Starting a cannabis company in Hawaii? We’ve put together a state-specific guide covering everything from available license types to fees, regulations, and what you should include in a Hawaii cannabis business plan. Jump to a section by clicking below, or go straight to our sample cannabis business plan.
Since SB 862 and HB 321 passed, Hawaii adults can possess up to 4 ounces of usable cannabis, as well as grow marijuana at home, if they have a certification from a doctor. There are no restrictions on types of marijuana that can be sold, and home cultivation is allowed. Over 31,000 patients have registered for medical marijuana use. Hawaii’s medical marijuana sales via dispensaries could be as high as $54 million in 2021.
Hawaii issues licenses for two broad categories of cannabis businesses: vertically integrated producers/dispensaries, and testing labs.
Producer/dispensary: These businesses grow cannabis plants indoors (outdoor cultivation is not allowed in Hawaii), then sell it to patients at a retail storefront. Hawaii allows those with a cannabis business license to open two cultivation facilities and two dispensaries. You have to follow the state’s strict rules for seed-to-sale tracking, security, record-keeping, advertising, and more. Currently, all available cannabis business licenses have been granted.
Testing lab: Consumers and regulators alike demand consistency and quality control in cannabis products, which creates demand for marijuana testing labs. These labs use methods like liquid or gas chromatography to analyze products for CBD and THC content, pesticides, terpenes, bacteria, fungi, and heavy metals, to name a few.
Ancillary business: If you don’t want to grow or sell cannabis in Hawaii, there are plenty of other ways to be part of the booming cannabis industry. You can create a marijuana app, payment processing service, consulting firm, pest management product, accounting firm, automated plant watering system, security service, packaging labeling service, or legal firm--and that’s just the tip of the iceberg!
Local governments may forbid cannabis companies or certain locations, so check city and island regulations.
Application fees: Applying for a cannabis business license in Hawaii costs $3,000 for a testing lab and $5,000 for a dispensary.
License fees: It’s $75,000 for a new dispensary license in Hawaii, and $50,000 to renew it every year. The annual cost for a testing lab license is $3,000.
Financial requirement: You have to have $1 million or more in working capital in order to get a cannabis business license, and an additional $100,000 per dispensary you’re going to open.
Tracking: Hawaii medical cannabis companies must use BioTrackTHC, a seed-to-sale tracking program.
A business plan is not required to get a medical marijuana business license in Hawaii, but it will certainly make the process easier. Your application already has to include a five-page plan for operating a dispensary in your county, as well as your qualifications, some of which naturally overlaps with a business plan. And if you plan on raising funding from investors, you definitely need a business plan.
Here’s what an Hawaii marijuana business plan should include:
Google your city or island and “cannabis regulations” or “marijuana laws.” If your area doesn’t have information about cannabis, check recent local news coverage or contact your city clerk, city manager, or town hall.
Confused or overwhelmed yet? That’s normal. With such a highly regulated industry, and one with different rules in every state, starting a cannabis company can be very complex. Get help with your cannabis business plan from Masterplans, the industry leaders. We’ve worked with hundreds of cannabis entrepreneurs like yourself to create investor-ready documents and presentations so you can not only meet regulations but get the funding you need. Click below for your free, confidential consultation: