HI HB1482

Establishes a limited intrastate crowdfunding exemption called the "Hawaii Invests Local Act" allowing Hawaii-based businesses to raise capital from Hawaii residents through equity crowdfunding without federal or state securities registration.

Caps offerings at $1,000,000 per twelve-month period, with individual investors limited to $5,000 per purchase unless they are accredited investors under federal securities law.

Requires issuers to file notice with the state commissioner at least ten days before offering, provide detailed disclosure statements to purchasers, and maintain funds in escrow until a specified minimum target offering amount is reached.

Mandates quarterly reporting to purchasers regarding business operations, financial condition, and compensation to officers and directors, with reports available free of charge.

Restricts resales of securities to Hawaii residents for nine months after the final sale and prohibits use of this exemption in combination with other exemptions except for sales to company insiders and ten percent shareholders.