Hawaii Foreclosure Law

Timeline: around 60 days

Redemption: No

Deficiency Judgments: Yes

Judicial Foreclosure: Yes

Non-Judicial Foreclosure: Yes

Security Instruments: Deed of Trust, Mortgage

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The Judicial Foreclosure process is used in Hawaii when no “power of sale” clause is in the original loan documents. The lender must sue the borrower in court to obtain an order to foreclose.

The Non-Judicial Foreclosure process is used when a “power of sale” clause is present in the original loan documents. This clause authorizes the lender to sell the property in the event of a default of the loan. If the “power of sale” clause specifies the time, date, and terms of the sale, then those procedures will be followed. If no time, date, and terms of sale are specified, the lender must follow a series of procedures proscribed by law.

The borrower and all other lien holders must be sent a copy of the notice of default and intent to foreclose. The notice must also be published in a local newspaper circulated in the county in which the property is located for three (3) consecutive weeks. The final publication of the notice can not be less than fourteen (14) days before the sale.
The notice must be sent to the state director of taxation, as well as the director of finance for the county that the property is located in. The notice may include dates and times for two open houses to be held at the subject property; or the notice must state that no open houses will be held.
Up to three days before the sale, the borrower may cure the default. If the borrower can not cure the default, the sale will be held at the time and place listed in the notice.
The sale may be postponed by the lender or its representative by a public announcement.

There is no right of redemption for the borrower after the sale, and the lender may sue the borrower for a deficiency judgment in the event the sale proceeds are not enough to cover the balance due on the loan plus costs.

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