529s: Let's separate fact from fiction.

Click on each of the boxes below to find out what's 529 myth vs. 529 reality:

Reality: You can use the assets in your HI529 account at any eligible 2- and 4-year college or university, graduate school (including law school and medical school), and trade/technical school, nationwide and even abroad.1

Reality: You can use your HI529 account assets for many qualified higher education expenses including tuition, fees, computers and software, books, certain room and board costs, and more.2

Reality: You may withdraw money from your 529 account at any time, regardless of whether or not your child goes to college.2 You can also change your beneficiary to another eligible member of the family3 with no tax penalty.

Reality: With a HI529 account, you can be as hands-on or hands-off as you want to be. You can choose from an Age-Based Option that automatically adjusts as your child nears college or from Individual Portfolios that help you build your own custom portfolio.

Reality: There are no age requirements for a 529 plan beneficiary. It’s true that younger kids will have more time for their investments to grow in a 529 plan, but parents of older students can take advantage of HI529’s tax-deferred growth too. Moreover, regularly saving even small amounts can really add up.

Reality: With a HI529 account, saving for college is affordable. Total annual asset-based HI529 plan fees range from 0.55% - 0.66%. So, if you invested $1,000, the annual fee would be just $5.50 - $6.60. All non-resident accounts are charged an annual account fee of $20; that fee is waived for residents of Hawai'i.

Reality: You can open a HI529 account with as little as $15. Additional contributions of at least $15 can be made to your account at any time, whether it's via a one-time contribution, recurring contributions, or as gifts from friends and family.

Reality: It's fast and easy to open a HI529 account online. The easy-to-follow directions will guide you through the enrollment process. In less than 15 minutes, you can be securely signed up and saving for college with HI529.

Now that you've got the facts, are you ready to help turn your child's dreams into reality? Open your HI529 account today.



1An eligible educational institution is one that can participate in federal financial aid programs.

2Earnings 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.

3Section 529 defines a 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.


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