Hawaii License Law
What is 'earnest money depositing timeline' in Hawaii and what are the requirements?
AA. Earnest money must be deposited by the end of the transaction regardless of when received
BB. Hawaii requires earnest money to be deposited into a trust account promptly after receipt—typically within 3 business days or as specified in the purchase contract✓ Correct
CC. Earnest money may be held by the agent in their personal account until escrow opens
DD. There is no timeline requirement; agents may hold earnest money until all contingencies are cleared
Explanation
Hawaii requires earnest money to be deposited promptly into the broker's trust account or escrow. Industry practice and license law expect deposit within a short period after receipt (typically 3 business days).
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