Hawaii Revised Statutes

Haw. Rev. Stat. § 478-7 (2026)

Compound, not recoverable

✓ current as of July 2026

Find cases: SyfertCases citing this section HI-LEGcapitol.hawaii.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

§478-7 Compound, not recoverable. No action shall be maintainable in any court of the State to recover compound interest upon any consumer credit transaction or upon any credit card agreement whatever. [CC 1859, §1484; RL 1925, §3590; RL 1935, §7056; RL 1945, §8737; RL 1955, §191-7; HRS §478-7; am L 1986, c 137, pt of §1]

Case Notes

Notes given to cover accumulated compound interest held to be not void. 8 H. 614.

Interest upon interest may be contracted for. 8 H. 742; 30 H. 359, 379. See 31 H. 958; 36 H. 571, 596.

This section states common law rule. 8 H. 742.

Effect of express promise to pay interest at a specified time. 36 H. 571, 598.

Notes of Decisions

Cited in 3 cases, 1969–2020 · leading case: Lucas v. Liggett & Myers Tobacco Co., 461 P.2d 140 (Haw. 1969).

Sort: Relevance Newest Treatment

Lucas v. Liggett & Myers Tobacco Co., 461 P.2d 140 (Haw. 1969). · cites it 4× “See HRS § 478-7; but see 40 N.Y.U.L.R. 1159 (1965); Pannam, The Calculation of Interest at a Rate "Per Cent Per Annum", 40 Australian L.”

In re Mortg. Store, 509 B.R. 292 (Bankr. D. Haw. 2014). · cites it 4× “Haw.Rev.Stat. § 478-7 (1985). . Haw.Rev.Stat.”

Ruppersberger v. Ramos (D. Haw. 2020). · cites it 3× “” Haw. Rev. Stat. § 478-7 . A consumer credit transaction is defined to include credit extended to a natural person primarily for a personal, family, or household purpose: (1) In which the principal amount does not exceed $250,000 .”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.