HRS §490:2-708
What a seller can recover when a buyer backs out
This section explains how to calculate damages when a buyer refuses to take goods or cancels the deal. The seller can recover the difference between the market price and the unpaid contract price, plus incidental costs, minus saved expenses. If that is not enough, the seller can recover lost profit instead.
The statute, as written — Seller's damages for nonacceptance or repudiation
(1) Subject to subsection (2) and to the provisions of this article with respect to proof of market price (section 490:2-723), the measure of damages for nonacceptance or repudiation by the buyer is the difference between the market price at the time and place for tender and the unpaid contract price together with any incidental damages provided in this article (section 490:2-710), but less expenses saved in consequence of the buyer's breach. (2) If the measure of damages provided in subsection (1) is inadequate to put the seller in as good a position as performance would have done then the measure of damages is the profit (including reasonable overhead) which the seller would have made from full performance by the buyer, together with any incidental damages provided in this article (section 490:2-710), due allowance for costs reasonably incurred and due credit for payments or proceeds of resale.
Sections this one refers to
§490:2-710 What a seller can recover after a buyer breaks a contract
§490:2-723 How to prove market price after a contract is broken early
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