Hawaii Payday Loan Laws and Regulations

Find out if short-term Payday Loans are legal in Hawaii and what amounts, interest rates and repayment terms are set by the state's Legislation.

hawaii payday loans Rates and Terms

Legal Status

Legal Status

The status of a loan type according to the Federal laws and regulations. What concerns Payday Loans some states consider them legal, some – illegal and some restrict them in terms of amounts and interest rates.

Legal
Maximum Loan Amount

Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

$600
Maximum Loan Term

Maximum Loan Term

It’s the maximum period of time within which you are to allowed to pay off your loan.

32 day(s)
Maximum APR

Maximum APR

The maximum percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

459.00%
Finance Charges

Finance Charges

All the payments you’re going to be charged for the loan including APR and other fees.

Not more than 15% of the loan amount  
Legal Payday Loans Online for Hawaii residents

To be on the safe side, it's always better to be aware of your rights. Study the laws, rules and regulations concerning Payday Loans and other short-term cash advance in Hawaii. 

Compare top legit Payday Lenders in Hawaii:

LendYou is will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Varied
  • Rates and fees: Starting at 4.99% APR
  • Turnaround Time: 1 business day
  • $100 - $1000 Payday Loans
  • $1000 - $5000 Installment Loans
  • $5000 - $35000 Personal Loans
  • 18 years of age or older
  • U.S. citizenship
  • Valid checking or savings account with direct deposit
  • Minimum regular income of $1,000 per month
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
Pros
  • High up to $15,000 loan amounts. 
  • Minimal restrictions on how you can use your loan.
  • No collatera or guarantor.
  • Bad credit is OK. 
Cons
  • It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with. 

 

Check Into Cash offers Payday Loans, Title Loans, Personal Installment Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $50
  • MAX Loan Amount: $3000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Online Payday Loans
  • Title Loans
  • Installment Loans
  • Online Installment Loans
  • Line of Credit
  • Flex Loans
  • Other Services
  • Check Cashing
  • Bill Pay
  • Western Union 
  • U.S. Money Card
  • Cell Phone Top-Ups
  • Sell Us Your Gift Cards For Cash
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $50.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

PaydayloansUSA.online offers Payday Loans, Installment Loans, Personal Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Vary by state.
  • Rates and fees: 4.99% to 1386% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Installment Loans
  • Personal Loans
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • More than 300 direct lenders.
  • High approval rate even for bad credit Payday Loans.
  • Online Payday cash advance with no collateral.
  • 24 / 7 online service.
  • No hard credit check Payday Loans.
Cons
  • High interest rates.
  • Available not in all the states.
  • Not many financial products offered.

 

 

Table of Contents:

Are Payday Loans legal in Hawaii?

Hawaii Payday Loan Terms and Amounts

Hawaii Payday Loans online laws

Hawaii Payday Loans interest rates, fees and other finance charges

Hawaii Payday Loans direct lenders regulations

Hawaii Payday Loans consumer information

Legitimate Payday Loans online with NO credit check in Hawaii

Do Hawaii laws allow Payday Loans for bad credit borrowers?

Legit Payday Loans in Hawaii collection practices

Hawaii Payday Loans legislation latest changes

Hawaii Payday Loans historical background

Consider Hawaii Payday Loans alternatives to get instant cash

Are Payday Loans legal in Hawaii?

Short-term Payday Loans are legal in the state of  and are mostly regulated through 26 Hawaii Rev. Stat. Ann. § 480F-1 et seq.

hawaii revised statutes

The Payday Lending legislation covers all the parts of the process concerning:

  • Payday Loan amounts
  • Payday Loan repayment terms
  • Payday Loan online direct lenders
  • Payday Loan stores near you
  • Payday Loan interest rates and other fees
  • Payday Loan collecting practices
  • Payday Loan default penalties
  • The number of outstanding Payday Loans as well as a cooling-off period in-between etc.

Read more: Payday Loans in Hawaii

The main Payday Loan requirements in Hawaii are:

  • US residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address 

Any eligible Hawaii resident can apply for $600 Payday Loan amount. It should be repaid within 32 day(s). Earlier payments don’t contemplate any additional penalty fees. The interest rates are maximum 459.00%, but on average direct lenders charge 400% APR. For other details read further to find out how many Payday Loans you can borrow, whether rollovers or extensions are allowed, etc.

