Hawaii is developing its state retirement mandate program. Expected launch in late 2026. Honolulu-area employers should begin exploring private plan options now.
Get Your Free Hawaii Compliance Audit →Hawaii Saves is Hawaii's state-mandated retirement savings program. Hawaii is developing its state retirement mandate program. Expected launch in late 2026. Honolulu-area employers should begin exploring private plan options now.
Employers who already offer a qualifying private retirement plan — such as a 401(k), SEP IRA, or SIMPLE IRA — are exempt from Hawaii Saves requirements.
Learn more at the official state portal: https://labor.hawaii.gov
Option 1 — Enroll in Hawaii Saves: Register through the state portal and facilitate payroll deductions. This fulfills the mandate but doesn't maximize tax savings.
Option 2 — Set up a private plan (recommended): A qualifying 401(k), SEP IRA, or SIMPLE IRA exempts you from the mandate AND qualifies you for up to $15,000 in SECURE 2.0 Act tax credits over 3 years.
Key difference: A private plan belongs to your company. CalSavers/state plans do not. Private plans also attract and retain better employees.
The SECURE 2.0 Act (2023) gives small business owners massive tax credits for starting a retirement plan:
✅ Up to $5,000/year for 3 years for plan startup costs
✅ $1,000 per employee/year for employer contributions (up to 50 employees)
For many Hawaii small businesses, this makes a private 401(k) free or nearly free — while exempting you from Hawaii Saves requirements entirely.
Hawaii Saves is Hawaii's forthcoming state-mandated retirement savings program, expected to launch in late 2026.
Enforcement details are still being developed. Honolulu-area employers should plan ahead.
Set up a qualifying retirement plan now. SECURE 2.0 Act credits provide up to $5,000/year for 3 years for new plans.
Find out exactly what Hawaii Saves means for your business — and whether a private plan saves you more money than enrolling in the state program.
Book Your Free 15-Minute Audit →