In lieu of general excise and net income taxes, on gross premiums as follows:

  • life insurance, 2.75%;
  • casualty and other insurance, 4.265%;
  • real property title insurance, 4.265% of risk premium;
  • ocean marine insurance, 0.8775% of gross underwriting profits;
  • captive insurance companies:
    • 0.25% on $0 to $25 million of gross premiums;
    • 0.15% on more than $25 million to $50 million of gross premiums;
    • 0.05% on more than $50 million of gross premiums; and
    • No tax on more than $250 million of gross premiums.

Distribution: State general fund; tax on captive insurance companies into the captive insurance administrative fund.

SOURCE: Compiled by the Tax Foundation of Hawaii from the Hawaii Revised Statutes, as amended through the 2016 legislative session, and Revised Ordinances for various counties. Consult the statute, ordinance, rules, or regulations for specific cases or circumstances.

Last Revised: August 20, 2016

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