Prompt payment statutes are laws that require the payment of contractors and subcontractors within a certain period of time, and prescribe interest and penalties for late payments. In some states these laws only apply to public works construction projects that are funded by the government—and sometimes only to public works projects over a certain dollar amount. There is also a federal Prompt Payment Act for federal construction projects.

In Hawaii, prompt payment statutes are designed to ensure that contractors and subcontractors are paid in a timely manner for their work on construction projects. Hawaii Revised Statutes Section 103D-324 and Section 103-32.2 specifically address prompt payment for public construction projects. These statutes require that a government contracting agency must make progress payments to a contractor within 30 days after the agency receives a proper request for payment. If the payment is late, the contractor is entitled to interest on the unpaid amount. For subcontractors, once the contractor has received payment from the agency, the contractor must pay the subcontractors within 10 days. If the contractor fails to make timely payment to a subcontractor, interest may also be due. The statutes apply to all public construction projects, regardless of the dollar amount. For private projects, Hawaii does not have a specific prompt payment statute, but the general principles of contract law would apply, and the terms of the contract would dictate payment obligations. Additionally, the federal Prompt Payment Act applies to federal construction projects, ensuring timely payment to contractors and subcontractors working on these projects.