Hawaii Business Facts
Hawaii is a heaven for guests, to such an extent, that most people who visit the place for a vacation choose to stay. The appeal of the sea, the tropical scene, and the considerable year-round climate, make the Hawaiian Islands an incredible place to live. The Hawaiian Islands’ economy is essentially in view of tourism, land, and development. The Aloha State’s agribusiness, innovation, research, education, and healthcare divisions contribute to the general economy. Hawaii is the second largest producer of sugarcane in the United States and the primary producer of pineapple. Its agriculture industry generates $2.9 billion to the annual economy of the state, and produces over 42,000 jobs.
Major Companies Headquartered in Hawaii
Hawaii is the headquarters of many major companies including Queen’s Health Systems Inc., Hawaii Pacific Health, Hawaiian Holdings, HSTA, and State of Hawaii.
There has been a significant growth in the number of Hawaiian startup companies in the past three years. Funding and revenues also expanded. Hawaii’s startups including water, food, and energy are slowly becoming global leaders.
There are three types of business structures: the Corporation, LLC, and DBA. Click here to learn more about business entities.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that the better). In Step 3 we’ll show you how to search for the name in Hawaii, but we highly recommend you do the following before searching Hawaii state databases:
NOTE: Familiarize yourself with the Hawaii naming guidelines. LLC entity names need to contain the words Limited Liability Company or the abbreviation LLC, and certain words are restricted or prohibited.
Restrictions on Hawaii Business Name & Business Purpose
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and picked your business name, here are the requirements to register your business in Hawaii.
How to form an LLC in Hawaii
How to Incorporate in Hawaii
NOTE: When registering a new company the Secretary of State can take several weeks to file the paperwork. You can expedite the process by hand delivering the documents directly to them or one of their field offices and paying an additional fee.
TIP: Check our order form to see how long Hawaii is currently taking to process regular and expedited orders.
How to File a DBA in Hawaii
Considerations when registering a Hawaii business
Ready to register a business in Hawaii?
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
Top 5 Major Banks in Hawaii
TIP: Our business formation service includes a free banking resolution for your use.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.
DBA: Your Fictitious Business Name should be valid for 5 years (unless you change company name or other information listed on the FBN) at which point you’ll need to renew it with the county.
LLC: Hawaii corporations are required to file a Periodic Report with the Hawaii Secretary of State by the end of the filing anniversary quarter each year, in addition to general taxation. Information on your business’ taxes can be found here.
Corporation: Business in Hawaii should file a report with the Secretary of State of Hawaii by the end of the filing anniversary quarter each year. LLCs and Corporations will pay a filing cost of $18.
Business Development and Support Division (for Corporation and LLC filings)
No. 1 Capital District Building
250 South Hotel Street
Honolulu, Hawaii 96813
Phone: (808) 587-2750
Hawaii Taxation Departments
Hawaii Labor and Employment Departments
Hawaii Startup Resources
1. Small Business Administration (SBA) Hawaii District Offices
2. SCORE Hawaii
3. Hawaii Legal Statutes
5. Chamber of Commerce Hawaii
6. Angel.co Hawaii Startups
7. Hawaii Business News
9. Hawai‘i Small Business Development Center
10. Hawaii Green Business Program
Wow loved it thankyou! I dreaded making this for a month thinking it would be a hassle. It wasn't thanks to you guys!
Excellent in all aspects. Perfect for new business owners with limited resources but wants to start it off right.