Hawaii Retirement Savings Program: What Employers Should Know

Hawaii Retirement Savings Program covers Hawaii employers with 1+ employees that do not offer a qualifying retirement plan. Counting rule: Any employer with one or more employees in Hawaii (HRS §389-2); no averaging rule. No years-in-business requirement (the two-year period in the statute is the existing-plan look-back).

Once the program launches: $25 per unenrolled employee per month, rising to $50 per month after assessment. The program has not launched yet.

No employer registration deadlines have been announced yet.

HRS §§389-2, 389-5, 389-14 (Act 296 (2022); Act 113 (2025)). Official program: Hawaii Retirement Savings Program official site. Verified September 17, 2026.

You must take part if your business has at least one employee in Hawaii and you do not offer a qualified retirement plan, such as a 401(k) or SIMPLE IRA. The section above explains exactly how Hawaii counts your employees.

Hawaii Retirement Savings Program has not opened registration, so no employer deadline is in effect yet. Watch for a notice from the program.

Fines are set per unenrolled employee per month and cannot be charged until the program has launched.

Offer your own qualified retirement plan and certify it with Hawaii Retirement Savings Program. What counts in Hawaii: a plan under 401(a)/401(k), 403(a)/403(b), SEP (408(k)), SIMPLE (408(p)) was offered or maintained at any time in the preceding two years.

Hawaii Retirement Savings Program spares you from running a plan, but it allows no employer match and caps each saver at the IRA limit ($7,500 for 2026). A 401(k) allows up to $24,500 per employee for 2026, lets you add a match, and credits can offset much of the startup cost for eligible employers.