Hawaii

Hawaii

  • Hawaii is a Sinkhole State and has the 5th worst per Taxpayer Burden
  • Hawaii has only $5 billion to pay the state's bills totaling $18 billion
  • To fill its $12 billion financial hole, each taxpayer would have to send $27,000 to the state
  • The Hawaii financial statements clearly report $4 billion of retirement liabilities, but in reality the state has nearly $15 billion of unfunded retirement promises
  • The Hawaii Taxpayer Burden is 59% of an average citizen's personal income of $45,652
  • Despite an 180 day goal, Hawaii took 211 days after its fiscal year end to release last year's Comprehensive Annual Financial Report (CAFR)
For a comprehensive look into the state's financial position, read the Hawaii Financial State of the State

Link to HI CAFR:    Hawaii Comprehensive Annual Report

Publishing Entity:  Hawaii Dapartment of Accounting and General Services

Truth in Accounting’s methodology is unique, analyzing all state assets and liabilities, including unreported pension and retirement health liabilities. 

IN THE NEWS
Hawaii Still a Debt “Sinkhole” State

AUGUST 20, 2014 | HAWAII FREE PRESS

"Hawaii citizens deserve a better explanation of the sudden and dramatic decreases in retirement health debt than ‘the actuaries calculated it,’ stated Donna Rook, President of StateDataLab.org."

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