Who requires it
Division of Financial Institutions — Money transmission
License & permit · Hawaii
Hawaii Money Transmitter Bond
Hawaii money-transmitter licensees under the Money Transmitters Act must accompany the application with a surety bond, irrevocable letter of credit, or other security the commissioner accepts. HRS §489D-7 fixes ten thousand dollars for the initial twelve months of licensure, then steps to five thousand or ten thousand dollars based on annualized money-transmission volume, while allowing the commissioner to raise the amount to as much as five hundred thousand dollars when financial condition warrants.
Common bond amount
$5,000 / $10,000 (up to $500,000)
Initial year $10,000; thereafter $5,000 (<$10M annualized) or $10,000 (≥$10M); commissioner may raise to $500,000 (HRS §489D-7).
How you file
Surety bond, irrevocable letter of credit, or other commissioner-approved security
Renewal
Annual volume recalculation after year one; maintain while licensed; claims can be filed for up to five years after you exit
Who requires it
Applicants for and holders of Hawaii money-transmitter licenses under chapter 489D who must maintain the statutory bond or an approved substitute with the Division of Financial Institutions.
How much is required
Subsection (a) requires $10,000 for the first twelve months. After that first year, subsection (g) requires $5,000 when annualized money transmissions calculated under §489D-12(a) are less than $10,000,000, and $10,000 when those transmissions are $10,000,000 or more. The commissioner may increase the amount to a maximum of $500,000 based on impaired financial condition. Licensees recalculate the volume-based amount annually.
How to get and file it
Size the security from §489D-7 for your license stage and latest annualized Hawaii transmission calculation. Have an authorized surety issue a bond (or arrange an irrevocable letter of credit or commissioner-approved deposit) satisfactory to DFI, running to the State for people harmed by transmission failures, then file it with the money-transmitter license application or renewal package as DFI directs. Keep the security in force while licensed. Cancellation generally requires thirty days’ written notice to the commissioner and does not erase liability already accrued. After you stop Hawaii money-transmission operations, the statute contemplates keeping the security in place for up to five years unless the commissioner allows an earlier reduction or substitution.
Cost note
Five thousand to ten thousand dollars (or a commissioner-increased amount up to $500,000) is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Initial twelve months
- $10,000
- After year one — under $10M annualized transmissions
- $5,000
- After year one — $10M or more annualized transmissions
- $10,000
- Commissioner increase
- Up to $500,000 for impaired financial condition
Official sources
Related resources
Frequently asked questions
Can a Hawaii money transmitter use a letter of credit instead of a bond?
Yes. Section 489D-7 allows a surety bond, irrevocable letter of credit, or other similar security acceptable to the commissioner, and also allows approved cash or securities deposits to meet all or part of the required amount.
When does the Hawaii money-transmitter amount drop from $10,000 to $5,000?
After the initial twelve months, a licensee whose annualized money transmissions under §489D-12(a) are less than $10,000,000 maintains $5,000. Licensees at or above $10,000,000 keep $10,000 unless the commissioner orders a higher amount.
Related Hawaii bond guides
Collection Agency Bond
$25,000 / $15,000
Hawaii collection agencies registering with the Department of Commerce and Consumer Affairs must file and maintain a surety bond under Chapter 443B. The first office in the State carries a twenty-five-thousand-dollar amount; each additional Hawaii office carries a fifteen-thousand-dollar amount. Official Bond Form CA-02 is what PVL’s registration checklist requires for every office.
Motor Vehicle Dealer Bond
$10,000–$200,000
Hawaii motor vehicle dealer and auction applicants ordinarily satisfy financial-security rules with an inventory, flooring, or secured line of credit from a qualifying lender. When that credit cannot reasonably be obtained, the Motor Vehicle Industry Board may accept a surety bond on the Board’s published motorcycle, used-vehicle, new-vehicle, or auction amounts. The official MOVE-13 bond form is what dealers file on that alternative path, under Chapter 437, HRS and HAR §16-86-12.
Public Adjuster Bond
$10,000
Hawaii public adjuster applicants must file a ten-thousand-dollar surety bond with the insurance commissioner before the license issues and keep it in force while licensed. HRS §431:9-223 conditions the bond on accounting to insureds for moneys or settlements the adjuster handles. A like deposit of cash or commissioner-approved securities may substitute for the surety bond.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Hawaii application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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