2015 Data (Released 04/26/2016)

Financial State of Hawaii

Hawaii owes more than it owns
At -$28,500, Hawaii's “Taxpayer's Burden” ranks 45th out of the 50 states
Hawaii is among 40 “Sinkhole States” without enough assets to cover its debt
Elected officials have created a Taxpayer Burden, which is each taxpayer's share of state bills after its assets available have been tapped
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt
Hawaii has only $5.7 billion of assets available to pay bills totaling $19.3 billion
To fill the $13.6 billion financial hole each Hawaii taxpayer would have to send $28,500 to the state
Because of a new accounting rule, Hawaii now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $0 in 2014 to $5.8 billion in 2015. However, the state is still hiding $1.2 billion of pension debt from taxpayers.
The state's financial report was released 183 days after its fiscal year end, which is considered untimely according to the 180 day goal

Prior Years' TIA Data

2014 Financial State of Hawaii

2013 Financial State of Hawaii

Other Resources

Hawaii Comprehensive Annual Financial Reports

Publishing Entity: Department of Accounting and General Services

Hawai‘i as a Sinkhole State; Maui’s Sugar Ditch Kids; Neal Conan; Common Ground Dance Festival


Hawaii and Alaska are often viewed as having a lot in common, they’re far from the mainland and now they are also far from each other financially. A report out today shows Alaska with a $52,000 surplus for each of its taxpayers while Hawaii taxpayers shoulder a burden of $28,000. That’s one of the comparisons drawn from the State Data Lab, a project of Truth in Accounting. Its founder and CEO is CPA Sheila Weinberg and when we talked early today, I asked why they call Hawaii a sinkhole state