Hawaii Payday Loan Terms and Amounts 

Hawaii residents who are eligible for a Payday Loan can get up to $600 cash advance per contract. The repayment term is capped at 32 days.

hawaii payday loans

However, there are no limits on the purpose of loan usage. Any urgent expenses, unforeseen bills, car repair, home repair, etc. may seem a sound reason to apply for a Payday Loan in Hawaii.

If a Payday cash advance is not enough, there are always other options to receive the necessary funds in Hawaii: unsecured Installment Loans, bad credit Personal Loans, Title Loans, Check Cashing, Pawn Shops, etc.

Hawaii Payday Loans online laws 

Payday loans from both storefront and online lenders are legal in the state of Hawaii. But the companies should operate according to the The Hawaii Department of Commerce and Consumer Affairs, United States Post Office Custom House and Court House, 335 Merchant Street, Honolulu, Hawaii 96813, Telephone: (808) 587-3222 regulations.

Though there're some limits on how payday loans direct lenders should run businesses, still there are some. Reputable online lenders operating in accordance with all relevant state and federal laws can be applied to and compared on our platform using a simple online application form.

You state the necessary amount, fill in your personal information and get suitable offers from legit direct lenders. It takes only a few minutes and doesn't affect your credit score. 

Hawaii Payday Loans interest rates, fees and other finance charges 

The main part of payday loan payment is mostly made up of the interest rate, or APR. The maximum APR that may be charged for short-term cash advance in Hawaii is 459.00%.

Besides, the total cost of a Payday Loan includes some additional fees. Hawaii lending rules allow to charge $20 NSF fee.

The law obligates Iowa Payday Loan lenders to provide you with a written disclosure of all the rates and fees in the understandable language. You should read them carefully and if you agree acknowledge the notification by signing the contract.

Hawaii Payday Loans direct lenders regulations 

According to Hawaii payday loan laws all direct lenders are obliged to register their companies which will allow issuing payday loans contract. It concerns both Online Payday Loan direct lenders and lenders in a store near you.

Now, payday lenders are operating online to make it faster, easier and more convenient for borrowers to get the necssary funds. However, it is often illegal for online payday lenders to make loans to Hawaii consumers. Payday lenders, or direct deposit lenders, must be licensed by the state in order to run a lending business in Hawaii, and to be licensed, the lender is required to have a physical location in the state. Hawaii has put these laws in place to prevent consumers from getting  scammed on the web, and you should apply for online payday lenders loans with caution.

But Hawaii Payday Loan lenders are prohibited to threaten you for late payments or loan default and conduct any criminal actions against you.

Nevertheless, you should be careful not to come across any scams. Some unfair lenders can operate without license or under a different license and offer too expensive ‘payday loans’ under illegal conditions. Always check that the lender you are going to apply to works under Hawaii state law.

Hawaii Payday Loans consumer information 

Besides amounts, rates and fees, consumers must be also well aware of other details of Payday Loans in Hawaii. They include the availability and number of rollovers, extensions and repayment plan, a cooling-off period, any default penalties or additional fees, etc. Check out the table below to find the most essential information:

Rollovers or extensions None
Cooling-off period
NSF fee $20 NSF fee
Criminal actions Prohibited

Look for more detailed information on the official Iowa state regulator website - The Hawaii Department of Commerce and Consumer Affairs, United States Post Office Custom House and Court House, 335 Merchant Street, Honolulu, Hawaii 96813, Telephone: (808) 587-3222.

Legitimate Payday Loans online with NO credit check in Hawaii 

Looking for a legal Payday Loan with No credit check in Hawaii? You must understand the meaning of this phrase correctly at first. No credit check implies that a lender will not inquire your credit history information from or send your borrowing data to any of the three major credit bureaus Equifax, Experian and TransUnion.

If you don’t want to damage your credit history, Hawaii law allows you to apply for a Payday Loan with No credit check. But you should understand that a lender needs to check your creditworthiness at least in some way. He can perform a soft credit check when a lender pre-approves you for a loan and this inquiry will not appear on your credit report. Or there’re other ways to prove you can afford the cash advance. Payday Loan lenders use the tracking system to verify your debts, check your income, etc. And generally, they charge higher interest to lessen the risks.

Hawaii Payday loans online no credit check are one of the easiest options of getting quick cash to cope with emergency financial requirements, especially for the people with poor credit.

Does Hawaii law allow Payday Loans for bad credit borrowers?

