Hawaii Unclaimed Property

Hawaii Unclaimed Property Overview – Is it Difficult to Acquire the Money You’re Owed in HI?

The Dept. of Budget and Finance in Hawaii is trying to reach out to owners of unclaimed property. To date, the state has approximately $100 million of unclaimed funds and assets. It has been paying an average of 5,000 claims / $2.5 million a year. This money belongs to both individuals and businesses. HI has been putting out notices in various publications around the state. The reason why the amount is so high is because most people haven’t accepted the reality of unclaimed property.

The notice is published in newspapers and magazines every year. Owners are allowed to file a claim at anytime. The money is always available, whether by the holders or state. The notice is listed by March 1, and owners have until April 20 of each year to claim their property through the holders directly. The property must be worth $100 or more. Anything that is not claimed by this date will be turned over to the state.

The state’s Unclaimed Property Program is administered under the Hawaii Revised Statutes. This program was created to collect and hold abandoned and dormant assets from holders. It takes custody of unclaimed property and returns it to the rightful owner at no charge. In addition to money, the state of Hawaii also holds onto tangible property such as jewelry, watches, stamps, coins, and historical items.

If you think you might have some unclaimed money in Hawaii, you can search for it online. You can also write or call the Unclaimed Property Program. When searching online, try different variations of your name, or your relative’s name if you’re searching for someone else. Even former Hawaii residents still have unclaimed money in the state’s custody.

There have been a lot of complaints of individuals who have had problems obtaining the money owed to them. Hawaii’s unclaimed property amount goes up more and more each year, and the state hasn’t been giving out anymore than $4 million a year. Many individuals are complaining that their claims were rejected despite providing their IDs and SS #s. Hawaii, it seems, is a difficult state wherein to prove your identity.

The state still has over 50,000 claims to pay, to date, and that number keeps rising annually. Unclaimed property can include uncashed checks, utility deposits, safe deposit boxes, shares of stock, insurance refunds, dormant savings accounts, and so forth. When making a claim, make sure you provide the state with everything it asks for, including proof of residency or former residency.