Hawaii
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Surety bonds in the state of Hawaii are often required by hiring companies as a guarantee of contractor performance, and of compliance with any rules or regulations that might pertain to the work being performed.
Surety bonds work in the way that insurance functions. The insurance, in this case, is provided by the surety company, which is obliged to pay out a sum of money equal to or less than the face value of the bond itself, depending on the amount of any claim advanced by the obligee. The obligee seeks to protect itself against malpractice or fraud on the part of the principal by requiring the principal to purchase the bond.
If the principal then defaults on the terms of the bond, failing to live up to agreed-upon stipulations, the obligee would claim the bond that the surety would initially pay. But the principal does not get away so easily — when any claim is made against the bond, the contractor would legally be required to reimburse the surety company for the full amount that the organization had to pay out to the obligee.
Common Hawaii Surety Bonds
Surety bonds in the state of Hawaii are often required by hiring companies as a guarantee of contractor performance, and of compliance with any rules or regulations that might pertain to the work being performed.
Surety bonds work in the way that insurance functions. The insurance, in this case, is provided by the surety company, which is obliged to pay out a sum of money equal to or less than the face value of the bond itself, depending on the amount of any claim advanced by the obligee. The obligee seeks to protect itself against malpractice or fraud on the part of the principal by requiring the principal to purchase the bond.
If the principal then defaults on the terms of the bond, failing to live up to agreed-upon stipulations, the obligee would claim the bond that the surety would initially pay. But the principal does not get away so easily — when any claim is made against the bond, the contractor would legally be required to reimburse the surety company for the full amount that the organization had to pay out to the obligee.
Common Hawaii Surety Bonds
Contractors Bond
License and Permit Bond
Auto Dealer Bond
Bid Bond
Performance Bond
Public Adjuster Bond
How do I purchase a Hawaii surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Hawaii. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Hawaii Surety Bond FAQs
Absolutely. Many professions, like contractors, notaries, public adjusters, escrow agents, mortgage professionals, collection agencies, and more, must carry a surety bond to operate legally in Hawaii.
For example, contractors often need a minimum $5,000 bond — with the possibility of higher coverage depending on their work — while notaries are required to post a $1,000 bond for their entire four-year commission.
Bond premiums are typically 1 to 10% of the bond amount. For low-risk bonds like contractors bonds or notary bonds, expect around 1 to 3% if your credit is strong.
Yes. Even applicants with less-than-stellar credit can often get licensed bonds, although the premium may be higher. For bigger or higher-risk bonds, like large contractor bonds or money transmitter bonds, expect stricter underwriting and possibly stricter credit requirements.
The duration of each surety bond varies:
- Contractors bonds are continuous, remaining active unless canceled with proper notice.
- Notary bonds run for the full four-year commission period.
- Public adjuster bonds (like the $10,000 bond required in Hawaii) are typically annual.
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