Fast Online Payday Loan [ HONOLULU ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Honolulu Hawaii USA, which are issued for a period of 1, 2, 3 or 4 weeks (until your next salaries).
- $1500, $2000, $2500, $3000, $3500, $4000, $4500, $5000 – Honolulu, HI installment loans that can be taken out for terms of up to 2 years (most often 1, 6, 9, 12 or 3 months).
To get fast online cash advances (payday or personal loans, short-term loans, fast cash) with instant approval in Honolulu, HI, USA, use our simple 5-minute application form! The money will be credited to your bank account within 24-48 hours (or faster) after approval.
Cash Advance Near Me :: Honolulu Hawaii Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| OneMain Financial | 2320 S King St, Honolulu, HI 96826 | +1 808-949-2911 |
| Easy Money EMG | 2000 S Beretania St, Honolulu, HI 96826 | +1 808-955-1202 |
| Money Mart | 435 Atkinson Dr Ste B, Honolulu, HI 96814 | +1 808-946-2435 |
| Safety Loan Co | 2255 N School St, Honolulu, HI 96819 | +1 808-847-3755 |
| A Happy Pawn | 628 N King St, Honolulu, HI 96817 | +1 808-383-5253 |
| Money Mart | 1419 Dillingham Blvd, Honolulu, HI 96817 | +1 808-848-2435 |
About Small Instant Payday Loans in Honolulu Hawaii
Facing a financial gap before your next paycheck can be stressful, and for many in Honolulu, a payday loan might seem like a swift solution. However, it’s crucial to understand that these loans, often called “deferred deposit transactions,” are governed by specific Hawaii state laws that dictate their terms and costs. While accessible, they are an extremely expensive form of credit.
Before considering this option, familiarize yourself with the following requirements and terms that apply to lenders and borrowers in Honolulu.
Minimum Requirements for a Payday Loan in Honolulu, HI
To qualify for a payday loan from a licensed lender in Honolulu, you must typically meet the following standard criteria. These are mandated by state law to ensure basic eligibility:
- Age and Identity: You must be at least 18 years old. You will need to provide a valid, government-issued photo ID, such as a Hawaii driver’s license or state ID, to verify your age and identity.
- Proof of Income: Demonstrating a steady source of income is the most critical requirement. Lenders need assurance you can repay the loan. This can be proven with recent pay stubs, bank statements showing direct deposits, or documentation for benefits like Social Security or pensions.
- Active Checking Account: You must have an active checking account in your name. The lender will ask for your account and routing numbers to deposit the loan funds and to electronically withdraw the repayment amount on the due date.
- Contact Information: You must provide valid contact details, including a local address, a working phone number, and often an email address.
- Social Security Number: You will be required to provide your Social Security Number for identification and verification purposes.
It’s important to note that most licensed payday lenders in Hawaii do not perform a hard credit check with the major bureaus (Experian, Equifax, TransUnion). Their decision is primarily based on your income and bank account status.
Terms and Costs of Payday Loans in Honolulu, Hawaii
The terms for payday loans in Honolulu are strictly defined by Hawaii Revised Statutes Chapter 480F, the “Deferred Deposit Transaction Law.” These rules set maximum amounts, fees, and loan structures.
- Maximum Loan Amount: The maximum amount you can borrow is $600. This is a strict cap set by state law.
- Finance Charges and Fees: Hawaii law sets clear limits on what lenders can charge.
- For a loan up to $100, the maximum finance charge is $17.65.
- For a loan between $100.01 and $250, the maximum finance charge is $35.30.
- For a loan between $250.01 and $600, the maximum finance charge is $53.95.
- Crucially, lenders are prohibited from charging any other fees, including origination, maintenance, or rollover fees.
- Loan Term: The minimum loan term is 32 days. The maximum term is not explicitly defined but is typically aligned with your pay schedule. The loan must be structured as a single-payment loan; you receive cash upfront and must repay the full amount (principal + fee) in one lump sum on your due date.
- Right to Cancel: You have the right to cancel the loan at no cost by the end of the next business day by returning the full principal amount to the lender.
- Extended Payment Plan (EPP): This is a critical consumer protection unique to Hawaii. If you cannot repay your loan on the due date, you have the right to enter into an interest-free, extended payment plan.
- You must request the EPP before the close of the next business day after your default.
- The lender must grant it and allow you to repay the loan in at least four equal installments over a minimum of four pay periods.
- No additional fees or interest can be charged for this extension.
- Limitations: You may only have one outstanding payday loan at a time in Hawaii. Lenders are required to check a statewide database to enforce this rule and prevent borrowers from becoming over-extended.
A Critical Consideration for Honolulu Residents:
While Hawaii’s laws provide more protections (like the EPP and fee caps) than many other states, the cost of borrowing remains very high. For example, the $53.95 fee on a $600 loan for 32 days translates to an Annual Percentage Rate (APR) of over 170%.
