Hawaii earns 51/100 in financial transparency, ranking 47 among 50 states

​New report from Truth in Accounting reveals Hawaii’s strengths and weaknesses in fiscal reporting

News release from Truth in Accounting, Jul 10, 2025

Hawaii earned a total score of 51 out of 100 in Truth in Accounting’s Financial Transparency Score 2025 report, ranking 47 out of 50 states. This year’s analysis highlights both improvements and concerns in how state governments disclose their true financial condition.

Hawaii’s score experienced the most significant decrease, dropping 33 points, including 25 points due to the Employee Retirement System’s failure to issue its 2023 Annual Comprehensive Financial Report at the time of research.

Hawaii’s Annual Comprehensive Financial Report (ACFR) is a key document that should offer a clear picture of a government’s finances. Hawaii received a disclaimer of opinion, which contributed 25 points to its total.  Other factors included timeliness of reporting, presence of deferred items that distort financial clarity, and how pension liabilities are disclosed.

Accurate and timely financial reporting has a direct impact on taxpayers, citizens, journalists, and even state lawmakers.

“Without accurate and timely financial information, it’s nearly impossible for citizens to hold their governments accountable,” said Sheila Weinberg, founder and CEO of Truth in Accounting.

Truth in Accounting’s report provides a roadmap for states to improve fiscal transparency, empowering citizens with the information needed to understand how public money is managed. You can explore the full report and see how Hawaii compares to others at truthinaccounting.org.