Hawaii

The relevant statute is HI Code Ann. §431:13-104 (“HI-INS”).

A. Actions lender may take: HI-INS §431:13-104(e) - The borrower's right to select the insurer through whom any required insurance is obtained does not prevent the lender from placing insurance where the borrower has failed to provide required insurance in accordance with the terms of the loan document.

B. Notices required: No express statutory provision.

C. Coverage required: No express statutory provision.

D. Charges permitted: HI-INS §431:13-104(b)(3) - Lenders may not require that borrowers pay a separate charge in connection with the handling of any required insurance, or to substitute the insurance policy of one insurer for that of another. This limitation on charges does not include the interest that may be charged on premium advancements made in accordance with the terms of the loan document.

E. Finance charge allowed on lender's payment: HI-INS §431:13-104(b)(3) - Permitted as agreed in the loan document.

Click here to view relevant Hawaii Code and Regulations.