HI Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Hawaii (HI). With its tourism-driven economy with unique tax considerations, we understand the unique financial landscape that comes with doing business in Hawaii.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Hawaii clients without the need for an additional state license. This means Hawaii individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Hawaii (HI)
HI Individual Tax Preparation
Comprehensive federal and Hawaii state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →HI Business Tax Services
Tax preparation and planning for Hawaii-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →HI Cryptocurrency Tax
Specialized crypto tax services for Hawaii investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →HI Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Hawaii.
Learn More →HI IRS Resolution
Professional representation before the IRS for Hawaii taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →HI 83(b) Elections
Equity compensation planning and 83(b) election filing for Hawaii startup employees and founders receiving restricted stock.
Learn More →HI Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →HI Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →HI Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →HI Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →HI Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →HI Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →HI Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →HI Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →HI Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →HI Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →HI Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Hawaii Audit Services in Detail
Hawaii businesses, nonprofits, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Hawaii Nonprofit Audits
Under Hawaii's Charitable Solicitations Act, charities registered with the Hawaii Attorney General are generally required to submit audited financial statements when annual gross revenue exceeds $500,000, and reviewed financial statements when revenue is between $250,000 and $500,000. Audited statements are also routinely expected by the Hawaii Community Foundation, the Harold K.L. Castle Foundation, the Atherton Family Foundation, the Stupski Foundation, the Aloha United Way, and major Hawaii funders.
Hawaii 401(k) & Employee Benefit Plan Audits
Hawaii plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Hawaii, including plans sponsored by major Hawaii employers (Hawaiian Airlines, First Hawaiian Bank, Bank of Hawaii, Alexander & Baldwin, Hawaiian Electric, Outrigger Hotels, Hyatt and Marriott Waikiki properties, Queen's Health Systems, Kaiser Permanente Hawaii), Hawaii's substantial federal workforce (Pearl Harbor Naval Shipyard, Hickam AFB, Schofield Barracks, MCBH Kaneohe Bay), and Hawaii's tourism and hospitality industry.
Hawaii Single Audits (Uniform Guidance)
Hawaii nonprofits, the State of Hawaii (which is unusual in being both state and county-level for most counties), school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year are subject to the Single Audit requirements of 2 CFR Part 200.
Hawaii Lender, Bonding & Investor Audits
Hawaii banks (Bank of Hawaii, First Hawaiian, Central Pacific), surety companies, and Hawaii-based real estate and hospitality investors frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises.
Hawaii Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Hawaii lenders and stakeholders requiring CPA-prepared financial statements.
Hawaii (HI) Tax & Business Landscape
Key Hawaii Tax Numbers. Personal income tax: graduated, top rate 11% on income above approximately $200,000 single / $400,000 joint — among the highest top rates in the U.S. Corporate income tax: graduated, top rate 6.4%. General Excise Tax (GET): 4% state plus county surcharges (Honolulu adds 0.5%) — combined approximately 4.5%; applies to virtually all business activity including services, rentals, and wholesale (NOT a typical sales tax). Transient Accommodations Tax (TAT): 10.25% state plus approximately 3% county; combined approximately 13.25%–14.5% on hotels, vacation rentals, Airbnb, VRBO. Estate tax: applies above approximately $5.49 million with rates up to 20% — tied with Washington for the highest top estate tax rate in the United States. Pass-through entity (PTE) elective tax: rate matches personal IT, available since tax year 2022. Returns due April 20 (Hawaii uses a non-standard deadline, not April 15).
Filing Mechanics. Individuals file Form N-11 (residents) or Form N-15 (nonresidents and part-year residents). C-corporations file Form N-30. Partnerships file Form N-20; S-corps file Form N-35. PTE election is made on partnership/S-corp returns. GET is filed on Form G-45 (periodic) and Form G-49 (annual reconciliation). TAT is filed on Form TA-1 (periodic) and Form TA-2 (annual). Returns are administered by the Hawaii Department of Taxation.
Hawaii GET vs. Sales Tax — A Critical Difference. Hawaii does not technically have a sales tax — it has the General Excise Tax (GET), which is fundamentally different. GET is a tax on the seller's business gross receipts, applying to virtually all business activity (retail, wholesale, services, rentals, even some normally non-taxable activity), at varying rates by classification. The combined GET (state + county) is approximately 4.5% in Honolulu. While GET is typically passed through to customers, it is technically the seller's tax obligation — meaning out-of-state sellers with Hawaii nexus must register and remit GET regardless of whether they collect from customers. We handle Hawaii GET registration, compliance, and the unique business activity classifications routinely.
Hawaii TAT & the Vacation Rental Boom. Hawaii's Transient Accommodations Tax is among the most aggressive in the country, applying to vacation rentals (Airbnb, VRBO, etc.), hotels, and other short-term lodging at a combined state+county rate of approximately 13.25%–14.5%. The TAT plus GET means short-term rental operators in Hawaii face an effective combined tax of approximately 18% on gross rental receipts. We handle TAT registration, GET interaction, and the unique vacation rental compliance issues for Hawaii property owners — particularly for mainland-based snowbirds renting out their Hawaii properties.
