Notable Players
No MSOs currently

A Deeper Look At This State

Regulatory Framework

HB 2097, signed into law in September 2020, allows for the sale of edibles in the state. The 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.

For years, advocates have been working to pass legislation to sensibly legalize cannabis in Hawaii and recently gained support from the Attorney General. Look for reform in 2024.

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 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

21+ Population

~0.9MM

Annual Tourists

~
10
MM

Medicinal Legalization

2000

Adult-Use Legalization

N/A

First Adult-Use Sales

N/A

MMJ Patients

~33K

Monthly Revenue

~$4.3MM

Cultivation Cap

5,000 plants

Cultivation Licenses

8/8 (Operational/Limit)*

Retail Licenses

23/No Limit (Operational/Limit)*

Retail License Cap per Operator

1

Vertical Integration

Required

Delivery

Not Allowed

MMJ Qualifications

Less Restrictive

Adult Population/ # Retail Licenses

Accepts Out of State MMJ

Yes

MMJ Patients / # Retail Licenses

~1.4K

*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

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Co-Founder & CEO
West Palm beach
Co-Founder
WEst palm beach
Managing Director
Los Angeles
Shit We Don't Know

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