Closing Practices
Hawaii

1.  How are title insurance rates determined in your state? (i.e. filed rate, promulgated rate, etc.)
RATES ARE POSTED FOR AMOUNTS OF INSURANCE UP TO $3 MILLION.  OVER $3 MILLION RATES ARE NEGOTIATED
2.  What forms of encumbrance are typically used?  (i.e. mortgages, deeds of trust, etc.)
MORTGAGE
3.  Where does the transaction closing typically take place? (i.e. title/escrow company, attorney's office, etc.)
TITLE/ESCROW COMPANY
4.  When a title order is placed, does the product take the form of a title report or a commitment?  For how long is the product considered to be in effect?
PRELIMINARY REPORT, 6 MONTHS.	
5.  When is the title report/commitment invoice issued?  (i.e. with commitment, at closing, etc.)
NO CHARGE FOR PRELIMINARY REPORT. INVOICE FOR POLICY IS ISSUED AT CLOSING.
6.  Is there a real estate transfer tax?
YES.  CONVEYANCE TAX RATES ARE ASSESSED ON A SLIDING SCALE.

7.  Is there a state capital gains tax withholding requirement on sale proceeds?
YES, WITH RESPECT TO NONRESIDENT SELLERS BUT THERE ARE CERTAIN EXEMPTIONS. THE PRIMARY ONE BEING AN EXEMPTION WHERE THE PROPERTY IS THE SELLER'S PRIMARY RESIDENCE FOR THE YEAR PRECEDING THE DATE OF THE TRANSFER AND THE AMOUNT REALIZED DOES NOT EXCEED $300,000.00.  HRS 235-68
8.  Is there a mortgage tax?
NO.
9.  How are fees typically split?
-	Owner's Policy Premium
NORMALLY, IN A RESIDENTIAL TRANSACTION, SELLER PAYS 60%, BUYER PAYS 40%.  PURCHASER PAYS FOR THE EXTENDED COVERAGE IF REQUESTED.
-	Loan Policy Premium
	BORROWER.
-	Title Search and Exam
NO SEPARATE CHARGE - INCLUDED IN POLICY PREMIUM.
-	Survey charges
PARTY REQUESTING SURVEY.  SURVEYS ARE RARE WITH RESIDENTIAL TRANSACTIONS.
-	Real Estate Transfer Tax
	SELLER/TRANSFEROR.
-	Closing Fees
CUSTOMARILY SPLIT EQUALLY BETWEEN BUY AND SELLER.
-	Mortgage Fees
BUYER/BORROWER PAYS
10.  What are the recording fees for documents affecting interests in real property?
	REGULAR SYSTEM: $41 PER DOCUMENTFOR DOCUMENTS UP TO AND INCLUDING 50 PAGES.  $106 PER DOCUMENT FOR DOCUMENTS CONTAINING 51 PAGES OR MORE
	LAND COURT SYSTEM: $36 PER DOCUMENT FOR DOCUMENTS UP TO AND INCLUDING 50 PAGES.  $101 PER DOCUMENT FOR DOCUMENTS CONTAINING 51 PAGES OR MORE
	ISSUANCE OF A CERTIFICATE OF TRANSFER OF TITLE (LAND COURT—A TORRENS LAND SYSTEM) IS $50.
	(NOTE: BILL WILL BE INTRODUCED IN 2020 LEGISLATIVE SESSION TO MAKE LAND COURT AND REGULAR SYSTEM RECORDING FEES IDENTICAL.)
11.  Does your state recognize:
a community property system?
NO.
homestead (thus requiring joinder by the spouse)?
NO.

(Updated 1/10/2020)