Notable Players
No MSOs currently

A Deeper Look At This State

Regulatory Framework

House Bill 2097, signed into law in September 2020, allows for the sale of edibles in the state. The state's Department of Health will oversee the establishment of rules governing the production, labeling, and packaging of edible cannabis products.

For the first time, the new law permits dispensaries to "provide, disseminate, and publish educational and scientific materials related to medical cannabis and its approved products and sponsor events about medical cannabis."

Additionally, Hawaii enacted a reciprocity program in 2019 which was expected to increase revenue, but the program, allowing tourists to purchase cannabis with their state's medical card, experienced a slow start. The halt from COVID in 2020 further stunted the effort.

The Hawaii Senate Public Safety, Intergovernmental and Military Affairs Committee approved a bill to legalize cannabis as well as another one to expand the state’s existing cannabis decriminalization law


Notable Market Activity

There is no notable activity at this time.

What's the Play?

Hawaii has decriminalized cannabis, which is a step in the right direction towards legalization. MSOs should pay close attention as an adult-use market with pre-COVID tourism of ~10MM people per annum could be quite profitable if a limited license regulatory regime is enacted.

Market Snapshot

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

594/273

By The Numbers

Population

~1.4MM

Annual Tourists

~
11
MM

Medicinal Legalization

2000

Adult-Use Legalization

N/A

First Adult-Use Sales

N/A

MMJ Patients

~34K

Monthly Revenue

~$5MM

Cultivation Cap

5,000 plants

Cultivation Licenses

8/8 (Issued/Limit)*

Retail Licenses

8/8 (Issued/Limit)*

Retail License Cap per Operator

1

Vertical Integration

Required

Delivery

Not Allowed

MMJ Qualifications

Less Restrictive

State Population / # Retail Licenses

Accepts Out of State MMJ

Yes

MMJ Patients / # Retail Licenses

~4K

*Vertically integrated businesses who can each operate two cultivation sites and two dispensaries, but dispensaries may apply to open a third .

Top Cultivators

Notable Market Activity

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data
Shit We Don't Know

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