Establishes interest rate limits for first-time vehicle purchasers in Hawaii.

This bill amends Hawaii Revised Statutes to protect first-time vehicle purchasers from usury. It sets a maximum interest rate of two percent per year for these consumers, with an exception for those with a credit score of six hundred or more, who can receive a zero percent interest rate loan. Consumers who are charged higher rates than allowed are entitled to usury redress. The changes take effect on January 1, 2026.

Establishes interest rate limits for first-time vehicle purchasers in Hawaii.

This bill amends Hawaii Revised Statutes to protect first-time vehicle purchasers from usury. It sets a maximum interest rate of two percent per year for these consumers, with an exception for those with a credit score of six hundred or more, who can receive a zero percent interest rate loan. Consumers who are charged higher rates than allowed are entitled to usury redress. The changes take effect on January 1, 2026.