A Hawaii broker asks a salesperson about earnest money is received in a Hawaii sale. Which answer follows Hawaii law?
Correct Answer
B) The brokerage must place the trust funds in a neutral escrow depository or federally insured trust account by the next business day
HAR 16-99-4 requires trust funds to be deposited or placed by the next business day after receipt. Source basis: Hawaii DCCA PSI state outline hi.VIII Escrow Process and Closing Statements plus official HAR 16-99-4 and HRS chapters 247, 449, 502, and 667; checked 2026-04-30.
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