Hawaii · General excise tax, high income tax
CPA, bookkeeping & fractional CFO services in Hawaii
Hawaii has a graduated personal income tax with a high top rate and a general excise tax on business gross receipts, which applies to more types of income than a typical sales tax. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to Hawaii businesses remotely.
- Serving all of Hawaii remotely
- Hawaii GET and N-35/N-20 returns tracked for you
- Monthly reporting included
In short
How does the Hawaii general excise tax work?
The general excise tax is a tax on the gross receipts of nearly all business activity in Hawaii, including services, rentals and retail sales. It is charged to the business, though most businesses pass it on to customers, and some counties add a surcharge. Rates differ for wholesaling and some other activities.
- State income tax
- Graduated (high top rate)
- State sales tax
- 4% GET (+ county surcharge)
- Key business tax
- General excise tax
- How we serve
- Remotely, statewide
Services in Hawaii
What we do for Hawaii business owners
From Honolulu hospitality and real estate businesses to Maui tour operators and Big Island farms, Hawaii owners need GET and income tax handled correctly. We provide monthly bookkeeping, federal and Hawaii tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- Hawaii general excise tax tracking by island
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- Hawaii PTE election review
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- Hawaii N-35, N-20, N-30 and GET returns
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
Hawaii tax planning
Planning around Hawaii taxes
Hawaii planning combines the GET, the transient accommodations tax for rentals, high personal rates and federal planning.
Book a 15-min callGET on everything
Because GET applies to services and rentals too, we make sure every revenue stream is reported correctly.
Vacation rentals
Short-term rentals owe GET and transient accommodations tax. We set up the books for both.
High-income planning
Hawaii high top rates make entity, retirement and PTE planning valuable.
Who we work with
Hawaii industries we serve
We work with owner-led businesses across Hawaii, with experience in the industries that drive the state economy.
Hospitality and tourism
Hotels, tour operators and restaurants.
Real estate and vacation rentals
Owners with GET and TAT obligations.
Military and government contractors
Contractors supporting bases and agencies.
Agriculture
Farms and food producers.
E-commerce sellers
Online brands with Hawaii sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why Hawaii businesses choose CPA Torrance
Areas we cover
Serving businesses across Hawaii
Businesses in Honolulu, Hilo, Kailua, Kahului, Kapolei work in tourism, real estate, military contracting, agriculture and healthcare. CPA Torrance helps Hawaii businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- Honolulu
- Hilo
- Kailua
- Kahului
- Kapolei
- Kona
- Lahaina
- Lihue
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
Hawaii business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to Hawaii businesses?
We provide monthly bookkeeping, federal and Hawaii tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
Is the Hawaii GET a sales tax?
Not exactly. It is a tax on the business for gross receipts, which most businesses pass on to customers, and it applies to many services that a sales tax would not.
Do vacation rentals owe extra tax?
Yes. Short-term rentals owe GET and the transient accommodations tax, plus county taxes in some areas.
Does Hawaii have a pass-through entity tax?
Hawaii has adopted an elective pass-through entity tax. We review whether it applies to your tax year and whether it helps.
Can CPA Torrance work with Hawaii businesses remotely?
Yes. We serve businesses across Hawaii, including Honolulu, Hilo, Kailua, Kahului, Kapolei, Kona, Lahaina and Lihue, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your Hawaii business.
Get your Hawaii books and taxes in order.
Book a call to review bookkeeping and tax planning for your Hawaii business.