Hawaii Revised Statutes Division 2. Business § 431:4-213

(1) The equity securities of the company have been registered with the United States Securities and Exchange Commission under section 12 of the Securities Exchange Act of 1934, as amended;

(2) The equity securities of the company are required to be registered with the United States Securities and Exchange Commission under section 12 of the Securities Exchange Act of 1934, as amended; or

(3) The domestic stock insurance company does not have any class of its equity securities held of record by at least one hundred persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to sections 431:4-208 to 431:4-210 but for this paragraph.