Today’s MYGA Rates Available in Hawaii
Multi-year guaranteed annuity (MYGA) rates change frequently and availability varies by state. Rather than show a snapshot that goes stale, we maintain a live comparison of 2,400+ products from 60+ carriers, updated from industry rate feeds.
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Filter by term, carrier rating, and minimum premium — then connect with a licensed Hawaii agent about any rate you see.
See Today’s Rates →How Hawaii taxes annuity income
Hawaii applies graduated income tax rates (1.4%–11%) to most retirement income — but the treatment depends on the annuity type:
- Qualified annuities (employer-funded pensions and certain defined-benefit plans): distributions may be fully excluded from Hawaii income tax as a "pension for past services" if the annuity comes from an entirely employer-funded plan. Hawaii Revised Statutes §235-7(a)(3) excludes compensation received in the form of a pension for past services.
- Non-qualified annuities and IRA/401(k) distributions: these are treated as deferred compensation and are fully taxable at Hawaii rates. Hawaii's pension exclusion does not extend to IRAs, 401(k)s, 403(b)s, or individually purchased non-qualified annuities.
Hawaii does not tax Social Security benefits. This is an important nuance: if your annuity was purchased outside an employer pension plan, or funded with IRA or 401(k) money, expect Hawaii income tax to apply. A Hawaii tax professional can help determine the treatment of your specific contract.
Source: Hawaii Department of Taxation — HRS §235-7 and Hawaii Admin. Rules §18-235-7-03
Hawaii Annuity Regulations
Free Look Period: 10 days
Hawaii provides annuity purchasers a 10-day free look period from delivery of the contract, during which the contract may be returned for a full refund with no surrender charges.
Carriers may offer longer periods than the state minimum — the exact terms are stated on your contract's cover page. Confirm current requirements with the Hawaii Insurance Division.
Best Interest Standard: Adopted — effective January 1, 2023
Effective January 1, 2023, Hawaii holds producers to the NAIC best-interest standard of conduct when recommending an annuity (Haw. Rev. Stat. §431:10D-621). The producer must act in the consumer's best interest — satisfying care, disclosure, conflict-of-interest, and documentation obligations — and may not place their own financial interest ahead of the consumer's. Producers must complete a 4-hour best-interest training course before selling annuities, and insurers must maintain supervision systems.
Source: Haw. Rev. Stat. §431:10D-621 — Hawaii Insurance Division
Replacement Rules
Hawaii requires consumer protections when an existing annuity or life insurance policy is replaced:
- A written replacement notice identifying the contracts being replaced and disclosing surrender charges, benefits, and features being given up.
- Notification to the existing insurer.
- A documented best-interest basis for the recommendation under Haw. Rev. Stat. §431:10D-621.
