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Tuesday, September 19, 2017
Hawaii 6th Most Indebted State
By News Release @ 9:49 PM :: 7077 Views :: Hawaii State Government, Hawaii Statistics, Labor, Taxes


From Truth in Accounting


  • Hawaii has $6.3 billion available in assets to pay $19.5 billion worth of bills.
  • The outcome: A $13.1 billion shortfall and a $27,100 taxpayer burden.
  • Despite reporting most of its pension debt, the state continues to hide much of its retiree health care debt.
  • The state's total hidden debt amounts to $4.8 billion.


  • $26,039,844,000  Assets
  • -$15,707,113,000  Minus: Capital assets
  • -$3,982,773,000  Restricted assets
  • $6,349,958,000 Assets available to pay bills
  • -$19,483,225,000 Minus: Bills
  • -$13,133,267,000 Money needed to pay bills
  • -$27,100 Each taxpayer's share of this debt


  • $9,875,637,000 -- Bonds
  • $2,487,658,000 -- Other liabilities
  • -$8,754,014,000 -- Minus: Debt related to capital assets
  • $6,808,018,000 -- Unfunded pension benefits
  • $9,065,926,000 -- Unfunded retiree health care Bills
  • $19,483,225,000 – Bills


Bottom line: Hawaii would need more than $20,000 from each of its taxpayers to pay all of its bills, so it has received an "F" for its finances from Truth in Accounting.

  *   *   *   *   *

Financial State of the States

From Truth in Accounting, September 19, 2017

You can view a PDF of the report HERE

On September 19, Truth in Accounting released its annual Financial State of the States, a nationwide analysis of the most recent state government financial information. This is our eighth comprehensive analysis of the 50 state governments’ finances and includes background on new accounting standards coming into play, trends across the states, and key findings. This year, the study found that 41 states do not have enough money to pay all of their bills and in total the states have racked up over 1.5 trillion dollars in unfunded state debt. The study ranks the states according to their unique metric called the taxpayer burden or surplus.  Check out the data for your state at the State Data Lab.

Report Findings                                                                        


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