With our 5-step method, forming a company in Hawaii is simple. A company may be formed by submitting formation paperwork with your state and forming a board of directors.
We’ll teach you how to form your own company in Hawaii.
In Hawaii, incorporation is simple.
To get started, follow the steps in our How to Start a Corporation in Hawaii tutorial below:
Step 1: Give Your Hawaii Corporation a Name
Step 2: Select a Registered Agent.
Hold an Organizational Meeting in Step 3
Step 4: Submit your Articles of Incorporation.
Step 5: Obtain an EIN
Step 1: Give Your Hawaii Corporation a Name
The first step in forming a company is to choose a business name. You must choose a distinct name that conforms with Hawaii company naming regulations.
1. Hawaii naming conventions:
The words “corporation,” “business,” “incorporated,” “limited,” or an acronym of one of these keywords must appear in your name (corp., co. ltd.).
Your company or trademark name cannot be the same as or significantly similar to any other existing business or brand registered in the state.
Your name cannot include wording saying or suggesting that the company was formed for a purpose other than that authorised by law and the articles of incorporation. It must also be legal and not aim to mislead or confuse the general audience.
Your company’s name cannot include terms that may be confused with a government organisation (FBI, Treasury, State Department, etc.).
The following terminology must be approved by the state commissioner of financial institutions before they may be used:
banking, banc, savings bank, savings and loan, savings association, financial services loan company, credit union, trust company, intrapacific bank, international banking corporation, and trust
Domestic insurance companies are required to have the term “insurance” in their name. A reciprocal insurer’s name must include one of the words: reciprocal, interinsurer, interinsurance, exchange, underwriters, or underwriting.
The following terminology must also be approved or authorised by the state: certified public accountant, public accountant, CPA, PA, cooperative, escrow, and escrow depository.
For further information, see the Hawaii state legislation on corporate name rules.
2. Is my business name accessible in Hawaii?
Your Hawaii company name should be distinct and distinct from existing business names in Hawaii. To see whether your chosen business name is available, use the Hawaii Department of Commerce and Consumer Affairs’ business database.
3. Is the URL accessible?
Before forming your Hawaii company, check to see whether an appropriate URL for your preferred business name is accessible. Even if you don’t intend to create a company website right immediately, we recommend purchasing a web domain right away to avoid other companies from obtaining it.
Step 2: Select a Registered Agent in Hawaii.
When you form your company with the Department of Commerce and Consumer Affairs, you must choose a Hawaii registered agent.
What exactly is a Registered Agent? A registered agent is a person or organisation chosen by an LLC or corporation to accept service of process, government communications, and compliance paperwork on behalf of a company.
Who Is Eligible to Be a Registered Agent? An person, a corporate organisation, or a professional registered agent service may serve as your registered agent. Any organisation or individual may act as your Hawaii registered agent as long as the person:
is at least 18 years old
has a physical address in the state where business is done
is accessible during regular business hours (in person).
Step 3 Hold an Organizational Meeting
Before filing the Articles of Incorporation formally in Step 4, you must conduct an organisational meeting to perform the following tasks:
Complete and sign the Articles of Incorporation.
Establish and approve bylaws
Choose your first director (s)
Determine your ownership structure.
Fill out an Incorporator’s Statement.
Establish and Approve Corporate Bylaws
Bylaws are the rules that regulate and control how your organisation is governed and operated. Consider the bylaws to be your corporation’s constitution. It clarifies the norms and priorities for all parties involved.
The bylaws of a company will augment any regulations established by the federal government or the state.
Include the following in your bylaws:
The governance of the company, including the roles of directors and officials
Meeting processes, voting procedures, and the election of executives or directors
How will records be preserved and managed?
How will disagreements be resolved?
How will bylaws be added/modified in the future?
The annual shareholder meeting date
Contract Negotiation Techniques
Fiduciary responsibilities to the company (i.e. acting in the best interests of the corporation)
What is a quorum for voting purposes?
What exactly is a quorum? A quorum is the minimal number of members who must be present at a meeting in order for the meeting’s actions, including any votes, to be legitimate.
Appoint the First Directors
At least one director must be appointed to monitor your Hawaii company until the first shareholder meeting.
A corporate director is in charge of operational bylaw adoption, modification, and repeal, as well as the election, monitoring, and removal of officers.
Following the incorporation of the company, the incorporator(s) — or initial director(s), if listed on the formation papers — shall convene an organisational meeting. During this inaugural meeting, either the incorporator(s) or the initial director(s) will elect the board of directors.
Selecting a Share Structure and Strategy
A share of stock is a corporation’s unit of ownership. Each share of stock reflects a proportion of the company’s ownership. If a business issues one share of stock, the shareholder (stock owner) owns 100% of the corporation.
Shares may be divided into classes. Each class, known as a share class, has unique rights and advantages. There may be several classes, and each class can have an unlimited number of shares.
The Hawaii Department of Commerce and Consumer Affairs’ Articles of Incorporation form may only be used to incorporate a company with one share class. You must write your own Articles of Incorporation if your company has a multiple share class structure.
NOTE: We suggest that you begin with a large number of authorised shares. Many lawyers advocate for a million dollars. Starting with a large number allows you to issue shares as required without incurring legal expenses to enhance your original permitted share size.
Make and implement an Incorporator’s Statement
The incorporator(s) shall sign and preserve an Incorporator’s Statement with the full names and addresses of all initial directors in the corporate records book.
This document identifies the first director(s) who will serve until the board of directors is chosen at the first shareholder meeting. It should be kept with the rest of your company’s records.
Step 4: Submit the Articles of Incorporation to the State of Hawaii.
To form a company in Hawaii, you must submit the Hawaii Articles of Incorporation. The Articles of Incorporation are the legal documents that establish your Hawaii company. You may submit this form to the Hawaii Department of Commerce and Consumer Affairs online, by mail, email, fax, or in person. The filing charge is $50, plus a $1 preservation fee to the State Archives. Hawaii also offers a full training paper.
This paper will address the fundamentals of your company, such as:
Name of the company and its primary address
Name and street address of the corporate registered agent
The number of authorised shares that a company may issue.
Name(s) and address of incorporator(s) (es)
The Hawaii Department of Commerce and Consumer Affairs’ Articles of Incorporation form may only be used to incorporate a company with one share class. You must write your own Articles of Incorporation if your company has a multiple share class structure.
Step 5 Get an EIN for Your Hawaii Corporation
What exactly is an EIN? The federal government uses an Employer Identification Number (EIN) or Federal Tax Identification Number (FTIN) to identify a company organisation. It is effectively the company’s social security number.
Why do I need an EIN? An EIN is necessary for the following activities:
To establish a commercial bank account for the firm
In terms of federal and state taxation
To recruit workers for the firm
How can I get an EIN? After founding the firm, the business owner obtains an EIN from the IRS (free of charge). This may be done online or in the mail.