HRS §485A-301
When a security must be registered before being sold
Read the official text at capitol.hawaii.gov ↗This section says that you cannot offer or sell a security in Hawaii unless it is a federal covered security, is exempt from registration under certain state laws, or is registered with the state. It is a general rule with three exceptions.
everyone
The statute, as written — Securities registration requirement
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.
It is unlawful for a person to offer or sell a security in this State unless: (1) The security is a federal covered security; (2) The security, transaction, or offer is exempted from registration under sections 485A-201 to 485A-203; or (3) The security is registered under this chapter.
Sections this one refers to
§485A-201 Which securities are exempt from registration requirements
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.