Small Business Incentive Programs in Hawaii

Agency: Hawaii Technology Development Corporation

This competitive program supports Hawaii-based technology companies with funding, mentorship, and business development resources. The program focuses on companies developing innovative solutions that can scale beyond Hawaii's borders while creating local jobs and contributing to economic diversification efforts in the islands.

Agency: Hawaii Department of Business, Economic Development & Tourism

This program connects Hawaii small businesses with federal SBIR opportunities while providing state-level support and coordination. It helps local companies compete for federal research and development funding while ensuring projects benefit Hawaii's economy through job creation, technology transfer, and potential military or civilian applications relevant to the Pacific region.

Agency: Office of Hawaiian Affairs

This program provides grants and business development support specifically for Native Hawaiian-owned enterprises. It offers funding for business startup costs, expansion, and capacity building while emphasizing traditional Hawaiian values and community benefit. The program also provides networking opportunities and connections to other Native Hawaiian business owners and mentors.

Agency: Hawaii State Energy Office

These grants support businesses developing or deploying clean energy technologies that help Hawaii achieve its renewable energy objectives. The program prioritizes projects that can be scaled across the Hawaiian islands and potentially exported to other Pacific island communities. Recipients often work on solar, wind, geothermal, or energy storage solutions tailored to Hawaii's unique grid challenges.

Agency: County of Hawaii Office of Economic Development

This county-level program provides direct support to small businesses on the Big Island, focusing on job creation and community economic development. The program often supports agriculture, tourism, manufacturing, and service businesses that serve local residents. It emphasizes businesses that contribute to the county's economic diversification goals and community resilience.

Hawaii Renewable Energy Technologies Income Tax Credit

This credit allows businesses to claim up to 35% of the cost of eligible renewable energy systems installed in Hawaii. The credit applies to solar water heating, photovoltaic, wind, and geothermal systems used for business operations.

Eligibility: All Hawaii businesses that install qualifying renewable energy systems for business use are eligible, subject to system certification requirements.

Hawaii High Technology Business Investment Tax Credit

Qualified high technology businesses can claim various tax credits for research activities, facility investments, and job creation. The credit is designed to encourage technology sector growth and innovation in Hawaii.

Eligibility: Businesses must be engaged in qualified high technology activities as defined by Hawaii law, including biotechnology, information technology, ocean sciences, or astronomy.

Hawaii Motion Picture, Digital Media, and Film Production Tax Credit

This incentive provides tax credits for qualified production expenditures incurred in Hawaii for film, television, and digital media projects. Credits can be substantial for productions that hire local talent and use local services.

Eligibility: Production companies and related businesses that incur qualified expenditures in Hawaii and meet minimum spending thresholds and local hiring requirements.

Hawaii Agricultural Land Tax Classification

Agricultural businesses can receive significant property tax reductions by qualifying their land for agricultural use classification. This reduces the assessed value for property tax purposes, lowering annual tax obligations.

Eligibility: Land must be actively used for agricultural purposes and meet minimum acreage and production requirements as defined by county ordinances.