HRS §490:4-504
What a bank can do with goods after a payment is refused
If a bank presents a payment document and it is refused, the bank can ask for instructions. If no instructions come in a reasonable time, the bank may store or sell the goods. The bank can also hold a lien on the goods to cover its reasonable costs.
The statute, as written — Privilege of presenting bank to deal with goods; security interest for expenses
(a) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner. (b) For its reasonable expenses incurred by action under subsection (a), the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien.
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