Hawaii Economy & Who We Serve. Hawaii's economy is dominated by tourism (Waikiki, Maui, the Big Island, Kauai — among the world's top vacation destinations), military and federal government (Pearl Harbor Naval Shipyard, Hickam AFB, Schofield Barracks, MCBH Kaneohe Bay, Coast Guard 14th District — the U.S. Indo-Pacific Command headquarters; military and federal civilian employment is one of HI's largest sectors), real estate (one of the most expensive markets in the U.S.; significant out-of-state ownership), agriculture (coffee, macadamia nuts, pineapple, sugar historically), and a growing renewable energy sector. Our typical HI clients include vacation rental owners (resident and mainland-based), military and federal civilian employees navigating SCRA/MSRRA, hospitality and tourism executives, real estate investors, and high-net-worth families navigating Hawaii's combined high income tax + estate tax structure.
CPA Mobility in Hawaii. Hawaii has adopted CPA mobility provisions under the Uniform Accountancy Act, though Hawaii is one of the states with more nuanced firm-permit requirements. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Hawaii Board of Public Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all the Hawaiian Islands, including Oahu (Honolulu — state capital, largest city; Pearl City; Kailua; Waipahu; Kaneohe; Mililani Town; Pearl Harbor; Schofield Barracks), Maui (Kahului; Lahaina; Kihei; Wailea), the Big Island (Hilo; Kailua-Kona), Kauai (Lihue; Kapaa; Princeville), Molokai, Lanai, and every Hawaii community.
Why Hawaii Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, hospitality operators, and privately held businesses
- Deep expertise in HI-specific issues: Hawaii General Excise Tax (GET) registration and compliance, Hawaii Transient Accommodations Tax (TAT) for vacation rentals (Airbnb/VRBO), HI estate tax planning around the 20% top rate, HI PTE elections, SCRA/MSRRA for military and federal civilian families, and the April 20 Hawaii filing deadline
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for HI tech/startup employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Hawaii CPA — Frequently Asked Questions
Do I need a Hawaii-licensed CPA?
Hawaii has adopted CPA mobility provisions under the Uniform Accountancy Act, though Hawaii is one of the states with more nuanced firm-permit requirements that we verify before commencing attest engagements. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable firm-level Hawaii Board of Public Accountancy registration before commencing attest engagements.
What is Hawaii's income tax rate?
Hawaii has a graduated personal income tax with a top rate of 11% on income above approximately $200,000 single / $400,000 joint — among the highest top rates in the U.S. The HI corporate income tax has graduated rates topping out at 6.4%. Form N-11 (residents) or N-15 (nonresidents/PY) is due April 20 (Hawaii uses a non-standard April 20 deadline rather than April 15).
What is Hawaii's General Excise Tax (GET), and how is it different from sales tax?
Hawaii's General Excise Tax (GET) is technically a tax on the seller's business activity rather than a sales tax on the buyer — though it is typically passed through to consumers like a sales tax. The state GET rate is 4%, plus county surcharges (Honolulu County adds 0.5%, Hawaii Island 0.5%, etc.), bringing combined rates to approximately 4.5%. CRITICALLY, GET applies to virtually all business activity including services, rentals, and even wholesale transactions (with rate variations) — unlike most state sales taxes which are limited to retail sales of tangible goods. We handle GET registration and compliance routinely.
What is Hawaii's Transient Accommodations Tax (TAT)?
Hawaii's Transient Accommodations Tax (TAT) — the "hotel tax" — applies at 10.25% on gross rental proceeds for furnished accommodations rented for fewer than 180 days, in addition to the GET. Counties impose additional county TAT (typically 3%, bringing the combined accommodation tax to approximately 13.25%-14.5%). TAT applies to hotels, motels, vacation rentals (Airbnb, VRBO), and similar short-term rental properties. This is a major issue for Hawaii vacation rental operators and snowbirds renting out their properties.
Does Hawaii really have one of the highest state estate tax rates in the country?
Yes. Hawaii imposes its own estate tax with an exemption of approximately $5.49 million and a graduated rate that tops out at 20% — tied with Washington State for the highest top estate tax rate in the United States. With Hawaii's exemption far below the federal $13.99M+ exemption (and not always indexed), state estate planning is critical for high-net-worth Hawaii residents.
I'm a military member or federal employee stationed in Hawaii. What special tax issues apply?
Military members stationed in Hawaii under the Servicemembers Civil Relief Act (SCRA) maintain their state of legal residence (domicile) for state tax purposes — so a member from Texas stationed in Pearl Harbor pays Texas tax (i.e., none) rather than Hawaii tax on military pay. Spouses can elect SCRA protection under MSRRA. We routinely handle SCRA, MSRRA, and federal employee multi-state issues for the substantial military and federal workforce in Hawaii (Pearl Harbor Naval Shipyard, Schofield Barracks, Hickam AFB, MCBH Kaneohe Bay, Coast Guard 14th District, etc.).
Do you serve Hawaii clients across all islands?
Yes. Our practice is virtual-first, so we serve clients across all the Hawaiian Islands — including Oahu (Honolulu, Pearl City, Kailua, Waipahu, Kaneohe, Mililani Town), Maui (Kahului, Lahaina, Kihei), the Big Island (Hilo, Kona), Kauai (Lihue, Kapaa), Molokai, Lanai, and every Hawaii community.