The average credit score in Hawaii is 683, placing it in the good range. But it doesn't mean that those who have a worse credit can't apply for a Payday Loan in Hawaii. 

  • First of all, there're a lot of legit direct lenders in Hawaii providing Payday cash advance to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

Legit Payday Loans in Hawaii collection practices 

If you can’t repay the loan amount plus interest on a due date it means you default the loan. When Hawaii direct lender isn’t able to cash your check after the repayment term is over he may charge you an NSF fee. NSF fee means there are nonsufficient funds on your account. The amount charged is determined by the lender and stated in the agreement and may also be limited by the state’s Payday Loan law. In Hawaii it’s $20 NSF fee.

What concerns collection practices, first of all, you may stay assured that any criminal actions are forbidden in Hawaii. 

If you have unpaid debt in Hawaii, creditors may turn your account over to a debt collection agency. Hawaii’s Collection Agencies Act requires agencies collecting debt from anybody in Hawaii to register with the state Department of Commerce and Consumer Affairs.

Once your debt has been sold to a registered debt collection agency, there are a number of restrictions laid out by the federal Fair Debt Collection Practices Act (FDCPA) about how a collector can contact you and what they can discuss when they do. They may call you or send you letters, emails or texts — but they can’t do so at an “inconvenient time or place.” If you’re getting messages early in the morning or late at night, that’s illegal — debt collection agencies must contact you between 8 a.m. and 9 p.m. They also must stop contacting you at your workplace if you ask them not to do so.

The FDCPA also details what a collection agency must tell you about your debt. Within five days of the first contact, you must receive a written validation notice that explains how much you owe and the name of the creditor. This notice will also outline how to move forward if you don’t believe the debt is yours.

Debt collectors cannot harass you, misrepresent how much you owe, threaten you, curse at you or make false claims. Basically, if you think a debt collector is bothersome, their practices might be illegal under the FDCPA.

The debt collector also can’t discuss your debt with just anyone — that means they can’t call friends or relatives except to find your address, home number and work contact information. Even then, they are usually only allowed to contact your family members once. Besides that, collectors can only discuss your debt with you, your spouse or your attorney.

If you think that your payday lender violates the Hawaii Payday Loans law, you may file a written complaint with The Hawaii Department of Commerce and Consumer Affairs, United States Post Office Custom House and Court House, 335 Merchant Street, Honolulu, Hawaii 96813, Telephone: (808) 587-3222. The supervisor from that office interviews witnesses, reviews the payday lender’s business records and documentation, and determine whether to pursue civil or criminal charges.

Hawaii Payday Loans latest changes 

Since October 2017, the Hawaiian state government has been discussing a bill that would limit the APR by 36%. Such regulation has been put in place by many other states and has been aimed at reducing consumer debt. High-interest rates and short terms of Payday Loans make it hard for borrowers to pay their loans back on time. This bill, SB 286, has failed to pass in previous years. Keep an eye out for further development.

Hawaii Payday Loans historical background 

The history of Payday Loans in Hawaii
1999 Payday lending was firstly introduced in the state.
2001 Act 20, Hawaii Reversed Statute, Chapter 480F – the amendment that removed sunset date from the Act.
2003 Payday Loan term was limited to 32 days, while the amount was increased to $600.
2006 Payday Loans for the molitary were capped at 36% interest.
2016 New requirements were introduced which required the lenders provide only one consecutive loan to the borrower and offer a repayment plan.
June 22, 2016 A Payday Loan rule was introduced but hasn't come to forse yet.
2017 An attempt to limit Payday Loans was made but unsuccessfully.

Hawaii Payday Loan alternatives

If you're looking for instant cash advance in Hawaii but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for a Hawaii Installment Loan - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Take out a Car Title Loan if you own a vehicle to use as collateral.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Consider borrowing from a bank or credit union, Hawaii State FCU, Pearl Hawaii Federal Credit Union, for example.
  • Qualify for one of Federal or Hawaii government assistance programs: General Assistance, Head Start Program, Hawaii Financial Assistance program, Medical Bill and Health Care Assistance, Food and Nutrition Education, Children with Special Health Needs Program, Hawaii Supplemental Nutrition Assistance Program, Program for All-Inclusive Care for the Elderly  and many others depending on your needs.

Loans for ANY  NEEDS
APR from 4.99%

Loans for ANY  NEEDS
APR from 4.99%

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