Most states have usury laws (usually statutes) governing the amount of interest that can be charged on a loan. Usury laws vary from state to state, but the elements of a usury claim are generally: (1) a loan of money; (2) an absolute obligation to repay the principal; and (3) the exaction of a greater compensation than allowed by law for the use of the money by the borrower.

And interest means compensation for the use, forbearance, or detention of money. The term does not include time price differential, regardless of how it is denominated. The term does not include compensation or other amounts that are determined or stated by law not to constitute interest, or that are permitted to be contracted for, charged, or received in addition to interest in connection with an extension of credit.

Service charges, finance charges, and discount points are generally considered interest for purposes of usury. But contingent or uncertain charges are generally not considered interest.

In Hawaii, usury laws are codified under Hawaii Revised Statutes §478-2, which sets the maximum interest rates lenders can charge on loans. The legal rate of interest in Hawaii is ten percent per annum for any loan, forbearance of any money, goods, or things in action, or on accounts after they become due. This rate can be different if there is a written contract signed by the person to be charged. For instance, the interest rate can be as high as twelve percent per annum when agreed upon in writing. The elements of a usury claim in Hawaii include the existence of a loan of money, an absolute obligation to repay the principal, and the charging of an interest rate exceeding the maximum allowed by law. Charges that are considered interest include service charges, finance charges, and discount points, as long as they are not contingent or uncertain. It's important to note that certain types of loans, such as those made by financial institutions, may be exempt from these limits under specific circumstances. Borrowers who have been charged usurious interest may have legal recourse, including the possibility of recovering twice the amount of interest paid. It is advisable for individuals to consult with an attorney to understand the specific implications of usury laws on their loans or credit transactions in Hawaii.