Bankruptcy Exemptions in Hawaii
What property you can keep in bankruptcy in Hawaii: homestead, vehicle, wildcard and retirement exemptions, and whether you can choose the federal exemptions.
Short answer: Filers may choose either Hawaii's exemptions or the federal bankruptcy exemptions in 11 U.S.C. 522(d). 11 U.S.C. 522(b)(1)-(3); HRS chapter 651
| State or federal exemptions | Filers may choose either Hawaii's exemptions or the federal bankruptcy exemptions in 11 U.S.C. 522(d). No Hawaii statute denying the federal exemptions was identified. Under 11 U.S.C. 522(b)(2), the federal list applies unless state law "specifically does not so authorize." Spouses filing together must both use the same system. Which state's exemptions apply depends on where the filer was domiciled for the 730 days before filing (522(b)(3)(A)). |
|---|---|
| Homestead exemption | An interest in one parcel of real property in Hawaii worth up to $30,000 (fair market value over prior liens) for a head of a family or a person 65 or older, or up to $20,000 for any other person. Only one exemption per parcel. Does not apply against mortgages, tax liens and certain other liens. No acreage limit is stated. Source: HRS § 651-92(a)-(b) |
| Car exemption | One motor vehicle up to $2,575 over all liens, measured by wholesale used-car guide prices. A vehicle used in the debtor's trade or business may instead be covered by the tools-of-the-trade exemption, which has no dollar cap. Source: HRS § 651-121(2)-(3) |
| Wildcard exemption | None. Hawaii's exemption statutes (HRS ch. 651) list specific property types; no general exemption for property of the filer's choosing was found. Source: HRS §§ 651-92, 651-121 |
| Retirement accounts | Rights to pensions, annuities, retirement and disability allowances and other benefits under plans described in Internal Revenue Code sections 401(a), 401(k), 403(a), 403(b), 408, 408A, 414(d) or 414(e), and ABLE accounts, are exempt, including in bankruptcy. Not exempt: qualified domestic relations orders, and contributions made within three years before filing for bankruptcy (with a limited exception for state-statute retirement plans). Source: HRS § 651-124 |
| Wages | Wages, salaries, commissions and other pay for personal services rendered during the 31 days before the proceeding are exempt. Source: HRS § 651-121(6) |
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FAQ
Can you use the federal bankruptcy exemptions in Hawaii?
Filers may choose either Hawaii's exemptions or the federal bankruptcy exemptions in 11 U.S.C. 522(d).
How much home equity is protected in bankruptcy in Hawaii?
An interest in one parcel of real property in Hawaii worth up to $30,000 (fair market value over prior liens) for a head of a family or a person 65 or older, or up to $20,000 for any other person. Only one exemption per parcel. Does not apply against mortgages, tax liens and certain other liens.
Can I keep my car in bankruptcy in Hawaii?
One motor vehicle up to $2,575 over all liens, measured by wholesale used-car guide prices. A vehicle used in the debtor's trade or business may instead be covered by the tools-of-the-trade exemption, which has no dollar cap.
Does Hawaii have a wildcard exemption?
None. Hawaii's exemption statutes (HRS ch. 651) list specific property types; no general exemption for property of the filer's choosing was found.
Are retirement accounts protected in bankruptcy in Hawaii?
Rights to pensions, annuities, retirement and disability allowances and other benefits under plans described in Internal Revenue Code sections 401(a), 401(k), 403(a), 403(b), 408, 408A, 414(d) or 414(e), and ABLE accounts, are exempt, including in bankruptcy. Not exempt: qualified domestic relations orders, and contributions made within three years before filing for bankruptcy (with a limited exception for state-statute retirement plans).
Are wages protected in bankruptcy in Hawaii?
Wages, salaries, commissions and other pay for personal services rendered during the 31 days before the proceeding are exempt.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.