Haw. Rev. Stat. » Haw. Rev. Stat. / Chapter 667
Hawaii Revised Statutes

Haw. Rev. Stat. § 667-30 (2025)

]  Successful bidder's failure to comply; forfeiture of downpayment

✓ laws through the 2025 session: the 2026 session is not included
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     [§667-30]  Successful bidder's failure to comply; forfeiture of downpayment.  If the successful bidder later fails to comply with the terms and conditions of the public sale or fails to complete the purchase within forty-five days after the public sale is held, the downpayment shall be forfeited by that bidder.  The forfeited downpayment shall be credited by the foreclosing mortgagee first towards the foreclosing mortgagee's attorney's fees and costs, then towards the fees and costs of the power of sale foreclosure, and any balance towards the moneys owed to the foreclosing mortgagee.  The foreclosing mortgagee, in its discretion, may then accept the bid of the next highest bidder who meets the requirements of the terms and conditions of the public sale or may begin the public sale process again. [L 1998, c 122, pt of §1]

 

 

Notes of Decisions
Cited in 2 cases, 2001–2020 · leading case: First Hawaiian Bank v. Timothy, 31 P.3d 205 (Haw. App. 2001).
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First Hawaiian Bank v. Timothy, 31 P.3d 205 (Haw. App. 2001). “[§ 667-30] Successful bidder’s failure to comply; forfeiture of downpayment.”
OneWest Bank, F.S.B. v. The Ass'n of the Owners of the Kumulani at the Uplands at Mauna Kea. ICA s.d.o., filed 05/30/2018. Motion for Reconsideration, filed 06/12/2018., No. SCWC-16-0000123 (Haw. Jan. 9, 2020). · cites it 2× “HRS § 667-30 (2016). In its memorandum in opposition to OneWest’s HRCP Rule 60(b) motion, the Association cited Timothy in support of its argument that it should receive distribution of the down payment for damages suffered.”
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