Hawaii

TIA Data

2017 Financial State of Hawaii (Released 9/25/2018)

 
Hawaii owes more than it owns.
Hawaii has a -$31,600 Taxpayer Burden.™
Hawaii is a Sinkhole State 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 available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Hawaii only has $6.9 billion of assets available to pay bills totaling $22.5 billion.
Because Hawaii doesn't have enough money to pay its bills, it has a $15.6 billion financial hole. To fill it, each Hawaii taxpayer would have to send $31,600 to the state.
Hawaii's reported net position is inflated by $3.1 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $4.2 billion of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
The state's financial report was released 181 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Honolulu

2016 Financial State of Hawaii

2015 Financial State of Hawaii

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

IN THE NEWS
Pension problems

SEPTEMBER 28, 2018 | THE GARDEN ISLAND (HAWAII)

The state of Hawaii’s pension plan is underfunded, and if the problem isn’t resolved the crisis could get worse.

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