With HI529, you're in control.

As the account owner, with HI529, you make the choices that can make this the right plan for your family.

You control your money. Always.

  • You determine when to withdraw the funds, whether it's the first semester, last semester, for graduate school, or any other time.1 It's your choice.
  • You decide which qualified education costs to pay for, including:
    • Tuition at public and private universities, trade schools, and other eligible institutions, worldwide2
    • Room and board
    • Books
    • Computers and software
    • Supplies and equipment
    • Student loans3
  • You can change the beneficiary to another qualified family member4
  • You receive detailed quarterly statements.
  • Rollover your 529 savings into an IRA if they are no longer needed for education5

You decide how your money is invested.

HI529 offers a full range of options to match your time horizon and risk tolerance, including:

You don’t have to live in Hawai'i.

HI529 is open to residents of all 50 states. And anyone − grandparents, aunts and uncles, even friends − can open or contribute to an account.


1Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

2An eligible institution includes those that can participate in federal financial aid programs, training and apprenticeship programs, and K-12 programs.

3Qualified student loan repayment expenses are limited to up to $10,000 lifetime per individual, for the Beneficiary or a sibling of the Beneficiary.

4For beneficiary changes to occur without incurring federal or state income taxes, the new beneficiary must be a Member of the Family of the former beneficiary. Section 529 defines a Member of the Family member as: a son, daughter, stepson or stepdaughter, or a descendant of any such person; a brother, sister, stepbrother, or stepsister; the father or mother, or an ancestor of either; a stepfather or stepmother; a son or daughter of a brother or sister; a brother or sister of the father or mother; a son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law; the spouse of the beneficiary or the spouse of any individual described above; or a first cousin of the beneficiary. Gift or generation-skipping transfer taxes may apply. Please consult with your tax advisor for further information.

5Subject to eligibility requirements. Please see the Program Description for more information. 

6Federal law permits you to move the assets in your HI529 account to a different mix of investment options up to two times per calendar year. 


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