The State of Hawaii Bankruptcy Exemption List
Federal or State Exemptions Allowed
In Hawaii you can choose either the federal bankruptcy exemptions or the Hawaiian Bankruptcy Exemptions. There may be certain federal supplemental exemptions you can use if you choose the state list. All exemptions should be discussed with your Hawaiian Bankruptcy Attorney.
Hawaii has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Hawaii. There may be certain residency requirements to use the Hawaiian Bankruptcy Exemption List.
The following table will outline the Hawaiian Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
|
Exemptions
|
Exemption Amount
|
Statutes
|
| Homestead |
Up to $30,000 if head of family or over 65; up to $20,000 otherwise.
Property cannot exceed one acre. Sale proceeds are exempt for six months after sale.
Tenancies by the entirety are exempt without limit as to debts of one spouse [Security Pacific Bank v. Chang, 818 F: Supp. (D. Haw. 1993)]. |
651-91 |
| Personal Property |
Motor vehicle up to wholesale value of $2,575;
Clothing; appliances and furnishings needed; books; jewelry, watches, and articles of adornment up to $1,000
Proceeds for sold or damaged exempt property (sale proceeds exempt for six months after sale)
Burial plot up to 250 square feet, plus on-site tombstones, monuments, and fencing. |
651-121 |
| Wages |
Prisoner's wages held by Dept. of Public Safety excluding child support, restitution and other claims.
Unpaid wages due for services of the past 31 days. |
353-22.5
651-121 |
| Pensions |
Tax exempt retirement accounts. Traditional IRAs and Roth IRAs up to $1,095,000 per person.
Police officers and firefighters.
Public officers and employees.
Roth IRAs, IRAs, and ERISA-qualified benefits, if deposited more than three years before filing. |
11 U.S.C. § 522
88-169
88-91 & 653-3
651-124 |
| Public Benefits |
Public assistance paid by Dept. of Health Services for work done in home or a workshop.
Crime victims' compensation; special accounts that were created to limit the commercial exploitation of crimes.
Unemployment compensation.
Workers' compensation.
Temporary disability benefits.
Unemployment work relief up to $60 per month. |
346-33
351-66
383-163
386-57
392-29
653-4 |
| Tools of Trade |
Tools, books, uniforms, implements, instruments, furnishings, fishing boat, nets, motor vehicle, and other personal property needed for livelihood. |
651-121 |
| Insurance |
Accident, sickness or health benefits.
Annuity contract or endowment policy proceeds if beneficiary is insured spouse, child or parent.
Group life insurance policy or proceeds.
Life or health insurance policy for child or spouse.
Life insurance proceeds if policy prohibits use to pay creditors.
Fraternal benefit society benefits. |
431:10-231
431:10-232
431:10-233
431:10-234
431:10-D:112
432:2-403 |
| Miscellaneous |
Business partnership property |
425-125 |