GOLD$4,261.37▲ 0.32%SILVER$62.10▲ 0.09%PLATINUM$1,751.80▲ 0.93%PALLADIUM$1,371.23▲ 0.17%

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HI No exemptions Last reviewed: April 2026

Rules of Gold in Hawaii

Coin & bullion dealers 4

The six facts

Statute-level rules. Each fact is sourced; click through to the primary citation.

Exempt

Sales tax on bullion

Precious metal bullion is exempt from Hawaii's General Excise Tax (GET). Hawaii does not impose a traditional sales tax but instead taxes businesses via the 4% GET, with local surcharges of 1-2% in some counties. House Bill 1184 (signed 2021, effective July 1, 2021) and House Bill 2185 (signed June 20, 2024, effective July 1, 2024) exempt bullion sales from GET. "Precious metal bullion" is defined as coins, bars, or rounds minted primarily of refined gold, silver, or other precious metals. No minimum purchase threshold applies.

Source As of 2024-07-01 · medium confidence

No

Recognized as legal tender

Hawaii has not enacted a statute recognizing gold or silver coins or bullion as legal tender for payment of debts. However, Senate Bill 3120 (2025) passed the Hawaii Senate Commerce and Consumer Protection Committee and aims to recognize gold and silver as legal tender for state debts; awaiting full Senate vote as of February 2025.

Source As of 2026-04-25 · medium confidence

Taxed

Capital gains on bullion

Hawaii imposes a state capital gains tax on the sale of precious metals at a flat rate of 7.25%, distinct from the ordinary income tax rate of 11%. No explicit exemption for precious metals capital gains exists in Hawaii tax law. The capital gains rate applies to net capital gains from all sources, including precious metals investments.

Source As of 2026-04-25 · medium confidence

No

State bullion depository

Hawaii has not authorized a state bullion depository. No legislation enabling depository creation, operation, or study has been enacted or is currently pending. Unlike Texas (operational) and Tennessee (operational), Hawaii has taken no legislative steps toward establishing a state-administered precious metals repository.

Source As of 2026-04-25 · medium confidence

No

State gold & silver reserves

Hawaii does not hold physical gold or silver bullion in state treasury reserves. No public disclosure of precious metals holdings appears in state financial reports, comprehensive annual financial reports (CAFRs), or treasury announcements.

Source As of 2026-04-25 · medium confidence

No

Pension fund holdings

The Employees' Retirement System of the State of Hawaii (ERS) does not hold physical gold or silver bullion as a portfolio asset. Published ERS comprehensive annual financial reports show standard allocation to equities, bonds, and alternatives, with no line item for precious metals bullion. The ERS manages multiple state retirement plans but does not maintain specie reserves.

Source As of 2026-04-25 · medium confidence

What this means for buyers

When you buy bullion in Hawaii: investment-grade bullion is exempt from state sales tax. The exemption typically covers gold, silver, platinum, and palladium meeting standard investment-grade purity. Verify the exemption applies to your specific purchase — definitions and minimum-purity thresholds vary by statute.

When you sell or otherwise realize a gain: capital gains on bullion are taxed at Hawaii’s state capital-gains rate, on top of the federal 28% collectibles rate. Less punitive than ordinary-income treatment but still a meaningful state-level layer.

Mostly standard taxation; one carve-out worth knowing about. Confirm it covers your specific purchase before relying on it.

Coin & bullion dealers in Hawaii

Verified retail dealers — sourced from state corporation registries, BBB, and trade associations.

ABC GT Coins

Honolulu

PCGS Authorized, NGC Authorized, ANA member

View dealer

Big Island Coin & Stamp

Operating since 1964
ANA Lifetime Member

View dealer

Captain Cook Coin Company of Honolulu

ANA member, PCGS Authorized, NGC Authorized, ANACS Authorized (4-grading-service authorization…

View dealer

Hawaiian Islands Stamp & Coin

Operating since 1973

View dealer

About this page. Each fact on this page links to its primary source. State laws change, so confirm material facts with your CPA or the state Department of Revenue before acting on a transaction. Fair Market Value does not provide legal or tax advice.

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