources as of October 28, 2026. Laws and limits change, so treat these as a starting point and confirm the current details before you decide anything.
Hawaii requires a free-look period for annuity contracts. If the buyer's guide and disclosure document are not given at or before application, the period must be at least 15 days. Check the cover page of your contract for the period that applies to your purchase.
Source: Haw. Rev. Stat. §431:10D-603(c)
Hawaii has adopted the 2020 NAIC suitability model revisions. Producers must act in the consumer's interest when recommending an annuity, and insurers must maintain a supervision system. The requirements took effect January 1, 2023.
Source: Haw. Rev. Stat. §431:10D-621 et seq.
Hawaii Life & Disability Insurance Guaranty Association: $250,000 in present value of annuity benefits, including net cash surrender and net cash withdrawal values, per person, subject to the statute's aggregate per-person limits
Coverage has limits and conditions and applies only if an insurer becomes insolvent. It is not a reason to buy an annuity and does not replace checking an insurer’s financial strength. See current details at the association’s website.
Source: Haw. Rev. Stat. §431:16-203(c)(2)(C)
How annuity income is taxed in Hawaii depends on current state and federal law and on your own situation, and tax rules change often. AnnuityTown does not give tax advice. A tax professional can tell you what applies to you.
Whether an annuity is protected from creditors in Hawaii depends on current law and the facts of each situation. AnnuityTown does not give legal advice. An attorney licensed in Hawaii can tell you what applies to you.
Hawaii Insurance Division, Department of Commerce and Consumer Affairs licenses insurance professionals, oversees insurers and handles consumer complaints in Hawaii.
Visit the Hawaii Insurance Division, Department of Commerce and Consumer Affairs or call (808) 586-2790.
A licensed professional should answer these clearly. You never need to decide during the first conversation.
Ask what it costs to take money out early, and how much you can withdraw each year without a charge.
For a fixed annuity, ask how long the rate is set. For a fixed indexed annuity, ask about caps, participation rates and spreads.
Write down the date. Hawaii law gives you a set number of days to review the contract and return it.
Guarantees depend on the issuing insurer’s claims-paying ability. Ask about the insurer’s financial strength ratings.
Ask how federal and state taxes apply to your situation, and check with a tax professional.
Annuities are not insured by the FDIC. If the insurer that issued your annuity becomes insolvent, the Hawaii Life & Disability Insurance Guaranty Association may provide limited coverage of up to $250,000 in present value of annuity benefits, subject to conditions and limits. That coverage is not a substitute for reviewing an insurer's financial strength. This is general information as of the last review, and laws and limits can change.
How annuity income is taxed in Hawaii depends on current state and federal law and on your own situation, and tax rules change often. AnnuityTown does not give tax advice. A tax professional can tell you what applies to you, and a licensed professional can explain how annuities generally work.
Hawaii requires a free-look period for annuity contracts. If the buyer's guide and disclosure document are not given at or before application, the period must be at least 15 days (Haw. Rev. Stat. §431:10D-603(c)). Check your contract for the period that applies. This is general information as of the last review, and laws and limits can change.
Whether an annuity is protected from creditors in Hawaii depends on current law and the facts of each situation, and these laws change. AnnuityTown does not give legal advice. An attorney licensed in Hawaii can tell you what applies to you.
The Hawaii Insurance Division, part of the Department of Commerce and Consumer Affairs, regulates insurers and producers in Hawaii. You can reach the division at (808) 586-2790 or through cca.hawaii.gov/ins. This is general information as of the last review, and laws and limits can change.
This page is for general educational purposes only. AnnuityTown is not a law firm, tax advisor, financial advisor or insurance company, and nothing on this page is legal, tax, investment or insurance advice or a recommendation. State laws, limits and tax rules change often, and this page is not updated continuously, so it may not reflect current law (last reviewed October 28, 2026). Do not rely on it to make a decision.
Before you act, confirm the current rules with your contract, the Hawaii Insurance Division, Department of Commerce and Consumer Affairs, a tax professional or an attorney. A licensed professional with the licensed partner can also go over the current rules for Hawaii on a call.
Rules change often, so you do not have to keep up with them alone. A licensed professional can go over the current rules in Hawaii and the fixed and fixed indexed annuities you are considering. For personal tax or legal advice, talk with a tax professional or attorney. The licensed partner confirms whether it can help in Hawaii.
*AnnuityTown is paid per qualified lead by the licensed partner company it connects you with.