HRS §412:9-303
What happens if a loan charges too much interest
If a financial services loan company charges more interest than the law allows, the loan is still valid. But the company can only collect the actual amount the borrower received plus proper charges. The borrower can recover costs, and any interest already paid is subtracted from what the company can get.
borrowersfinancial institutions
The statute, as written — Effect of excessive interest
If a greater rate of interest than that permitted under this article is contracted for in any loan under this article, the loan shall not, by reason thereof, be void. But, if in any action on the loan, proof is made that a greater rate of interest than that permitted by law has been directly or indirectly contracted for, the financial services loan company shall only recover the amount actually received by the borrower in cash, credit or the equivalent thereof plus the charges, if any, which were properly charged to the borrower and which have not been deducted from the principal amount of the contract or otherwise paid by the borrower. The borrower shall only recover costs. If interest has been paid, judgment shall be for the recoverable amount less the amount of interest paid. Sections 478-5 and 478-6 shall not apply to loans made under this article by financial services loan companies.
Sections this one refers to
§478-5 What happens if a lender charges too much interest
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