THE SENATE	S.R. NO.	33
THIRTY-THIRD LEGISLATURE, 2026
STATE OF HAWAII

SENATE RESOLUTION

 

 

requesting the department of budget and finance to conduct a study on the feasibility and benefits of creating a state-owned sovereign wealth fund.

 

 

     WHEREAS, a sovereign wealth fund is a state-owned investment fund that holds and invests the state's assets to generate financial returns for the long-term benefit of the state's citizens; and

 

     WHEREAS, sovereign wealth funds are typically established outside of the state budget and managed with a long-term investment horizon, allowing governments to strengthen fiscal stability, support economic development, and preserve wealth for future generations; and

 

     WHEREAS, sovereign wealth funds are used globally as tools for economic development and intergenerational equity that are at times used to support domestic infrastructure and invest in strategic sectors while ensuring that revenues from limited or extraordinary sources such as natural resources, budget surpluses, or legal settlements are saved and invested prudently; and

 

     WHEREAS, globally, more than ninety countries and certain regional governments, including U.S. states, operate sovereign wealth funds as instruments for long-term economic stability and public benefit; and

 

     WHEREAS, establishing a sovereign wealth fund for the State would provide a mechanism to invest a portion of revenues from tourism, budget surpluses, legal settlements, and other sources for the long-term benefit of residents of the State; and

 

     WHEREAS, distributing a portion of investment earnings to qualified residents as cash dividends may help families experience a direct economic benefit from the tourism industry and assist with the cost of essential household need; and

 

     WHEREAS, direct payments to qualified residents from investment earnings could assist with the high cost of living in the State while ensuring that future generations share in the benefits of prudent fiscal management; now, therefore,

 

     BE IT RESOLVED by the Senate of the Thirty-third Legislature of the State of Hawaii, Regular Session of 2026, that the Department of Budget and Finance is requested to conduct a study on the feasibility and benefits of creating a state-owned sovereign wealth fund; and

 

     BE IT FURTHER RESOLVED that the Department of Budget and Finance is requested to submit a report of its findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days prior to the convening of the Regular Session of 2027; and

 

     BE IT FURTHER RESOLVED that a certified copy of this Resolution be transmitted to the Director of Finance.

 

 

 

	OFFERED BY:	_____________________________

 

 

 

Report Title: 

B&F; Sovereign Wealth-Fund; Study