HRS §257-5
What happens when the account holder dies
Read the official text at capitol.hawaii.gov ↗This section says what happens to an individual development account when the owner dies. The account can go to a named backup beneficiary, but if that person is dead or can't take it, the money goes to the organization's match fund.
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The statute, as written — Death
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
In the event of an account holder's death, the account may be transferred to the ownership of a contingent beneficiary. An account holder shall name contingent beneficiaries at the time the account is established and may change beneficiaries at any time. If the named beneficiary is deceased or otherwise cannot accept the transfer, the moneys shall be transferred to the individual development account match fund of the fiduciary organization.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.