Motor vehicle dealers are required to post a Motor Vehicle Dealer Bond as part of the process to license the dealership. The amount of the bond depends on what type of vehicles are to be sold, the amount of vehicles you plan to sell, and other factors. Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.
- Required by: Motor Vehicle Industry Board Department of Commerce & Consumer Affairs PVL Licensing Branch
- Minimum Bond Amount: $10,000
- Maximum Bond Amount: $200,000
- Valid: Renewable
The specific bond amount depends on what type of vehicle will be sold:
- Motorcycle/scooter- $10,000
- New Motor vehicle- $50,000-$200,000
- Used Motor Vehicle- $25,000-$100,000
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.
This bond guarantees the principal will abide by all Hawaii state laws and regulations along with rules outlined in Chapter 437 of the Hawaii Revised Statutes.
The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.
For cancellation of the bond, a 30 days’ written notice of cancellation must be submitted to the State of Hawaii.
Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.
State licensing fees and requirements:
- Surety bond
- License application
- Supporting application documents (listed on official page)
- Rental/lease agreement
- Self-inspection reports
- Entity registration papers
- Business address
- Financial statements
- $50 non-refundable application fee
All licensing fees are required by the obligee, not the surety company. Each type of license requires a different fee.
All licenses must be renewed on June 30th every even-numbered year.
For more licensing information, visit Hawaii’s official page: Department of Commerce and Consumer Affair Professional & Vocational Licensing